How many months will it take to completely pay off

Assignment Help Accounting Basics
Reference no: EM133153132

Question - Joey has an outstanding credit card balance of $49,526 carrying an APR finance rate of 15.3% (note interest will be compounded monthly) and requiring minimum monthly payments of $910 per month -If only the minimum monthly payment is made, how many months will it take to completely pay off this credit card balance (assuming no new charges)?

Reference no: EM133153132

Questions Cloud

How much can dawn claim as an itemized? deduction : Dawn's adjusted gross income is ?$23,300. Dawn has ?$4,943 in unreimbursed medical expenses. How much can Dawn claim as an itemized? deduction
Promote a positive image : Research some guidelines for developing engaging media releases that will promote a positive image.
Dealing with customer over the phone : Develop a procedure that outlines the expectations of your reception/customer contact staff when dealing with customer over the phone and also face to face (the
What organizations is mary mcleod bethune associated : 1. With what organizations is Mary McLeod Bethune associated? 2. What does Bethune fear will happen to the black man in America and why?
How many months will it take to completely pay off : If only the minimum monthly payment is made, how many months will it take to completely pay off this credit card balance (assuming no new charges)
Overview of your event design and event proposal : Identify and briefly describe any issues or problems with the event pitch (Assignment 2) that need to be addressed in your event plan
Vroom expectancy theory : Susan wants the new job, and she thinks that she has a pretty good shot at it. Therefore, according to "Vroom's Expectancy Theory," Susan will be very motivated
Determine the total variable overhead variance : The standard variable overhead rate was $6 per hour. Determine the total variable overhead variance of Boysenberry for the month of January
What needs to happen to tighten up laws : In today's world of social media, privacy has become a key concern. What are some of the issues and what needs to happen to tighten up these laws as Canada's ar

Reviews

Write a Review

Accounting Basics Questions & Answers

  Make an income statement for the year ended june

The activities of Honey Retailers for the year ended 30 June 2020: Make an income statement for the year ended 30 June 2020

  Eli company purchased assets of whitney inc at auction

eli company purchased assets of whitney inc. at auction paying 500000. an independent appraisal of fair market value of

  What is the interest expense to be reported for the year

The bonds are dated October 1, 2002 and pay semiannual interest on April 1 and October 1. What is the interest expense to be reported for the year 2002

  Identify one well-known company that began as a partnership

Some large organizations actually began as partnerships. You are to identify one well-known company that began as a partnership.

  Why does it matter whether social security is considered

What unique issues does the federal government face in calculating the actuarial value of its Social Security obligation that a private corporation would not face in calculating the corresponding obligation of its pension plan?

  Examples of accounting topics

Using information from this chapter and earlier give examples of accounting topics on which there are major differences between two national accounting systems or between a national system and IFRS.

  What amount should be reported in the balance sheet

Sandhill purchased a patent from Vania Co. for $1,300,000 on January 1, 2015. What amount should be reported in the balance sheet for the patent

  What is a Public Good

What is a "Public Good"? Why do some researchers argue that key landmark innovations or their facilitating infrastructure

  How much cash should grant receive from the bank on may

Grant discounted the note at Eagle National Bank at a 12% discount rate. How much cash should Grant receive from the bank on May 15?

  Compute the effective interest rate on this bond

The effective interest rate on this bond is imputed as the internal rate of return, Compute the effective interest rate on this bond

  What are the potential negative effects of decentralization

Ladue, Inc. has used a decentralized form of organizational structure for the past five years. What are the potential negative effects of decentralization

  Prepare the closing entries For Laura Co

Commission revenue 9000 Supplies 21000 Rent revenue 2300 Taxes expenses 2300. Prepare the closing entries For Laura Co

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