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I need help with these question by using financial calculator HP lOBII. Please write the steps so i can learn. 2. Dennis Rodman has a
I need help with these question by using financial calculator HP lOBII. Please write the steps so i can learn.
2. Dennis Rodman has a $5,000 debt balance on his Visa card that charges 12.9% compounded monthly. Dennis' minimum monthly payment is $150. How many months (round up) will it take Dennis to pay off his credit card if he pays $150 at the end of each month. 42 M os 3. In 10 years you are planning on retiring and buying a house in Oviedo, Florida. The house you are looking at currently costs $100,000 and is expected to increase in value at a rate of 5%/ year. You can earn 6% annually on your investments, how much must you invest at the end of each month for the next 10 years to be able to buy your dream home for cash when you retire? ent 743.70 ! ho - EU costa $ 162,889 4. Bow flex's television ads say you can get a fitness machine that sells for $999 for $33 a month for 36 months. What rate of interest are you paying on this Bow flex loan? ___ !.6270_12E a HP 1Obll Financial Calculator 1,180.36 (PV I/YR NOM% PMT P/YR FV AMORT XP/YR EFF% INPUT MU CST IRR/YR PRC MAR BEG/END NPV CFi SWAP %CHG RND +/- -M RM M+ RCL STO Xx? CLE y 7 8 Oxo CALL IN + ON = OFF * DISPStep by Step Solution
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