Thom owes $8,600 on his credit card. The credit card carries an APR of 19.1 percent compounded monthly. If Thom makes monthly payments of $260 per month, how long will it take for him to pay off the credit card assuming that he makes no additional charges? Multiple Choice 33.08 months 47.34 months 11.39 months 50.98 months 44.18 months
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Thom owes $8,600 on his credit card. The credit card carries an APR of 19.1 percent compounded monthly. If Thom makes monthly payments of ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers
You Might be Interested in
A city government imposes a proportional income tax on all people who earn income within its city limits. In 2004, the city's income tax rate was 0.04 (4 percent), and it collected $20.00 million in income taxes.
Answers (1)
Assume that the money demand function is (M / P) d = 2,200 - 200r, where r is the interest rate in percent. If the price level is fixed at P=2, and the Fed wants to fix the interest rate at 7 percent, it should set the money supply at:
Answers (1)
Jerry was recently offered a position with a major accounting firm. The firm offered Jerry either a signing bonus of $23,000 payable on the first day of work or a signing bonus of $26,000 payable after one year of employment.
Answers (1)
Steven is considering taking a job with a company that is offering gym memberships, flexible hours, repayment of education loans, merchandise discounts, and childcare. these components of the job offer are called:
Answers (1)
A setting of plainsong with two to four notes per syllable is called:
Answers (1)
New Questions in Business
Home Smart Inc. is a chain of supermarkets that sells its products at higher prices than its competitors. Yet, the supermarket chain has a large customer base due to its wide product portfolio and superior customer service.
Answers (1)
Why are the three economic questions important in econ?
Answers (1)
New School Inc. expects an EBIT of $7,000 every year forever. The firm currently has no debt, and its cost of equity is 15 percent. The firm can borrow at 8 percent and the corporate tax rate is 34 percent.
Answers (1)
After Sunshine Systems merged with RTD Enterprises, company executives noticed that due to increased employee collaboration between the two units, costs were down and revenues increased within both areas.
Answers (1)
Corporations have more ways to raise to pay for productive resources than small firms or not-for-profit organizations.
Answers (1)