Question

assume you have a balance of $3200 on your credit card you want to pay off....

assume you have a balance of $3200 on your credit card you want to pay off. calculate your monthly payment and total payment under the given conditions. assume uou makw no additional charges to the card.

the credit card apr is 19% and you want to pay off the balance in 2 years

Homework Answers

Answer #1

SEE THE IMAGE. ANY DOUBTS, FEEL FREE TO ASK. THUMBS UP PLEASE

SOLVED WITH BA II PLUS CALCULATOR

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
.Assume you have a balance of $6,400 on your credit card that you want to pay...
.Assume you have a balance of $6,400 on your credit card that you want to pay off. Calculate your monthly payment and total payment under the given conditions. Assume you make no additional charges to the card. 2) The credit card APR is 24 % and you want to pay off the balance in 3 years.
Assume you have a balance of 4,800 on your credit card that you want to pay...
Assume you have a balance of 4,800 on your credit card that you want to pay off. Calculate your monthly payment and total payment under the given conditions. The credit card APR is 23% and you want to pay off the balance in 3 years.
3. Suppose that on January 1 you have a balance of ​$3200 on a credit card...
3. Suppose that on January 1 you have a balance of ​$3200 on a credit card whose APR is 19​%, which you want to pay off in 11year. Assume that you make no additional charges to the card after January 1. a. Calculate your monthly payments. b. When the card is paid​ off, how much will you have paid since January​ 1? c. What percentage of your total payment from part​ (b) is​ interest?
Suppose that on January 1 you have a balance of $2700 on a credit card whose...
Suppose that on January 1 you have a balance of $2700 on a credit card whose APR is 14​%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1. a. Calculate your monthly payments. b. When the card is paid​ off, how much will you have paid since January​ 1? c. What percentage of your total payment from part​ (b) is​ interest? a. The monthly payment is ??...
1.) Suppose that on January 1 you have a balance of​$4200 on a credit card whose...
1.) Suppose that on January 1 you have a balance of​$4200 on a credit card whose APR is 13​%,which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1. a. Calculate your monthly payments. b. When the card is paid​ off, how much will you have paid since January​ 1? c. What percentage of your total payment from part​ (b) is​ interest? ------------------------------------------------------------------------------------------------- a. The monthly payment is what?...
Math210: 1.) Suppose that on January 1 you have a balance of​$5200 on a credit card...
Math210: 1.) Suppose that on January 1 you have a balance of​$5200 on a credit card whose APR is 14​%,which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1. - Calculate your monthly payments. - When the card is paid​ off, how much will you have paid since January​ 1? - What percentage of your total payment from part​ (b) is​ interest? a. The monthly payment is what...
Suppose that on January 1 you have a balance of $2700 on a credit card whose...
Suppose that on January 1 you have a balance of $2700 on a credit card whose APR is 14​%, which you want to pay off in 1 year. Assume that you make no additional charges to the card after January 1. ANSWER Questions BELOW: a. The monthly payment is ?? (Do not round until the final answer. Then round to the nearest cent as​ needed.) b. The total paid since January 1 is ? ​(Use the answer from part​ (a)...
Your credit card charges an APR of 29% on your balance. Interest is compounded on a...
Your credit card charges an APR of 29% on your balance. Interest is compounded on a daily basis, 365 days a year. If you made the minimum payment of $150 per month on your credit card balance, how long will it take you to pay off a $5,000 balance? Multiple Choice 6.61 years 35.73 years 2.98 years 5.82 years 9.56 yearsYour credit card charges an APR of 29% on your balance. Interest is compounded on a daily basis, 365 days...
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 spent $2,013 on Christmas gifts and put the purchases on your credit card. Your credit...
You spent $2,013 on Christmas gifts and put the purchases on your credit card. Your credit card has a 14.57% APR compounded monthly. If you want to pay off your credit card balance in 24 months, the first payment next month, how big are the monthly payments? Calculate your answer to two decimal places (e.g. 55.93)
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT