Question

You owe $10,000 on a credit card with an interest rate of 15%, which is compounded monthly. If you make payments of $1,000 per month, how many months will it take you to pay off your debt? (Enter the answer to 2 decimal places)

Answer #1

Suppose you have accumulated $21,000 in credit card debt. If the
interest rate on the credit card is 24.7% APR compounded monthly,
how many years will it take you to pay off this debt if you pay
$500 per month? (Answer to the nearest tenth of a year)

Suppose you have accumulated $21,000 in credit card debt. If the
interest rate on the credit card is 24.2% APR compounded monthly,
how many years will it take you to pay off this debt if you pay
$500 per month? (Answer to the nearest tenth of a year)

Suppose you have accumulated $20,000 in credit card debt. If the
interest rate on the credit card is 20.1% APR compounded monthly,
how many years will it take you to pay off this debt if you pay
$500 per month? (Answer to the nearest tenth of a year)

You
charged $1,000 on your credit card for Christmas presents. Your
credit card company charges you 24% annual interest, compounded
monthly. If you make the minimum payments of $25 per month, how
long (in years) will it take to pay off your balance?

You have a balance of $22,800 on your current credit card. The
interest rate charged by this credit card is 19.8 percent
compounded monthly. You plan to make monthly payment of $450. You
just got an offer from another credit card to transfer your entire
balance to the new card. The new credit card charges interest rate
of 4.8 percent compounded monthly. By how many months will you
shorten the length of time it will take you to pay off...

Simon recently received a credit card with a 15% nominal
interest rate. With the card, he purchased an Apple iPhone 7 for
$373.15. The minimum payment on the card is only $10 per month.
If Simon makes the minimum monthly payment and makes no other
charges, how many months will it be before he pays off the card? Do
not round intermediate calculations. Round your answer to the
nearest whole number.
______ month(s)
If Simon makes monthly payments of $35,...

You charged $2,000 on your credit card for a trip during Spring
break. Your credit card company charges you 22% annual interest,
compounded monthly. If you make the minimum payments of $50 per
month, how long will it take ( to the nearest month) to pay off
your balance?
Answer choices:
A. 81 months
B. 73 months
C. 70 months
D.79 months

Suppose the interest rate on your credit card is 16% compounded
quarterly and you currently owe $2000 on it. If you don’t make any
payments for 3 years, how much will you owe in 3 years?
Question 11 options:
3152-3162
3162-3172
3172-3182
3182-3192
None of the above

You charged $4200 on your credit card for holiday gifts. Your
credit card company charges you 8% annual interest, compounded
monthly. If you make the minimum payments of $65 per month, how
long will it take (to the nearest month) to pay off your
balance?

Today, you borrowed $9,800 on your credit card to purchase some
furniture. The interest rate is 12.6 percent, compounded monthlyHow
long will it take you to pay off this debt assuming that you do not
charge anything else and make regular monthly payments of $130?

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