User Account

All Pages

Her minimum monthly payments are loan considerations

Assignment Help Microeconomics
Reference no: EM13699544

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: EM13699544

Questions Cloud

Leadership and business integration requirements : Review the resources listed in the books and resources area below to prepare for this weeks assignments and complete the following spotlight on skills if you need assistance with the tools used to complete your assignments.
Workers before-tax wage and tax rate : In which L is the number of hours a worker chooses to work (we assume that the worker is able to choose his or her own hours of work), w is the worker’s before-tax wage, and t is the (linear) tax rate. Suppose that there are 100 workers in the countr..
Comprehensive strategic marketing plan : A comprehensive strategic marketing plan for introduction of a new product - Low alcoholic beverage (beer)into the US market.
Will taxes on labor income reduce or increase labor supply : James is a 35-year-old economic consultant who eagerly anticipates the day he will retire from his job and move to a lovely, but expensive, vacation spot, complete with beachfront property and a yacht. James gets income from labor income and investme..
Her minimum monthly payments are loan considerations : 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 : 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..
Equation for total accounting cost and total economic profit : 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..
Percentage of companys capital structure consists of debt : 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 ..
Revenue function and 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

  1 a poor person who has an income of 1000 receives 100

1. a poor person who has an income of 1000 receives 100 worth of food stamps. draw the budget constraint if the food

  Explain how augustine and aquinas would have solved

a newspaper columnist signs a contract with a newspaper chain. several months later she is offered a position with

  Where is marginal product of capital and is unit price of

if a firm wants to maximize profit it will try to minimize the cost of producing a given output or maximize the output

  What would the new price and equilibrium

Find the supply function for the hospitals and  Suppose the hospitals merge into one umbrella organization to improve their bargaining position. What would the new price and equilibrium be?

  Assume as usual that price is given by the demand curve

Suppose that the supply curve (private marginal cost) for a manufactured good is given by QS = 2P ? 2 and that the demand for the product is given by QD = 10 ? 2P. Find the price and quantity in market equilibrium.

  Negative-amortization mortgages permit

Unlike the traditional mortgage amortization schedule, "negative-amortization" mortgages permit the:

  Deduce the expression for inverse demand curve for newtons

the demand function for newtons donuts has been estimated as followsqx -14 - 54px 45py 0.62axwhere qx represents

  Direct costs and opportunity costs are different

Explain how marginal costs, direct costs and opportunity costs are different. Use an example from your personal life to illustrate each concept.

  What circumstance would be economically efficient for clinic

The clinic has hired an efficiency expert to examine its operations and make suggestions for reducing costs.For some of the medical procedures done at the clinic, experienced nurses can perform the medical tasks approximately

  Cost function show economies or diseconomies of scale

The cost function for gumballs is given by TC = q(2v+w), where q is the output of gumballs (in thousands), v is the hourly rental rate for gumball presses, and w is the hourly wage.

  Why do economists pay little attention to the algebraic sign

Why do economists pay little attention to the algebraic sign of the elasticity of demand for a good with respect to its own price, yet pay careful attention to the algebraic sign of the elasticity of the demand for a good with respect to another g..

  After tax retirement contributions

The Taxpayer Relief Act developed Roth IRA which permits you to make after tax retirement contributions of up to $2000 yearly and contributions are not tax deductible

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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