Question
Which balance accrues the most interest in a month? Credit Card Interest Rate (APR) Balance Credit Limit MarkedUp 9.65% $458.90 $1,500.00 Cred 8.8% $2,249.80 $2,500.00
Which balance accrues the most interest in a month?
Credit Card | Interest Rate (APR) | Balance | Credit Limit |
---|---|---|---|
MarkedUp | 9.65% | $458.90 | $1,500.00 |
Cred | 8.8% | $2,249.80 | $2,500.00 |
BankLine | 14.9% | $946.95 | $4,000.00 |
You owe $2,264.96 on a credit card at a 14.7% APR. You pay $500.00/month. How many months does it take to pay off your balance?
7 months | |
8 months | |
5 months | |
3 months |
You save $15,000.00. You place one-third in a savings account earning a 4.6% APR compounded annually. You then invest one quarter of the remaining balance in a 3-year U.S. Treasury bond earning a 5.2% APR compounded annually and the rest in a stock plan. Your stock plan increases in value 3% the first year, decreases 8% in value the second year, and increases 6% in value the third year. What is the balance of the U.S. Treasury bond by the end of the third year?
$4,618.81 | |
$3,910.02 | |
$2,910.63 | |
$5,722.23 |
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