What is effective annual rate on your credit card

Assignment Help Financial Management
Reference no: EM131957034

1. Your credit card quotes annual rate of 22%. What is the effective annual rate on your credit card if you make monthly payments? b.By law, financial institutions are required to report the simple rate (no effects of compounding included). This rate is called Annual Percentage Rate (or APR). Suppose that you have a mortgage on your house and you calculate that with monthly payments, your effective annual rate is 7%. What APR should your bank quote?

2. You loaned a person $500 and you said that you would charge him 15% annual interest. If you get paid back, $110 per year, how many years will it take to pay this off?

Reference no: EM131957034

Questions Cloud

Unclear definition of responsibility : Unclear definition of responsibility — there will be numerous occasions for conflict to arise over decisions made or actions taken in disputed territory.
Calculate the dividend for year 15 : 1. Calculate the dividend for year 15 if Do is $2.50 and growth is 6%.
Calculate the break-even ticker sales for each band : Calculate the break-even ticker sales for each band. Express your answer as a percentage of estimated ticket sales
Determine the significant factors that made implementation : Research a company that you believe has done an excellent job in creating, communicating, and executing its stated strategy.
What is effective annual rate on your credit card : What is the effective annual rate on your credit card if you make monthly payments?
What is sears before-tax component cost of debt : Sears has a $150 million 15-year bond issue currently selling for 108 percent of par that carries a coupon rate of 5 percent, which is paid annually.
What is the effective or after-tax cost to your employer : Suppose your employer's marginal corporate tax rate is 25%. What is the effective or after-tax cost to your employer?
What services does the hospice provide for the survivors : Does the hospice do anything to teach the meaning of death to the person who is dying and people close to that person?
Calculate the npv of the project : Calculate the NPV of the following project. Should the firm invest in this project? Year Cash Flow 0 -20,000 1 8,000 2 6,000 3 5,000 4 10,000

Reviews

Write a Review

Financial Management Questions & Answers

  Foreign company acquisition

Acquisition by a foreign company and the effects of that decision and the results of foreign exchange in Euro and the exchange rate differences.

  Financial management for profit and non profit organizations

In this essay, we are going to discuss the issues of financial management in a non-profit organisation.

  Method for estimating a venture''s value

Evaluate venture's present value, cash and surplus cash and basic venture capital.

  Replacement analysis

This document show the Replacement Analysis of modling machine. Is replacement give profit to company or not?

  Business finance task - capital budgeting

Your company is considering using the payback period for capital-budgeting. Discuss the advantages and disadvantages of this technique.

  Analysis of the investment

In this project, you will focus on one of these: the additional cost resulting from the purchase of an apple press (a piece of equipment required to manufacture apple juice).

  Conduct a what-if analysis

Review the readings and media for this unit, including the Anthony's Orchard case study media. Familiarise yourself with the Anthony's Orchard company and its current situation.

  Determine operational expenditures

Organisations' behaviour is guided by financial data. In the short term, such data will help determine operational expenditures; in the long term, historical data may help generate forecasts aimed at determining strategic plans. In both instances.

  Personal financial management

How much will you have left over each half year if you adopt the latter course of action?

  Sources of finance for expansion into new foreign markets

A quoted company is considering several long-term sources of finance for expansion into new foreign markets.

  Long term financial planning

This assignment is designed for analyze Long term financial planning begins with the sales forecast and the key input in the long term fincial planning.

  Explain the role of fincial manager

This assignment explain the role of fincial manager, function of manger. And what are the motives of financial manager.

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