Fee charged on any balances transferred

Assignment Help Financial Management
Reference no: EM131183119

Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your $12,800 balance from your current credit card, which charges an annual rate of 20.6 percent, to a new credit card charging a rate of 11.2 percent. How much faster could you pay the loan off by making your planned monthly payments of $265 with the new card? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of months 39.3 What if there was a 1 percent fee charged on any balances transferred? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Number of months.

Reference no: EM131183119

Questions Cloud

Determine the masses of titanium and iodine : Determine the masses of titanium and iodine that react if 1.74×103kJ of heat is emitted by the reaction.
Calculate the molar heat capacity of water : A volume of 75.0 mL of H2O is initially at room temperature (22.00 °C). A chilled steel rod at 2.00 °C is placed in the water. If the final temperature of the system is 21.40 °C , what is the mass of the steel bar?
Describing an aspect or application of mathematics : Describing an aspect or application of mathematics. You don't need more than 10 minutes. A penalty of 20% per minute will apply to video's of more than 10 minutes and less than 5 minutes.
Fee charged on any balances transferred : Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your $12,800 balance from your current credit card, which charges an annual rate of 20.6 percent, t..
Summary and evaluation of the article : Write a 1500 word summary and evaluation of the article listed below. A "review essay" is a summary of your own words of the article you have chosen to review, together with an appraisal of it
Analyze difference with our standard pollution-control model : Analyze this difference with our standard pollution-control model. What does it suggest in terms of public policy toward water pollution control?
What comes out of our mouths : According to HELPGUIDE.com, oftentimes, what comes out of our mouths and what we communicate through our body language are two totally different things. When faced with these mixed signals, the listener has to choose whether to believe your verbal..
Specific heat capacity of the unknown substance : What is the specific heat capacity of the unknown substance?

Reviews

Write a Review

Financial Management Questions & Answers

  Company will also pay out a liquidating dividend

JJ Industries will pay a regular dividend of $1.70 per share for each of the next four years. At the end of four years, the company will also pay out a liquidating dividend. If the discount rate is 12 percent, and the current share price is $62, what..

  Discuss implications of deviations from purchasing parity

Exchange rates may satisfy PPP as competitive positions of countries' will remain unaffected subsequent to exchange rate changes.

  Capital structure and degree of leverage analyses

Which of the following are practical difficulties associated with capital structure and degree of leverage analyses?

  Future values of single cash flows for different periods

Find the following values, using the equations, and then work the problems using a financial calculator to check your answers. Disregard rounding differences. An initial $400 compounded for 2 years at 4.5%. Round your answers to the nearest cent. The..

  Decide between two mutually exclusive investment projects

The Bartram-Pulley Company (BPC) must decide between two mutually exclusive investment projects. Each project costs $ 6,750 and has an expected life of 3 years. Annual net cash flow from each project begin 1 year after the initial investment is made ..

  Paying interest for each of the first six payments

For a $24,000 student loan with a 6% APR, how much of the payment will go toward the principal and how much will go toward paying interest for each of the first six payments? Assume this is a 10-year loan with monthly payments.

  Equipment will be depreciated straight-line to zero

The Blue Moon is considering a 4-year project that requires an investment of $2.8 million for new equipment. This equipment will be depreciated straight-line to zero over the life of the project and will be worthless thereafter. Management uses the s..

  What should be current stock price

Ranyard's beta is 1.13, and the last dividend per share paid was $4.21. The market risk premium is estimated to be 7.56%, and the real rate of interest is 2.04%. The liquidity risk premium is 0.7%. Analysts expect the company to grow at a rate of 3.5..

  Planning to leave for the mountains and be a survivalist

You are planning to leave for the mountains and be a survivalist in ten years. You will be able to deposit $1,000 per year at the end of each of the first five years and $2,000 per year for the following five years. You start your savings plan today ..

  Investment project has an annual operating cash flow

A investment project has an annual operating cash flow of $34,827. Initially, this 4-year project required $5588 in net working capital, which is recoverable when the project ends. The firm also spent $100,000 on equipment to start the project. This ..

  What is return on equity and net income

Equity Multiplier and Return on Equity SME Company has a debt-equity ratio of .65. Return on Assets is 8.2%, and total equity is $515,000. What is Return on Equity? What is Net Income ? (skipping Equity multiplier)

  Subsequent retirement payments

Assume that your father is now 50 years old, plans to retire in 10 years, and expects to live for 25 years after he retires - that is, until age 85. He wants his first retirement payment to have the same purchasing power at the time he retires as $35..

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