Her minimum monthly payments are loan considerations are

Assignment Help Microeconomics
Reference no: EM13700160

Mary's credit card situation is out of control because she cannot afford to make her monthly payments. She has three credit cards with the following 1 loan balances and APRs: Card 1, $4,500, 19%; Card 2, $5,700, 23%; and Card 3, $3,200, 15%. Interest compounds "monthly on all loan balances. A Credit card loan consolidation company has captured Mary’s attention by stating they can save Mary 17% per month on her credit card payments. This company charges 16.5%APR. Is the company's claim correct? Assume a 10-year repayment period.

Her Minimum monthly payments are?

Her minimum monthly payments are loan considerations are?

 

Is company correct?

Reference no: EM13700160

Questions Cloud

Insufficient information to determine : Suppose option A has a higher variance than option B. Which of the following statements is, in general, true?
Expected revenues for the different auction types : Consider an auction with 1,000 risk-neutral bidders. It is know that these bidders have affiliated values. Based on this information we know the expected revenues for the different auction types will be
Efficiency expert hired by a manufacturing firm : You are an efficiency expert hired by a manufacturing firm that uses K and L as inputs. The firm produces and sells a given output. If w = $35, r = $100, MPL = 7, and MPK = 20 the firm:
Service and illustrate its market with supply-demand curves : Pick a good or service and illustrate its market with supply and demand curves. Explain what each curve represents and tell what (specifically) would shift each of the curves.
Her minimum monthly payments are loan considerations are : Mary's credit card situation is out of control because she cannot afford to make her monthly payments. She has three credit cards with the following 1 loan balances and APRs: Card 1, $4,500, 19%; Card 2, $5,700, 23%; and Card 3, $3,200, 15%. Interest..
Determine the current amount of money that must be invested : Determine the current amount of money that must be invested at 12% nominal interest, compounded monthly, to provide an annuity of $12000 per year for 4 years, starting 11 years from now. The interest rate remains constant over this entire period of t..
Projected revenue depends on the number of lawns serviced : Three students consider the option of forming a lawn care and landscaping business during their summer vacation. They estimate the following costs: Insurance $2,600; Equipment Rental Fees $1,000; Fuel and Supplies $4 per lawn serviced and Miscellaneo..
Capital structure consists solely of debt and common equity : Hook Industries' capital structure consists solely of debt and common equity. It can issue debt at rd = 11%, and its common stock currently pays a $3.00 dividend per share (D0 = $3.00). The stock's price is currently $33.25, its dividend is expected ..
Find the revenue function and find the cost function : A business owner used a revenue function and a cost function to analyze his monthly sales. One month he found that with a sales volume of 600 items he had revenues of $10,200. Another month he had total costs of $4,700 on a sales volume of 400 items...

Reviews

Write a Review

Microeconomics Questions & Answers

  What are the possible consequences of using an open

one of the most important issues concerning e-commerce is the privacy and security of ones identification and financial

  What other reason could explain why this program is offered

the nation's largest consumer electronics retailers began a nationwide television advertising campaign kicking off its "Take It Home Today" program, which is designed to encourage electronics consumers to buy today rather than continue postponing ..

  How to generate less revenue than the government spends

Excess burden is caused by the fact that taxes Answer are spent in ways that taxpayers do not support. distort economic decisions. generate less revenue than the government spends. are regressive instead of progressive.

  If entrant observes incumbent producing q units of output

suppose that market demand is described by p 100 - q q where p is the market price q is the output of the incumbent

  Information about cost analysis

Airway Express has an evening flight from Los Angeles to New York with an average of 80 passengers and a return flight the next afternoon with an average of 50 passengers.

  Determining aftertax cash flows

Cost of capital is 12%. Its expects aftertax cash flows (including the tax shield from depreciation) for the next 5 years are:

  Copy center is facing a cost-push or demand-pull inflation

From Part 2 of the scenario, identify whether the copy center is facing a cost-push or demand-pull inflation and provide a rationale for your answer. Suggest a business strategy that would offset the type of inflation you have identified.

  Write down the characteristics of the long-run phillips

for each of the following tax liability schedules identify whether it represents a progressive regressive or

  How would the job be categorized

Consider a family that ranks combinations of household production time (N) and purchased goods and services (Y) according to the formula: U= NY. Suppose the maximum time available in a day is 16 hours, the wage rate is $4 per hour and the fa..

  Find the equilibrium price and quantity

A monopolist firm faces the following cost curve: C(Q) = 10Q + 300, where Q is the output produced. The demand for its product is given by P = 50 - .

  Explain how the aggregate expenditure function shifts

Explain how the aggregate expenditure function shifts in response to changes in each of the following variables:

  Estimating profit maximizing price

Assume there're three firms with the same individual demand function. This function is Q=1,000-40P. Assume each firm had the diffeerent cost function these functions are: Firm 1: 4,000+ 5Q

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