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 102 times)

JMatthes

  • Hero Member
  • *****
  • Posts: 578
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 $6500 and an annual interest rate of 14%. 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 decide to pay off the balance over one year rather than three.
  (c) How much more must you pay each month?
  (d) How much less will you pay in total interest?
◦ (a) $231
(b) $604
(c) $361 more per month;
(d) $1212 less in total interest
◦ (a) $222
(b) $508
(c) $362 more per month
(d) $984 less in total interest
◦ (a) $222
(b) $1492
(c) $362 more per month
(d) $984 less in total interest
◦ (a) $231
(b) $1816
(c) $361 more per month;
(d) $1212 less in total 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 JMatthes on Feb 2, 2020

asdfasdf

  • Sr. Member
  • ****
  • Posts: 339
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


JMatthes

  • Member
  • Posts: 578
Reply 2 on: Feb 2, 2020
Gracias!

rachel

  • Member
  • Posts: 323
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

People with alcoholism are at a much greater risk of malnutrition than are other people and usually exhibit low levels of most vitamins (especially folic acid). This is because alcohol often takes the place of 50% of their daily intake of calories, with little nutritional value contained in it.

Did you know?

There are 60,000 miles of blood vessels in every adult human.

Did you know?

Dogs have been used in studies to detect various cancers in human subjects. They have been trained to sniff breath samples from humans that were collected by having them breathe into special tubes. These people included 55 lung cancer patients, 31 breast cancer patients, and 83 cancer-free patients. The dogs detected 54 of the 55 lung cancer patients as having cancer, detected 28 of the 31 breast cancer patients, and gave only three false-positive results (detecting cancer in people who didn't have it).

Did you know?

Coca-Cola originally used coca leaves and caffeine from the African kola nut. It was advertised as a therapeutic agent and "pickerupper." Eventually, its formulation was changed, and the coca leaves were removed because of the effects of regulation on cocaine-related products.

Did you know?

Lower drug doses for elderly patients should be used first, with titrations of the dose as tolerated to prevent unwanted drug-related pharmacodynamic effects.

The amount each injector is able to flow is displayed in glass cylinders are each injector for a ... The amount each injector is able to flow is displayed in glass cylinders are each injector for a ...
The relationship of substrate con- version (as measured by optical density) to the amount of patient ... The relationship of substrate con- version (as measured by optical density) to the amount of patient ...
How to choose the right payment plan with changing conditions (Question 3) How to choose the right payment plan with changing conditions (Question 3)
Suppose a country imports televisions. The country's supply and demand curves are shown in ... Suppose a country imports televisions. The country's supply and demand curves are shown in ...
Determine the mass of a nonvolatile, nonionizing compound that must be added to 4.76 kg of ... Determine the mass of a nonvolatile, nonionizing compound that must be added to 4.76 kg of ...
Sonja is paid $42.50 per hour as a veterinarian. She is paid 1 times the regular rate for all ... Sonja is paid $42.50 per hour as a veterinarian. She is paid 1 times the regular rate for all ...
Video: Smoking Cessation

For a complete list of videos, visit our video library