How long will it take her to pay off debt

Assignment Help Financial Management
Reference no: EM131573320

Phoebe realizes that she has charged too much on her credit card and has racked up $6,200 in debt. If she can pay $250 each month and the card charges 17 percent APR (compounded monthly), how long will it take her to pay off the debt? (Do not round intermediate calculations and round your final answer to 2 decimal places.)

Time to pay off the debt           months

Reference no: EM131573320

Questions Cloud

Maintenance of interpersonal relationships : INTERPERSONAL RELATIONSHIPS - An understanding of the development and maintenance of interpersonal relationships
What are monthly payments : How would the payment differ if you paid interest only? What are the monthly payments?
Identify the control that could have prevented situations : Identify the control that could have prevented or deterred the above situations from occurring
Theorem-the number of elements in a list : Prove Theorem. (Let m be any integer and prove the theorem by mathematical induction on n.)
How long will it take her to pay off debt : If she can pay $250 each month and the card charges 17 percent APR (compounded monthly), how long will it take her to pay off the debt?
How many global catalog servers do you recommend for campus : How many global catalog servers do you recommend for the campus? How would you implement and configure these global catalog servers?
Find the horizontal distance to the point of impact : Find the horizontal distance to the point of impact from the point of release. Find the speed with which the rock strikes then river.
Apply the concepts from the language and conflict lecture : Apply the concepts from the Language and Conflict lecture by explaining which type(s) of conflict is present in each situation.
How many sundays are in the year : A certain non-leap year has 365 days, and January 1 occurs on a Monday.

Reviews

Write a Review

Financial Management Questions & Answers

  Dividend policy and the issue of new shares of common stock

Your firm needs to raise $10 million to finance its capital expenditures for the coming year. How much common stock will the firm have to issue?

  What is the capitalized worth

The original cost of a certain asset is $1,180. It has to be replaced (at this cost) every 4 years; the salvage value is negligible. What is capitalized worth.

  What is your portfolio return

Portfolio Return At the beginning of the month, you owned $6,200 of Company G, $8,500 of Company S, and $2,000 of Company N. The monthly returns for Company G, Company S, and Company N were 7.75 percent, -1.55 percent, and -.18 percent. What is your ..

  Collection of accounts receivable and developing budgets

The controller in a hospital is usually responsible for which of the following activities (choose all that apply): A. Collection of accounts receivable B. Developing budgets C. Filing Medicare cost reports D. Arranging hospital loans

  How much do you need to pay off this debt

You owe $10,000 to a credit card company. Your credit card debt is 127 days overdue after the grace period. The interest rate is 19%. How much do you need to pay off this debt?

  What is the horizon or terminal value

Hart Enterprises recently paid a dividend, D0, of $3.25. It expects to have nonconstant growth of 35% for 2 years followed by a constant rate of 5% thereafter. The firm's required return is 19%. What is the horizon or terminal value? What is the intr..

  Dele the dollar value for each scenario and select option

Goodyear Tire and Rubber Corporation has three options of whether to purchase a piece of equipment now or wait and buy it in the near future. The MARR requirement for the plant real return of 15% per year. If an inflation rate of 4% per year must be ..

  What is the return shareholders are expecting

Paychex Inc. Paychex Inc. (PAYX) recently paid an $0.96 dividend. The dividend is expected to grow at a 15 percent rate. The current stock price is $58.11(PAYX) recently paid an $0.96 dividend. The dividend is expected to grow at a 15 percent rate. T..

  Bank account to cover college expenses

you want to be able to withdraw $1,000 each quarter from your bank account to cover college expenses over the next 4 years.

  Estimate the incremental operating cash flows attributable

Wilber Corporation is considering replacing a machine. The replacement will cut operating expenses by $24,000 per year for each of the 5 years the machine is expected to last. Although the old machine has a zero book value, it has a remaining useful ..

  Cash available to pay out to the investors after firm pays

Companies use ____ in capital budgeting project analysis because ________. When borrowing money, you want to know the ____ interest rate because ____.  Cash available to pay out to the investors after the firm pays for new investments or additions to..

  Calculate average return of each stock-risk of each stock

Calculate average return of each stock and Calculate risk of each stock.

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