FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A landscape architect accrued $7,820.57 in credit card debt. If the architect makes a monthly payment of $500(and makes no additional charges on the account),

A landscape architect accrued $7,820.57 in credit card debt. If the architect makes a monthly payment of $500(and makes no additional charges on the account), how many months will it take to repay the debt if the annual interest rate on the credit card is 18.4%? (Round answer up to the nearest month)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Options Trading 12 Books In 1 Elevate Your Profits Erase Risks The Definitive Guide From Rookie To Top 1 Trader

Options Trading 12 Books In 1 Elevate Your Profits Erase Risks The Definitive Guide From Rookie To Top 1 Trader

Authors: Warren Ray Benjamin

1st Edition

979-8860106413

More Books

Students also viewed these Finance questions

Question

★★★★★
Access the July 30, 2009, 10-K filing (for year-end June 30, 2009) of Microsoft (MSFT) at www.sec.gov. Review its note 4, Investments. Required 1. How does the cost-basis total amount for its...

Answered: 1 week ago

Question

★★★★★
1.1. Which of the following factors increase the likelihood that an oligopolist will collude with other firms in the industry? The likelihood that an oligopolist will act noncooperatively and raise...

Answered: 1 week ago

Question

★★★★★
5. Discuss the political incentives that helped motivate federal politicians to approve budget deficits in all but five years between 1960 and 2015. LO5.2

Answered: 1 week ago

Question

★★★★★
The production of wine is a multibillion dollar worldwide industry. In an attempt to develop a model of wine quality as judged by wine experts, data was collected from red wine variants of Portuguese...

Answered: 1 week ago

Question

★★★★★
Financial variables for BullDawg Incorporated: Annual revenues = $10,000,000 COGS = 73% of revenues Average inventory balance = $1,000,000 a. What is DIH? Show your work. b. What level of inventory...

Answered: 1 week ago

Question

★★★★★
Identify which choices would be considered descriptive statistics and which would be considered inferential statistics. a. Of 500 randomly selected people in New York City, 210 people had O+ blood....

Answered: 1 week ago

Question

★★★★★
In a small town, two restaurants compete in the market for pizza. Each restaurant must decide whether to advertise or not. The potential monthly profits for these firms are shown below (in thousands...

Answered: 1 week ago

Question

★★★★★
Figure 13.4 shows the effect of an increase in the world interest rate on a small open economy with perfect capital mobility. We assumed there that the Net Capital Outow (NCO) was positive. For most...

Answered: 1 week ago

Question

★★★★★
1. Kelvin has $12,000 in outstanding student loans. Which of the following criteria should Kelvin fulfill to be eligible for the Public Service Loan Forgiveness (PSLF) program? He should be a...

Answered: 1 week ago

Question

★★★★★
Chapters are an important element of many nonprofit organizations. The relationship between chapters and their central organization is important. Which of the following is a common structural...

Answered: 1 week ago

Question

★★★★★
QUESTION 1 Critically discuss, through an analysis of South African case law, whether there is an obligation on the South African government to offer diplomatic protection to its nationals abroad who...

Answered: 1 week ago

Question

★★★★★
If a government wishes to maximize the rate of pharmaceutical innovation, it should offer non-expiring patents to drug companies.

Answered: 1 week ago

Question

★★★★★
3-8. A day after sending an email to all 1800 employees in your company regarding income tax implications of the companys retirement plan, you discover that one of the sources you relied on for your...

Answered: 1 week ago

Question

★★★★★
Most economists think that innovation is not random, and that pharmaceutical companies can steer their research toward profit opportunities.

Answered: 1 week ago

Previous Question Next Question