What would be their monthly payments for using the mbna true

Assignment Help Financial Accounting
Reference no: EM132966200

Briar is planning to apply for a new credit card and is considering the following three choices. They are also planning to buy a $800 big screen television and plans to pay for this over a two-year period by making equal monthly payments.

Credit Card

                                                 Annual Interest Rate       Annual Fee

MBNA True Line Master Card              8.99%                $39

CIBC Select VISA Card                    13.99%                 $29

American Express Essential Credit Card   12.99%                $0

Problem 1: What would be their monthly payments for using the MBNA True Line Master Card over a two-year period?

Option 1: $35.75

Option 2: $36.54

Option 3: $35.77

Option 4: $31.76

Option 5: $36.84

Problem 2: What would be his monthly payments for using the CIBC Select VISA card over a two-year period?

Option 1: $39.84

Option 2: $31.45

Option 3: $40.55

Option 4: $38.41

Option 5: $37.00

Reference no: EM132966200

Questions Cloud

How much will net operating income increase : If the sales manager's ideas are implemented, how much will net operating income increase or decrease over last year
What would be his monthly payments for the american express : What would be his monthly payments for the American Express Essential Credit Card over a two-year period? They are planning to buy a $800 big screen television
Discuss understanding of concept of financial management : Discuss your understanding of the concept of financial management. A goal of financial management is to maximize the shareholders' value
Dysfunctional conflict by modifying organization culture : The management of an organization can reduce dysfunctional conflict by modifying the organization's culture. How?
What would be their monthly payments for using the mbna true : What would be their monthly payments for using the MBNA True Line Master Card over a two-year period? What would be his monthly payments for using the CIBC
What is the outstanding balance at the end of year six : Malika promises to repay a loan in 10 equal payments of $42,000. The interest rate is 6%. What is the outstanding balance at the end of year 6
Business government and society : How does quid pro quo harassment differ from "hostile environment" harassment? What steps should a corporation utilize to deter harassment?
Impact of corporate business practices on employees : Q1. Examine the impact of corporate business practices on employees, communities and the environment.
What amount of interest expense related to the bonds : What amount of interest expense related to the bonds will LHD report in its income statement for the year ending December 31, 2021

Reviews

Write a Review

Financial Accounting Questions & Answers

  Amount of days'' sales uncollected

3. In the December 31 financial statements, the following balances were reported: Cash $40,000, Accounts Payable $12,000, Accounts Receivable $49,000, and Net Sales $260,000. What is the amount of days' sales uncollected

  Prepare adjusting entry to record these bonds at fair value

Assume that the fair value of the bonds at December 31, 2017, was $2,200,000. Prepare the adjusting entry to record these bonds at fair value.

  Can lane compel honeycutt to return boat-motor and trailer

Fred Lane, who sells boats, motors, and trailers, sold a boat, motor, and trailer to John Willis in exchange for a check for $6,285. The check was not honored when Lane attempted to use the funds. Willis subsequently left the boat, motor, and trailer..

  Find what will happen to the firm current ratio

The King Carpet Company has $3,130,000 in cash and a total of $12,180,000. If they carry this plan through, what will happen to the firm's current? ratio

  Explain the journal entry when the note is paid by abc

Show and explain the journal entry when the note is paid by ABC corporations. On september 20th, 2019 ABc corporation borrowed $ 250,000 from the bank

  Should the company continue to manufacture the part

What is the total incremental cost of making 50,000 and buying 50,000 units. Should the company continue to manufacture the part, or should it buy.

  Prepare dated journal entries to record the transactions

Prepare dated journal entries to record the transactions and assume that Econ did not enter into a forward contract. Prepare dated journal entries to record the transactions above.

  Prepare journal entries in all funds journals-transactions

Prepare journal entries in all Funds journals and/or Activity journal for the related transactions provided. The following transactions occurred for the City of Fontaine’s General Fund. The budget prepared for the fiscal year included Total estimated..

  What is the total amount of revenue

What is the total amount of Revenue from Long-Term Contracts and Construction Expenses that Pharoah will recognize for the year ended December 31, 2020

  Develop a reasonable retirement plan for the client

Develop a reasonable retirement plan for the client. Specifically, describe a well-reasoned savings plan that will meet the client's goals. In doing so

  By how much will misvalue the firm

By how much will you misvalue the firm if its beta is actually 0.6? (Round your answer to the nearest cent. Enter your answer as positive value.)

  Employment and the medicare net investment income taxes

Guy Man: president, secretary, treasurer, director, and sole shareholder. Manages all aspects of operations. Only person with a broker's license. Works 12 hour days with few off days. Salary set at $24,000 per year for managing company. As an expert ..

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