This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: On June 1st, Jared has a 1,500 beginning balance on his credit card. He decides to stop making ... (Read 81 times)

naturalchemist

  • Hero Member
  • *****
  • Posts: 542
on: Jun 24, 2018
On June 1st, Jared has a 1,500 beginning balance on his credit card. He decides to stop making charges on his card and work towards paying it off. His credit card has an APR of 18. Monthly periodic finance charges are calculated using the previous balance method. If Jared makes monthly payments of 150, how much will he owe in 6 months? How much will he have paid in periodic finance charges?

Question 2

Blake earns 3,200 each month. He pays 600 per month for housing, 300 per month for a car loan, and 150 per month in other debt payments. Find Blake's debt-to-income ratio to the nearest tenth of a percent.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Tonny

  • Sr. Member
  • ****
  • Posts: 341
Reply #1 on: Jun 24, 2018
Answer to Question 1

705.75, 105.75

Answer to Question 2

32.8


naturalchemist

  • Member
  • Posts: 542
Reply 2 on: Jun 24, 2018
Excellent

kilada

  • Member
  • Posts: 311
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

People with high total cholesterol have about two times the risk for heart disease as people with ideal levels.

Did you know?

Hyperthyroidism leads to an increased rate of metabolism and affects about 1% of women but only 0.1% of men. For most people, this increased metabolic rate causes the thyroid gland to become enlarged (known as a goiter).

Did you know?

The most dangerous mercury compound, dimethyl mercury, is so toxic that even a few microliters spilled on the skin can cause death. Mercury has been shown to accumulate in higher amounts in the following types of fish than other types: swordfish, shark, mackerel, tilefish, crab, and tuna.

Did you know?

The familiar sounds of your heart are made by the heart's valves as they open and close.

The Making of Black Harlem The Making of Black Harlem
Guidelines and Precautions Prior to Beginning a Strength-Training Program Guidelines and Precautions Prior to Beginning a Strength-Training Program
Nitrogen Balance and Imbalance Nitrogen Balance and Imbalance
Butterfly life cycle stages June 6 2023 Butterfly life cycle stages June 6 2023
Fluid–solute balance in freshwater and marine bony fishes Fluid–solute balance in freshwater and marine bony fishes
Renal regulation of sodium and potassium balance Renal regulation of sodium and potassium balance
Video: Muscle Twitch and Muscle Tension - Motor unit size and force

For a complete list of videos, visit our video library