Finance charge on the credit card account

Assignment Help Mathematics
Reference no: EM131397227

1. Estimate the annual percentage rate for the add on loan using the given number of payment and annual interest rate.

n-42: r =4%  APR_____%

2. Use the unpaid balance method to find the finance charge on the credit card account The last month's balance and any other other transactions are given. Round to two decimal places. Last month's balance $505; payment, $204; interest rate ,17%; brought camera, $84 and bought jacket $130. Please show work how you solve problem.

3. Compute the monthly payment for an add-on interest loan of $1550 with an annual interest rate of 12 percent and a term of 3 years. the monthly payment is $________ round to the nearest cent

4. Use the compound interest formula   A= 42,000, P = 28,000, r = 7 percent  t=_________ round to the  nearest year

5. Use the formula for computing future value using compound interest to determine the value of an account at the end of 10 years if a principal amount of $2,500 is deposited in an account at an annual interest rate of 7% and the interest is compounded daily. Assume there are 365 days in a year.  The amount after 10 years will be $_________ round to the nearest cent as needed

Reference no: EM131397227

Questions Cloud

Verify that power is approximately 0.56 : For n = 36, α = 0.025, σ = 8, and H0: µ ≤ 100, verify that power is 0.61 when µ = 103.- For n = 49, α = 0.05, σ = 10, and H0: µ = 50, verify that power is approximately 0.56 when µ = 47.
Finding a solution to the problem of handling time : This source is a policy claim because the community challenge every day on finding a solution to the problem of handling time. The reasons the author discussed that most of people work 40 hours a week, sleeping eight hours a night that makes 56 ho..
Prepare the swot analysis of the organization and offering : Select a new product or service that will be launched by either an existing organization or one you will create. You may seek your instructor's guidance on the company and product selected but it is not required to obtain your instructor's approva..
Determine the profit maximizing price for product or service : How would a manager determine the profit maximizing price for a product or service? Why is setting an appropriate price one of the most difficult decisions a manager makes?
Finance charge on the credit card account : Use the unpaid balance method to find the finance charge on the credit card account The last month's balance and any other other transactions are given. Round to two decimal places. Last month's balance $505; payment, $204; interest rate ,17%; bro..
Comment on the relative merits of using confidence interval : Comment on the relative merits of using a 0.95 confidence interval for addressing the effectiveness of the antipollution device in the previous exercise.
Would you rule out the claim with a type i error : Based on a test of 20 such devices, you find that X = 565. Assuming normality and that σ = 40, would you rule out the claim with a Type I error probability of 0.05?
What is the difference between product costs and period cost : What is the difference between product costs and period costs? What are the components included in each of the three types of inventory in a manufacturing operation?
Is the abstract specific and representative of the article : Is the abstract specific and representative of the article and Is the purpose of the article made clear in the introduction?

Reviews

Write a Review

 

Mathematics Questions & Answers

  What is the difference between the present value of an

1. what is a sequence? provide an example with your explanation.2. what is a sequence for? give an example of a

  Develop a thorough presentation

You will develop a thorough presentation (using PPT), and be sure to cite all work using APA format. The topic will be for the following - "An analysis of the U.S. Great Depression and its impact on both U.S. and global economy.

  What was the hourly rate of temperature change

Stan invested $5,000, part at 8% and part at 17%.  If the total interest at the end of the year is $490, how much did he invest at 8%?

  Show that x is a super key

Find the closure of the set {Instructor, Grade} in School. -  Show that X is a super key if and only if X+ is the set of all attributes of R. Hint! For "if " construct X+ step by step.

  What is the rejection point

The times were approximately Normal and the standard deviation of all such corrections was known to be 1.3 days. What is the rejection point at α = 0.001 to testHo:μ=8vs. Ha:μ>8?

  State what is their monthly payment

A couple has decided to purchase a $100000 house using a down payment of $17000. They can amortize the balance at 8% over 15 years.

  What is the probability that a gps system is defective

A manufacturer obtains GPS systems from three different subcontractors: 20% from A, 45% from B, and 35% from C. The defective rates for the subcontractors are 1%, 3% and 2%, respectively.

  Determine the p value for testing

Determine the p-value for testing

  Solution to the system of equations

Determine whether the point (2, 0) is a solution to the system of equations. Explain your reasoning in complete sentences.

  Series convergence and prove using the definition

Series convergence - Prove, using the definition, that the following sequence converger

  What are the number of hits for each player

Two minor league baseball players got a total of 358 hits. Washington had 20 more hits than Sanchez. What are the number of hits for each player?

  A manger of small firm is considering whether to produce a

a manger of small firm is considering whether to produce a new product that would require leasing equipment at 20000

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd