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

Author Question: Use PMT = to determine the regular payment amount, rounded to the nearest dollar. Suppose your ... (Read 163 times)

darbym82

  • Hero Member
  • *****
  • Posts: 570
on: Feb 2, 2020
Use  PMT = to determine the regular payment amount, rounded to the nearest dollar.

Suppose your credit card has a balance of $2500 and an annual interest rate of 19%. You decide to pay off the balance over three years. If there are no further purchases charged to the card,
  (a) How much must you pay each month?
  (b) How much total interest will you pay?
Now suppose you instead get a bank loan at 11.5% with a term of four years.
  (c) How much will you pay each month? How does this compare with your credit-card payment?
  (d) How much total interest will you pay? How does this compare with your credit-card interest?
◦ (a) $66
(b) $124
(c) $92, which is a higher monthly payment
(d) $812, which is more interest.
◦ (a) $92
(b) $1916
(c) $66, which is a lower monthly payment
(d) $668, which is less interest.
◦ (a) $92
(b) $812
(c) $66, which is a lower monthly payment
(d) $668, which is less interest.
◦ (a) $66
(b) $668
(c) $92, which is a higher monthly payment
(d) $812, which is more interest.
Thinking Mathematically ¦ Blitzer ¦ 6th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by darbym82 on Feb 2, 2020

Pamela.irrgang@yahoo.com

  • Sr. Member
  • ****
  • Posts: 323
Reply #1 on: Feb 2, 2020
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 32% of students answer this correctly


darbym82

  • Member
  • Posts: 570
Reply 2 on: Feb 2, 2020
Wow, this really help

TheNamesImani

  • Member
  • Posts: 334
Reply 3 on: Yesterday
Great answer, keep it coming :)

« previous next »
 

Did you know?

Increased intake of vitamin D has been shown to reduce fractures up to 25% in older people.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

Never take aspirin without food because it is likely to irritate your stomach. Never give aspirin to children under age 12. Overdoses of aspirin have the potential to cause deafness.

Did you know?

Amphetamine poisoning can cause intravascular coagulation, circulatory collapse, rhabdomyolysis, ischemic colitis, acute psychosis, hyperthermia, respiratory distress syndrome, and pericarditis.

Did you know?

Though Candida and Aspergillus species are the most common fungal pathogens causing invasive fungal disease in the immunocompromised, infections due to previously uncommon hyaline and dematiaceous filamentous fungi are occurring more often today. Rare fungal infections, once accurately diagnosed, may require surgical debridement, immunotherapy, and newer antifungals used singly or in combination with older antifungals, on a case-by-case basis.

Using Parallax to Determine Distance Using Parallax to Determine Distance
Amount of Energy Released by Earthquakes of Different Magnitudes Amount of Energy Released by Earthquakes of Different Magnitudes
When the United States gets stuck over a controversial issue—usually something a divided Congress ca When the United States gets stuck over a controversial issue—usually something a divided Congress ca
How Orbital Eccentricity Changes the Amount of Solar Radiation Earth Receives How Orbital Eccentricity Changes the Amount of Solar Radiation Earth Receives
Steric interactions determine peptide conformation Steric interactions determine peptide conformation
solve for θ to the nearest degree solve for θ to the nearest degree
Video: Reflex arc construction

For a complete list of videos, visit our video library