You have a credit card with an APR of 20%. You begin with a balance of...

	Previous balance	Payments	Purchases	Finance charge	New balance
Month 1	$750	$	$	$	$
Month 2	$	$	$	$	$

You have a credit card with an APR of 12%. You begin with a balance of...

You have a credit card with an APR of 12%. You begin with a balance of $300, in response to which you make a payment of $75. The first month you make charges amounting to $65. You make a payment of $75 to reduce the new balance, and the second month you charge $75. Complete the following table. (Round your answers to the nearest cent.) Previous balance Payments Purchases Finance charge New balance Month 1 $300.00 $ $ $ $...

you have a balance on your credit card of $2,500. the apr for the credit card...

you have a balance on your credit card of $2,500. the apr for the credit card is 22.5%. in the first month you have a payment of $400 and make purchases of $600 using the card. in the second month, you make a payment of $500 to refuce the new balance and you also make purchases of $300 using the card. what is the new balance for months 1 and 2.

The previous statement for your credit card had a balance of $530. You make purchases of...

The previous statement for your credit card had a balance of $530. You make purchases of $160 and make a payment of $60. The credit card has an APR of 23%. What is the finance charge for this month? (Round your answer to the nearest cent.) $

Assume that you start with a balance of $5000 on your MasterCard. Assume that MasterCard has...

Assume that you start with a balance of $5000 on your MasterCard. Assume that MasterCard has finance charges of 16% APR and that each month you make only the minimum payment of 3% of the balance. During the first month, you charge $250, and during the second month, you charge $600. Complete the following table. (Round your answers to the nearest cent.) Previous balance Minimum payment Purchases Finance charge New balance Month 1 $5000.00 Month 2

Assume that you start with a balance of $4000 on your MasterCard. Assume that MasterCard has...

Assume that you start with a balance of $4000 on your MasterCard. Assume that MasterCard has finance charges of 12% APR and that each month you make only the minimum payment of 5% of the balance. During the first month, you charge $350, and during the second month, you charge $650. Complete the following table. (Round your answers to the nearest cent.) Previous balance Minimum payment Purchases Finance charge New balance Month 1 $4000.00 $ $ $ $ Month 2...

Suppose your Master Card Charges an APR of 17.49%. Your previous statement showed a balance of...

Suppose your Master Card Charges an APR of 17.49%. Your previous statement showed a balance of $600, you made a payment of $200. You then bought $350 worth of electronics, which you charged on your Master Card. Let’s make a spreadsheet Suppose in the second month you make a payment of $250 and then go make purchases of $460. Complete the second month of the spreadsheet. Suppose in the third month you make a payment of $175 and then make...

You have an unpaid balance of $350, on your credit card. You stop making additional purchases...

You have an unpaid balance of $350, on your credit card. You stop making additional purchases with the card and make minimum payments for 10 months. If the credit card company charges 21% APR and requires minimum payments of 4%, what is your remaining balance at the end of the tenth month? $ 276.77 What are your total payments in those ten months? $

Assume that you have a balance of $5300 on your Discover credit card and that you...

Assume that you have a balance of $5300 on your Discover credit card and that you make no more charges. Assume that Discover charges 21% APR and that each month you make only the minimum payment of 2% of the balance. Find how many months it will take to bring the remaining balance down to $2500. (Round your answer to the nearest whole number.)

You have a credit card with an APR of 16%, compounded monthly, that has a balance...

You have a credit card with an APR of 16%, compounded monthly, that has a balance of $7,000. You want to transfer this balance to a different card with an APR of 14.5%, compounded monthly. Assuming that you will make the minimum payments of $150 per month for either card, what transfer fee would make you ambivalent between transferring or not? PV= FV= PMT= N= I/Y=

Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days...

Calculate the monthly finance charge for the credit card transaction. Assume that it takes 10 days for a payment to be received and recorded, and that the month is 30 days long. (Round your answers to the nearest cent.) $400 balance, 14%, $50 payment (a) previous balance method (b) adjusted balance method (c) average daily balance method

You have a credit card with an APR of 20%. You begin with a balance of...

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