How much interest would she pay

Assignment Help Financial Management
Reference no: EM131306157

Credit Card Interest- Margie has had a tough month. First, she had dental work that cost $700. Next, she had her car transmission rebuilt, which cost $1,400. She put both of these unexpected expenses on her credit card. If she does not pay her credit card balance when due, she will be charged 15% interest. Margie has $15,000 in a money market account that pays 5% interest.

How much interest would she pay (annualized) if she does not pay off her credit card balance?

How much interest will she lose if she writes the check out of her money market account? Should she write the check?

Reference no: EM131306157

Questions Cloud

How much interest do you pay each year : Card B has an APR of 14%, but also charges a $25 annual fee. Jarrod will not pay off his balance each month, but will carry a balance forward of about $400 each month. Which credit card should he choose?
List three phases in virtual-circuit approach to switching : If a label in a connection-oriented service is 8 bits, how many virtual circuits can be established at the same time?
Calculate the standard deviation : A company is thinking about launching product. The table below shows the analyst conclusions with respect to the demand and return for the company on the product. Calculate the standard deviation. Show all work
What will her total annual interest be with her current card : Chrissy currently has a credit card that charges 15% interest. She usually carries a balance of about $500. What will her total annual interest be with her current card?
How much interest would she pay : How much interest would she pay (annualized) if she does not pay off her credit card balance?- How much interest will she lose if she writes the check out of her money market account? Should she write the check?
Which link is the bottleneck now : What is the throughput between the source and destination after these changes? Which link is the bottleneck now?
Are there any product quality dimensions related to decision : What social costs are incurred when a company moves domestically or overseas?What role do local and national government incentives, laws, and regulations play in a decision like this one?Are there any product quality dimensions related to this decisi..
What will the total of troys new balance : What will the total of Troy's new balance be on his next credit card statement, taking into account finance charges?
How much will she pay annually to her credit card company : Her credit card charges her 20% annually on outstanding balances. If Eileen does not reduce her credit card debt, how much will she pay annually to her credit card company?

Reviews

Write a Review

Financial Management Questions & Answers

  What must be the opportunity cost of capital

A stock sells for $30. The next dividend will be $6 per share. If the return on equity ROE is a constant 15% and the company reinvests 20% of earnings in the firm, what must be the opportunity cost of capital?

  How much gain or loss resulted from the sale

A person owned 300 shares of MNO common stock, which cost $23,400.- How much gain (or loss) resulted from the sale?

  What is the irr of the set of cash flows

What is the IRR of the following set of cash flows?

  tax rate-Computer-based order entry system

Your firm is contemplating the purchase of a new $660,000 computer-based order entry system. The system will be depreciated straight-line to zero over its six-year life. It will be worth $51,000 at the end of that time.

  Spot exchange rate be according to the law of one price

The price of silver in the U.K. is £12.00/oz. The price of silver in the U.S. is $18.00/oz. a. What should the $/£ spot exchange rate be according to the Law of One Price (LOP)? For an arbitrage trade with 100,000 ounces of silver, calculate and repo..

  Using the P-E ratio approach to valuation

Using the P/E ratio approach to valuation, calculate the value of a share of stock under the following conditions: The investor's required rate of return is 13 percent. the expected level of earnings at the end of this year is $4. Now show that you g..

  Bullish on a particular security

You are bullish on a particular security and have $500 to invest. The stock is trading for $100. Call options with a strike price of $100 are trading for $1.00. You decide to invest your entire $500 by purchasing call options. How many options contra..

  What is the bonds yield to maturity and yield to call

General Electric has just issued a callable (at par) ten-year 8% coupon bond with annual coupon payments. The bond can be called at par in one year or anytime thereafter on a coupon payment date. It has a price of $104 and a face value of $104. What ..

  Q1 nbspnbsp a define agency problem explaining two types of

q1. nbspnbsp a define agency problem explaining two types of agency costs.b comment on the following quote... agency

  If the bonds yield to maturity changes

Suppose a ten-year, $1,000 bond with an 8.2% coupon rate and semiannual coupons are trading for $1,035.33. What is the bond's yield to maturity? (expressed as an APR with semiannual compounding) (Two decimal places) If the bond's yield to maturity ch..

  What was your dividend yield and capital gains yield

Suppose you invested $98 in the Ishares High Yield Fund (HYG) a month ago. It paid a dividend of $0.47 today and then you sold it for $99. What was your dividend yield and capital gains yield on the investment?

  Target capital structure-what is its cost of common equity

Patton Paints Corporation has a target capital structure of 35.60% debt and 64.40%common equity, with no preferred stock. Its before-tax cost of debt is 7.80%, and its marginal tax rate is 30.00%. The current stock price is $22.00. The last dividend ..

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