How much must you pay each month

Assignment Help Financial Management
Reference no: EM131573497

Your credit card has a balance of exist 5100 and an annual interest rate of 16%. You decide to pay off the balance over three years. If there are no further purchases charged to the card,

a. How much must you pay each month?

b. How much total interest will you pay?

a. The monthly payments are approximately exist (Do not round until the final answer. Then round to the nearest dollar as needed.)

Reference no: EM131573497

Questions Cloud

Use the power sizing model to calculate the expected cost : The power sizing exponent x is believed to be 0.80. Use the power sizing model to calculate the expected cost of the 60 story building.
Private limited company to pursue chemical research : In 2008, Dee, Fi, Gee and Ki formed a private limited company to pursue chemical research. to remove Dee from the board of directors;
Beth expressly excluded her personal liability : Advise Beth with regard to her liability, if any, to Kempstons Ltd. Beth expressly excluded her personal liability?
Publisher specialising in producing scientific textbooks : Ano Ltd is a publisher specialising in producing scientific textbooks. In January 2013, What action Box can take against Ano Ltd to enforce additional payment.
How much must you pay each month : How much must you pay each month? How much total interest will you pay?
Family should spend each month on mortgage payment : What is the maximum amount the family should spend each month on a mortgage payment?
Each would hire in the private market nash equilibrium : Find the number of firemen that each would hire in the private market Nash equilibrium. What is the socially optimal number of firemen?
Describe four different ways to implement technology : Describe four (4) different ways to implement technology and/or technology software in the lives of early childhood aged children as it relates to the positive
Define your companys market for a new or existing product : Provide an introduction to Market Analysis using the criteria listed. Define your company's market for a new or existing product.

Reviews

Write a Review

Financial Management Questions & Answers

  Calculate the rate of return of our retirement savings

For the first part of this plan, we need to calculate the rate of return of our retirement savings will earn until we reach our retirement age (67 years old)

  Maximum possible gain and loss in covered call position

What is the maximum possible gain and loss in this covered call position?

  Forward discount relative to the pound

Suppose it is January 1, 1998 and spot pounds are selling at $1.7342, while 90 day forward pounds are selling at $1.7156. At the same time, DM spot and 90 day forward rates are $0.6138 and $0.6014, respectively. According to these quotes the

  What is present value of the given uneven cash flow stream

What is the present value of the given uneven cash flow stream -$50, $100, $75, and $50 at the end of Years 0 through 3?

  It is when a principal is unsatisfied with an agent

Define the concept of agency problems and cite three examples of such problems. it is when a principal is unsatisfied with an agent

  Using the rate of return on the stock as the cost of equity

XYZ Inc has a capital structure that consists of 40% debt and 60% common stock. Dividends are growing at a constant rate of 5% and the current dividend is $2.00. The stock is currently selling for $21.88. The before tax cost of debt is 14% and the fi..

  What is the delta of a short position in european call

What is the delta of a short position in 1,000 European call options on silver futures? - The options mature in 8 months, and the futures contract underlying the option matures in 9 months.

  Regulations require that taxes be withheld at time dividend

Dark Day, Inc., has declared a $5.80 per share dividend. Suppose capital gains are not taxed, but dividends are taxed at 10 percent. New IRS regulations require that taxes be withheld at the time the dividend is paid. Dark Day sells for $94.20 per sh..

  Decrease the after-tax cost of debt for firm

Which one of the following will decrease the after-tax cost of debt for a firm?

  What is the levered internal rate of return

You are considering the acquisition of a small office building. The purchase price is $775,000. Seventy-five percent of the purchase price can be borrowed with a 30-year, fully amortized mortgage with a 7.5% interest rate. Payments will be made annua..

  Estimated instrinic value per share of common stock

ABC Telecom Inc. is expected to generate a free cahs flow (FCF) of $9,900.00 million this year (FCF?1 ?= $9,900.00 million), and the FCF is expected to grow at a rate of 20.20% over the following two years (FCF2 and FCF3?). ABC Telecom Inc. debt has ..

  Regarding their retirement saving

Peter and his wife realized that they need to prepare for retirement. Write a financial goal for peter and mary regarding their retirement saving.

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