What monthly payment will pay off the debt

Assignment Help Finance Basics
Reference no: EM131996242

Question: A MasterCard statement shows a balance of $530 at 13.1% compounded monthly. What monthly payment will pay off this debt in 1 year 5 months? (Round your answer to the nearest cent.) The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

Reference no: EM131996242

Questions Cloud

Determine the selling price for the product : Determine the selling price for the product, assuming that the company desires to earn a gross margin of $20.40 per unit.
Heat evolved by the combustion of glucose : A bomb-type calorimeter is used to measure the heat evolved by the combustion of glucose, C6H12O6. Write the balanced reaction.
What is the ph of a solution that results from addition : What is the pH of a solution that results from addition of 100 ml of 1 M HCl (a strong acid) with 100 ml of 1 M NaOH (a strong base)?
Determining the thermochemical equation : When 5.00 g of butane, C4H10 (g), burns in oxygen, 247 kJ of heat are released. What is ?H for the following thermochemical equation?
What monthly payment will pay off the debt : A MasterCard statement shows a balance of $530 at 13.1% compounded monthly. What monthly payment will pay off this debt in 1 year 5 months?
Molality of nicotine in an aqueous solution : a. What is the molality of nicotine in an aqueous solution that starts to freeze at -0.650°C?
What is the depreciation tax shield of the project : Mauren's Marketing Markers is considering installing a new manufacturing machine which is expected to produce sales of $70,000 a year for 7 years.
Concentration of non-dissociating solute particles : What concentration of non-dissociating solute particles in water will provide an "isotonic" (a solution with equal osmotic pressure) eyedrop solution?
What are the benefits to technology within the workplace : What are the benefits to technology within the workplace? What technology do you use in the workplace?

Reviews

Write a Review

Finance Basics Questions & Answers

  What is the par yield for semiannual coupon bond

The continuously compounded 6-month, 12-month, 18-month, and 24-month zero rates are 5%, 5.25%, 5.35%, and 5.5%, respectively.

  Evaluate npv of investment under the best-case assumptions

Evaluate the NPV of the investment under the best-case assumptions.  Explain how sensitivity and scenario analysis are useful for evaluating project risk? How can break-even analysis be helpful in evaluating project risk?

  How would the payment differ if you paid interest only

You wish to buy a $9,000 dining room set. The furniture store offers you a 3-year loan with an 10 percent APR. What are the monthly payments?

  Stock in cdb industries has a beta of 91 the market risk

stock in cdb industries has a beta of .91. the market risk premium is 7.1 percent and t-bills are currently yielding

  Pro forma income statement and balance sheet

Using the company's financial statements, construct a pro forma income statement and balance sheet for the company using the percentage-of-sales method.

  What is the role of the trustee associated

What is the role of the trustee associated with a bond issue? Find the Internet site for a trust firm and provide the link for your classmates.

  Suppose that lilymac photography has annual sales of 234000

suppose that lilymac photography has annual sales of 234000 cost of goods sold of 169000 average inventories of 4900

  What is the growth rate

ABC is expected to pay a dividend of $1.7 per share at the end of the year. The stock sells for $148 per share, and its required rate of return is 17.9%. The dividend is expected to grow at some constant rate, g, forever. What is the growth rate (..

  Determining the multistage ddm

Lifecycle Motorcycle Company is expected to pay a dividend in year 1 of $2.00, a dividend in year 2 of $3.00, and a dividend in year 3 of $4.00. After year 3, dividends are expected to grow at the rate of 7% per year. An appropriate required retur..

  Adapting the cumulative-size method to draw a sample

Adapt the cumulative-size method to draw a sample of size 10 with replacement with probabilities ?i.

  Learn about the capital budgeting process

In this assignment, you will learn about the capital budgeting process, which is basically how companies evaluate their investment in various projects, such as buying new machinery or expanding into a new plant. In addition, you will learn about t..

  What is the total annual fixed cost

What is the total annual fixed cost for a $45,000 tractor with a 12-year life and a $9,000 salvage value, when insurance and taxes are 2 percent of average

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