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How much are willing to sell a goose

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Question 1) You owe $5,000 on credit card debt. You only want to pay the monthly minimum payment of $100. How long (in months, to 2 decimals) does it take to pay off your debt if the interest rate on the card is 18%?

Question 2) How much are you willing to sell a goose that lays golden eggs which can sell for $6,000 every year (at the end of the year) forever, assuming your opportunity cost of money is 5%? Assume gold price to be constant.

Reference no: EM132497305

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