What will your credit card balance be in three months

Assignment Help Financial Management

Reference no: EM131998641

1. You currently owe $2500 of your credit card that charges an annual interest rate of 20.5%. You make $203 of new charges every month and make a payment of $111 every month. What will your credit card balance be in three months?

2. You would like to retire in 25 years. The expected rate of inflation is 2% per year. You currently have a standard of living that requires $6000 of monthly expenses. Assuming you want to maintain the same standard of living in retirement, what are your monthly expenses expected to be the first year of retirement?

3. You purchases a house for $145000. You made a down payment of $20,000 and the remainder of the purchase price was financed with a mortgage loan. The mortgage loan is a 25 year mortgage with an annual interest rate of 5.0%. Mortgage payments are made monthly. What is the monthly amount of your mortgage payment?

Reference no: EM131998641

Questions Cloud

The required return on this stock : Metallica Bearings, Inc., is a young start-up company. If the required return on this stock is 9 percent, the current share price is.

Statement of problem or problems facing the firm : Statement of problem or problems facing the firm. State the problem(s) clearly and succinctly. Explain why you believe it (or they) is important

Maximum amount of total profit of the firm : Determine the value of the maximum amount of total profit of the firm.

Demonstrate a comprehensive understanding of e-business : The final six- to eight-page paper will demonstrate a comprehensive understanding of E-Business topics and concepts.

What will your credit card balance be in three months : You make $203 of new charges every month and make a payment of $111 every month. What will your credit card balance be in three months?

Determine the level of output : Given the following cost function, determine the level of (nonzero) output at which the cost function is minimized, and the level of the costs. MC=200-48Q+3Q^2

What are the best tools to use in this situation : As you close your weekly meeting with Deborah, she says, "There are some very good ideas here. I would like to see you continue with a global marketing plan.

Expand store in the short run : If Mary has signed a lease for a shop with 1,000 square feet, if she is not able to get out of the lease or to expand her store in the short run

Find market risk premium and required returns on stocks : What is the difference between A's and B's required rates of return?

User Account

All Pages