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 156 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
Excellent

mohan

  • Member
  • Posts: 362
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Blood in the urine can be a sign of a kidney stone, glomerulonephritis, or other kidney problems.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

Atropine was named after the Greek goddess Atropos, the oldest and ugliest of the three sisters known as the Fates, who controlled the destiny of men.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Using Parallax to Determine Distance Using Parallax to Determine Distance
A depiction of the amount of precipitin that would form with different ratios of antigen and ... A depiction of the amount of precipitin that would form with different ratios of antigen and ...
Superficial lymph drainage pathways or watersheds determine the direction of lymphatic facilitation ... Superficial lymph drainage pathways or watersheds determine the direction of lymphatic facilitation ...
In ABC, A=90, b=3 cm, c=7 cm. Solve for all unknowns to the nearest tenth of a unit. In ABC, A=90, b=3 cm, c=7 cm. Solve for all unknowns to the nearest tenth of a unit.
Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ... Let A ⊆ R and p ∈ A. Suppose A\{p}6= ∅. Prove that p is an isolated point of A if and ...
Let f be a real function with domain R. Suppose that for each ǫ > 0, there is a continuous ... Let f be a real function with domain R. Suppose that for each ǫ > 0, there is a continuous ...
Video: Photosynthesis overview Animation

For a complete list of videos, visit our video library