What is your annual effective interest rate

Assignment Help Business Economics
Reference no: EM13838706

If you have a credit card with 14.4% APR

What is your monthly interest rate and what is your annual effective interest rate?

If you have an outstanding balance of $1,800 on that card what would be the balance if you skipped 4 months payments (ignore credit card fees and penalties)

Reference no: EM13838706

Questions Cloud

How banks act to create and maintain money : Define what we mean by money and how it is used in the day to day functioning of the U.S. economy. Be sure to include the major components that make up what is defined as money and which of these components is used most widely to identify what money ..
Draw the new budget construing for the individual : An individual has an income of $1000 per month with which they buy the composite good with a price of $1 and food with a price $2/unit of food. Now assume that the government gives the individual food stamps worth $100. This is money that can only be..
Refrigerated trucks-monitoring temperatures during transit : Atlas Transportation is considering installing temperature logger in all its refrigerated trucks for monitoring temperatures during transit. If the systems will reduce insurance claims by $40,000 per year for 5 years how much should the company be wi..
semi annually through company-sponsored saving plan : Ryan expects to deposit $1,000 now, $3,000 four years from now, and $1,500 six years from now in an account that is earning 12% per year compounded semi annually through a company-sponsored saving plan. What amount can he withdraw ten years from now?
What is your annual effective interest rate : If you have a credit card with 14.4% APR. What is your monthly interest rate and what is your annual effective interest rate? If you have an outstanding balance of $1,800 on that card what would be the balance if you skipped 4 months payments (ignore..
Change in the importance of residential loans : What is the difference between lending to individual borrowers via a residential home mortgage compared to other types of consumer lending - Explain the difference between bank credit risk and bank capital risk?
Which is better the 2 month average or the 3 month average : Use a 2-month moving average on all the data and plot the averages and the prices. Use a 3-month moving average and add the 3-month plot to the graph created in part (a).  Which is better (using the mean absolute deviation): the 2-month average or th..
Non-union workers who command lower wage : A firm can hire unionized workers, who have received additional training and are therefore more productive than non-unionized workers, or non-union workers who command a lower wage. If the firm hires unionized workers, how many workers and how much c..
U-shaped average total cost curve implies what : A U-shaped average total cost curve implies what?

Reviews

Write a Review

Business Economics Questions & Answers

  Write the null and alternative hypotheses

Suppose minorities form 29 percent of a local population. A local business has 125 employees of which 28 are momorities. Did the business discriminate in its hiring practices? Write the null and alternative hypotheses. What is the value of the test s..

  How does the relative tax advantage change if company

How does the relative tax advantage change if the company decides to pay out all equity income as cash dividends that are taxed at 15%?

  Operates a major hydropower dam

“Dams ‘R’ Us” operates a major hydropower dam on the Klamath River in Oregon. In the event of dam failure, there would be major damages to local communities. The company can reduce the probability of failure through proper maintenance of the facility..

  Q1 as the ending of month approaches you realize that you

q1. as the ending of month approaches you realize that you perhaps will not be able to pay the next months rent.

  Elucidate how it would function under market conditions

Pick an industry (personal computers, autos, etc.) and elucidate how it would function under market conditions of perfect competition, monopolistic competition, monopoly, and oligopoly. Of these, describe why you think one benefits consumers more ..

  How do markets operate to bring this product into existence

Examine the effects of supply and demand of milk. How do markets operate to bring this product into existence? Think about how these different markets work together to create a new product. How does that relationship affect supply and demand for the ..

  Currencies cause the trade deficit

Why might variations in the dollar's value in terms of other currencies cause the trade deficit to move independently from the changes in the government budget deficit.

  Explain how would you describe this industry

Industry structure is often measured by computing the Four-Firm Concentration Ratio. Suppose you have an industry with 20 firms and the CR is 30. Explain how would you describe this industry.

  Anti-trust measures

Anti-trust Measures. Identify a particular market that has experienced government anti-trust efforts or you think should have antitrust efforts. Analyze what type of market structure was in existence at the time of the anti-trust measures or is in cu..

  Market identified as having monopolistic competition

In economics, what is meant by an Oligopoly? What are some ways to make a distinction between an Oligopolistic Market and a Market identified as having Monopolistic Competition?

  Income elasticity of demand for dental care

RAND study found that the income elasticity of demand for dental care is 0.15. Over the last one decade, income of the population has increased by 21%. Therefore, the income effect alone should a)Increase the demand for dental care by about 3% b)Incr..

  Supply and demand model of the wholesale gasoline market

Construction contractors are the buyers of Portland cement, a key ingredient in concrete. Neither construction contractors nor their customers use much coal. Consider a supply and demand model of the wholesale gasoline market. If a tropical storm for..

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