Outstanding balance at the end of each month

Assignment Help Financial Management
Reference no: EM13948906

On a credit card that currently has a $7,500 balance and an interest rate of 14.99% (compounded monthly, charged on the outstanding balance at the end of each month), how long will it take to pay off the card if I make payments of $150 each month?

Reference no: EM13948906

Questions Cloud

Investor risk neutral-risk lover or risk averse : Consider a one year, 7% coupon bond with a par value of $1000 issued by a private corporation. The one year risk-free rate is 9%. The corporation has hit on hard times and the consensus is that there is a 30% probability that it will default on its b..
Calculate the minimum and maximum transfer prices : Calculate the minimum and maximum transfer prices. Calculate the full cost plus transfer price that would represent this transfer price.
Priorities of our health care system : Quality in medical care may be defined as achieving the greatest benefit at the lowest risk. How have the priorities of our health care system and the allocation of resources addressed this goal?
A zero coupon bond with a face value : A zero coupon bond with a face value of $1,000 is issued with an initial price of $475.00. The bond matures in 25 years. What is the implicit interest, in dollars, for the first year of the bond's life?
Outstanding balance at the end of each month : On a credit card that currently has a $7,500 balance and an interest rate of 14.99% (compounded monthly, charged on the outstanding balance at the end of each month), how long will it take to pay off the card if I make payments of $150 each month?
Determine the angular velocity of gear : A motor gives gear A an angular acceleration of aA = (2 + 0.006 u2) rad> s2, where u is in radians. If this gear is initially turning at vA = 15 rad> s, determine the angular velocity of gear B after A undergoes an angular displacement of 10 rev.
Rate of return that investors will demand of the portfolio : A mutual fund manager expects her portfolio to earn a rate of return of 10% this year. The beta of her portfolio is .9. Assume rate of return available on risk-free assets is 3% and you expect the rate of return on the market portfolio to be 13%. Cal..
Market analysis and assessment identifies : What does its balance of payments (BOP) reveal about a country? Include in your explanation the relevance of the International Monetary Fund (IMF), the importance of the U.S. dollar, and special drawing rights (SDR).
How should lorne respond to rosarios request : Suppose that the plastics factory is producing at capacity and can sell all that it produces to outside customers. How should Lorne respond to Rosario's request for a lower transfer price?

Reviews

Write a Review

Financial Management Questions & Answers

  Should you exercise or not exercise the call-explain

Suppose you paid $5 for a $20 call option (strike price = $20) months ago. This option expires today and the current stock price is $22. If you exercise the call, the call payoff is $2 (=$22 - $20) and the profit will $2 - $5 = -$3. Should you exerci..

  Prepaid finance charges

"A borrower takes a $300,000 loan with fixed rate of 4% amortized with monthly payments over 30 years. There are prepaid finance charges of 1 point on the loan amount plus $1,500. Calculate the APR. [Format Answer as a percentage - X.XX]"

  What is a prospectus

Lisa is interested in purchasing 1,000 shares of TJH, Inc. when the shares are issued. Her broker just gave Lisa a preliminary prospectus on these shares for her to review as she waits for the shares to be cleared for sale. What is the name of this p..

  Biotechnology firm that is about to announce the results

Theorem Medical, is a biotechnology firm that is about to announce the results of its clinical trials of a potential new cancer drug. If the trials were successful, Theorem stock will be worth $65 per share. Based on the current share price, what sor..

  Calculate the increase in volume necessary to cover cost

Next year ABC healthcare organization will serve 100 patients in the following manner. 30 Medicare Patients who pay charges less 30%/diagnosis. 20 Medicaid patients who pay charges less 30% per diagnosis. Calculate the increase in volume necessary to..

  Preferred stock-what is the value of the stock

A company is issuing preferred stock that will pay a 4% dividend but will not pay the first dividend until 6 years from now. If the required return is 8%, what is the value of the stock today? Assume a par value of $100.

  Identical in every way except their capital structures

Alpha Corporation and Beta Corporation are identical in every way except their capital structures. Alpha Corporation, an all-equity firm, has 15,000 shares of stock outstanding, currently worth $30 per share. Beta Corporation uses leverage in its cap..

  Capital budgeting analysis due to the effects of inflation

Which one of the following categories would be least likely to require annual adjustments in a capital budgeting analysis due to the effects of inflation?

  Annual effective interest rate

The following two investment options are viewed under an annual effective interest rate of i. Investment A is a 10-year zero coupon bond which redeems at par-value 250. Investment B is a perpetuity-immediate paying an annual payment starting with 4 a..

  Firm has decided to renew part of production process

A firm has decided to renew part of its production process by acquiring a new and more efficient machine at a cost of $24 million which can be depreciated on a linear basis over 4 years. At the end of the project, the resale market value of the machi..

  Based on the dividend growth model

Based on the dividend growth model, why might a company be hesitant to reduce its dividend growth rate? Certain industries such as utilities are known for generally high dividend payout ratios, whereas other industries exhibit generally low or no div..

  The firm manufactures a global positioning system gps that

the firm manufactures a global positioning system gps that sells for 2000 with cost of goods sold hardware 30 and

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