User Account

All Pages

Paying the minimum payment

Assignment Help Finance Basics
Reference no: EM132525475

Francisco has credit card debt in the amount of $12,347. Assume that Francisco's credit card has APR of 15.75% .

(a) If he makes no additional purchases on his card how long will it take him to pay off his debt if he only pays the minimum monthly payment of $410?

(b) How much does he wind up paying the credit card company by only paying the minimum payment?

Reference no: EM132525475

Questions Cloud

Identify the problems of the discounted cash flow : Identify the problems of the discounted cash flow (DCF) analysis for valuing a project and explain the reasons that managers might use real options analysis
Variance and standard deviation of the portfolio : Rachel is a financial investor who actively buys and sells in the securities market. Now she has a portfolio of all blue chips, including: $13,500 of
What is the contingent asset value : (i) What is the contingent asset value (round to two decimals)? (ii) how would you interpret the delta of 0.45?
Loan payments are made annually : Consider a $100,000, 5 year fixed payment loan at 9% interest. The loan payments are made annually. Complete the table below.
Paying the minimum payment : (b) How much does he wind up paying the credit card company by only paying the minimum payment?
Which project should the company select and why : Giant Equipment Ltd. is considering two projects to invest next year. Both projects have the same start-up costs. Project A will produce annual cash flows of $4
How much money will be in the account : If someone 20 years old deposit $5,000 each year into a savings account for 50 years at an 8% interest compounded annually, how much money will be in the accoun
Sustainable growth rate : How does the internal growth rate differ from the sustainable growth rate? Which one will generally be higher? Why?
What would be its internal growth rate : If a firm has a payout ratio of 40%, a net profit margin of 10%, and a total asset turnover of 2, what would be its internal growth rate?

Reviews

Write a Review

Finance Basics Questions & Answers

  Financial reporting and analysis

Finance is about Gunns Ltd, a company in dealing with forestry products in Australia. The company has also been listed in Australian Stock Exchange. As many companies producing forestry products, even Gunns Ltd is facing various problems. Due to the ..

  A report on financial accounting

This report is specific for a core understanding for Financial Accounting and its relevant factors.

  Describe the types of financial ratios

Describe the types of financial ratios and other financial performance measures that are used during venture's successful life cycle.

  Differences between sole proprietorship and corporation

Briefly describe the major differences between a sole proprietorship and a corporation

  Prepare a cash budget statement

Calculate the expected value of the apartment in 20 years' time. What is the mortgage loan repayment at the beginning of each month

  What are the implied interest rates

What are the implied interest rates in Europe and the U.S.?

  State pricing theory and no-arbitrage pricing theory

State pricing theory and no-arbitrage pricing theory

  Small business administration

Identify the likely stage for each venture and describe the type of financing each venture is likely to be seeking and identify potential sources for that financing.

  Effect of financial leverage

The Effect of Financial Leverage and working capital management

  Evaluate the basis for the payment to the lender

Evaluate the basis for the payment to the lender and basis for the payment to the company-counterparty.

  Importance of opps, ipps, mpfs and dmepos

Research and discuss the differences and importance of : OPPS, IPPS, MPFS and DMEPOS.

  Time value of money

Time Value of Money project

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd