Question

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?
$  

Science   Advanced-Physics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
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 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.
You have a credit card with an APR of 20%. You begin with a balance of...
You have a credit card with an APR of 20%. You begin with a balance of $750. In the first month you make a payment of $550 and you make charges amounting to $400. In the second month you make a payment of $400 and you make new charges of $550. Complete the following table. (Round your answers to the nearest cent.) 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 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 $200, in response to which you make a payment of $100. The first month you make charges amounting to $50. You make a payment of $100 to reduce the new balance, and the second month you charge $55. Complete the following table. (Round your answers to the nearest cent.) Previous balance Payments Purchases Finance charge New balance Month 1 $200.00 $ $ $ $...
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)
You spent $2,588 on Christmas gifts and put the purchases on your credit card. Your credit...
You spent $2,588 on Christmas gifts and put the purchases on your credit card. Your credit card has a 16.84% APR compounded monthly. If you want to pay off your credit card balance in 15 months, the first payment next month, how big are the monthly payments? Calculate your answer to two decimal places (e.g. 55.93)
You charged $2,000 on your credit card for a trip during Spring break. Your credit card...
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
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.) $
You have a credit card balance of $2,000 and are able to make payments of $50...
You have a credit card balance of $2,000 and are able to make payments of $50 per month. Assume the credit card company charges an annual interest rate of 14% (1.16667% per month). How many months will it take to pay off the balance. Assume no other purchases. Just write the two digit number...no label.
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT