How long will it take to pay off your balance

Assignment Help Financial Management

Reference no: EM131599955

You charged $4000 on your credit card for holiday gifts. Your credit card company charges you 9% annual interest, compounded monthly. If you make the minimum payments of $70 per month, how long will it take (to the nearest month) to pay off your balance?

Reference no: EM131599955

Questions Cloud

Firm to sell inventory assuming that all sales are on credit : How many days, on average, does it take the firm to sell its inventory assuming that all sales are on credit?

Calculating the operating profit ratio for fiscal years : Analyze the profitability of Wal-Mart by calculating the operating profit ratio for fiscal years ending 1/31/2016 and 1/31/ 2015.

Glass cockpit multi function displays integrating flight : Later, the customer has your shop install an expensive upgraded avionics suite including the latest “glass cockpit” multi function displays integrating flight.

Calculating gross profit ratio for fiscal years : Analyze the profitability of Wal-Mart by calculating gross profit ratio for fiscal years ending 1/31/2016 and 1/31/ 2015. Use “Net sales” in your calculations.

How long will it take to pay off your balance : You charged $4000 on your credit card for holiday gifts. how long will it take (to the nearest month) to pay off your balance?

Stock-market anomalies offer proof of the validity : Which of the following is true about the January effect? Stock-market anomalies offer proof of the validity of.

What is their weighted average cost of capital : If Excel’s weighted average tax rate is 39 percent and its cost of equity is 15 percent, what is their weighted average cost of capital.

Describe the steps you would take to short sell the stock : How would thw stock price change to make profit ? Describe the steps you would take to short sell the stock.

Accrued interest due to seller from the buyer at settlement : On October 5, 2015, you purchase $10,000 T-note that matures on August 15, 2027. Calculate the accrued interest due to the seller from the buyer at settlement.

User Account

All Pages