Define what is the apr on the personal credit card

Assignment Help Econometrics
Reference no: EM13235683

Today the average undergraduate student is responsible for paying off a $3,500 balance on his credit card. Suppose the monthly interest rate is 1.75% (21% APR). How many months will it take to repay the $3,500 balance, assuming monthly payments of $100 are made and no additional expenses are charged to the credit cards? What is the APR on your personal credit card(s).

Reference no: EM13235683

Questions Cloud

What were the implications for global supply chains : Should planning for future events like this impact the strategy of a company? Support your response with your research.
State balanced chemical equations and the solubility : Write balanced chemical equations and the solubility product expressions for the solubility equilibria of silver chloride and calcium phosphate.
How much accumulated interest and principal will leon have : Leon and Heidi decided to invest $3,000 annually for only the first eight years of their marriage. The first payment was made at age 25. If the annual interest rate is 10%, how much accumulated interest and principal will they have at age 65
Explain and balance the redox equation : complete and balance the following redox equation. What is the coefficient of H2O when the equation is balanced using the set of smallest whole-number coefficients
Define what is the apr on the personal credit card : Today the average undergraduate student is responsible for paying off a $3,500 balance on his credit card. Suppose the monthly interest rate is 1.75% (21% APR). How many months will it take to repay the $3,500 balance
What are the parallels incentives of congress : Explain the difference between the incentives of the owner of a house and renter of a house to undertake expenditures designed to improve or maintain the house. For example, are renters more likely to replace light bulbs
Explain how many lone pairs are around the sulfur : How many bonds and how many lone pairs are around the sulfur of SO3? a double or triple bond counts as one bond
Explain the function of input controls : Explain the function of input controls and identify four types of input control and explain the function of each
What is the magnitude of the net force : two point charges are located on the y axis as follows: charge q1 = -1.50nC at y1 = -0.550m , and charge q2 = 4.10nC at the origin, What is the magnitude of the net force

Reviews

Write a Review

Econometrics Questions & Answers

  How many units will this firm produce in the short-run

Total Total Average Fixed Variable Total Total Marginal Quantity Cost Cost Cost Cost Cost 0 $40 0 40 X X 1 40 55 95 95 55 2 40 75 115 57.50 20 3 40 90 130 43.33 15 4 40 110 150 37.50 20 5 40 135 175 35 25 6 40 170 210 35 357 40 220 260 37.14 50 8 40 ..

  How many jobs will be lost in a labor force

If the unemployment rate stays two percentage points above full employment for an entire year, a. How many jobs will be lost in a labor force of 160 million  b. If the average worker produces $100,000 of output, how much output will be lost

  Determine what is the inverse demand function

Where Qd denotes quantity demanded, P denotes price, Y denotes personal income (in thousands of dollars), and A denotes advertising expenditures in hundreds of dollars. ABC's marginal cost function is given as MC = 21 + 4Q Assume Y equals 3

  Calculate the equilibrium wage and level of employment

Let L denote the level of employment (measured in thousands of worker hours), and W the hourly wage. Suppose that the supply of labor is given by LS=10+2W and that the demand for labor is LD=40-W. Calculate the equilibrium wage and level of employm..

  What is mygs return on invested capital

MYG reported $7,500 of operating current assets and $1,750 of operating current liabilities. Further it has $10,000 of operating long term assets and an EBIT of $3000 with a 25% tax rate. What is MYG's ROIC (return on invested capital)

  How much do andy and ben each accumulate

Some people have the opportunity to invest in stocks in a tax-advantaged retirement plan, such as a 401(k) plan. Consider the difference between Andy, who is able to save in a tax-advantaged plan, and Ben, who must pay taxes on his return each yea..

  What is the maximum amount of corn

the PPC for each state, and then draw the graph for the PPC of the two states combined. On each graph, put the quantity of wheat on the vertical axis, and the quantity of corn on the horizontal axis. Be sure to label your graph carefully to receiv..

  What combinations of income and consumption for a student

Real Disposable Income Planned Real Consumption 0 3,000 2,000 4,400 4,000 5,800 6,000 7,200 8,000 8,600 10,000 10,000 12,000 11,400 14,000 12,800 Refer to Table 12.1. The table gives the combinations of income and consumption.

  What is the initial cash flow for the project

A new machine is to be purchased for $150,000. The company believes it will generate $60,000 annually in revenue due to the purchase of this machine. The company will have to train an operator to run this machine.

  What is increase or decrease in commercial banks reserves

(2) What increase or decrease in the commercial banks' reserves took place in each transaction (3) Assuming a reserve ratio of 20 percent, what change in the money-creating potential of the commercial banking system occurred as a result of each tr..

  What price will the firm charge to maximize its profits

A firm's total revenue is given by; TR= 30Q-Q^2 Its total cost function is given by TC= Q^2+10Q+10 a.find the profit maximizing output b.what price will the firm charge to maximize its profits

  State the null and the alternative hypotheses

Children in the United States account directly for $ 36 billion in sales annually. When their indirect influence over product decisions is considered, the total economic spending affected by children in the US is $ 290 billion.

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