Like many college students, Tanya applied for and got a credit card that has an annual percentage rate (APR) of 12%. The first thing she did was buy a new DVD player for $400. At the end of the month, her credit card statement said she only needed to make a minimum monthly payment of $15. Assume Tanya makes her payment when she sees her statement at the end of each month. If Tanya doesn't charge anything else and only makes the minimum monthly payments, approximately how many months would it take her to completely pay off the DVD player? Assume that the credit card company compounds interest at the end of each month.
Answers (1)
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “Like many college students, Tanya applied for and got a credit card that has an annual percentage rate (APR) of 12%. The first thing she ...” 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
Which of the following is NOT an advantage of owning a car? A) Yours to keep and sell when you wish B) Smaller down and monthly payments than leasing a car. C) Flexibility to be able to customize it D) Drive unlimited number of miles
Answers (2)
Suppose the yield on short-term government securities (perceived to be risk-free) is about 4%. Suppose also that the expected return required by the market for a portfolio with a beta of 1 is 12%.
Answers (1)
Jessica experienced an increase in her income by 10% this year. In the same year, Jessica's quantity demanded of milk increased by 10% and her quantity demanded for bread increased by 5%.
Answers (1)
Which of the following is not a major determinant of the price elasticity of demand? A. availability of close substitutes B. proportion of income spent on the good C. amount of time that has elapsed since the price change D.
Answers (1)
Kim was reviewing the water bills of a dog daycare. She determined that its highest and lowest bills of $3600 and $2800 were incurred in the months of May and November, respectively.
Answers (1)
New Questions in Business
A = The amount of tangible assets contributed by the new partner into the partnership B = The amount of capital credited to the new partner C = Total Capital of the partnership before the admission of a new partner D =
Answers (1)
Purchased 18-month insurance policy for cash. Prepaid Insurance 2. Paid weekly payroll. 3. Purchased supplies on account. 4.
Answers (1)
Shanna, a calendar year and cash basis taxpayer, rents property from Janice. As part of the rental agreement, Shanna pays $8,400 rent on April 1, 2018, for the 12 months ending March 31, 2019. a.
Answers (1)
True or false? a. the total public debt is more relevant to an economy than the public debt as a percentage of gdp. b. an internally held public debt is like a debt of the left hand owed to the right hand. c.
Answers (1)
Which statement about stakeholders is BEST? 1. Stakeholders are external to a company. 2. Stakeholders can potentially impact project development. 3. Stakeholders wield considerable power. 4.
Answers (1)