Question
In: Advanced Math
Look online to find an interest rates for each of the following: a) Credit Card What...
Look online to find an interest rates for each of the following:
a) Credit Card
What is the rate charged for overdue monthly balances? Clearly state your answer.
b) Car Company (for financing a new car)
Include your sources (links) AND a screencapture of where on the page you found the information.
Solutions
Expert Solution
a) Credit card interest rates depend on the banks' policy and is also affected by other factors such as amount owed, length of credit history etc. The monthly rate varies between 2 to 3.5 %p.m. Here is a screenshot of few banks' credit interest rate.
Source: paisabazzar.com
b) The banks have certain eligibility criteria for financing cars such as minimum age of client, annual salary. They also ask for identity proof and residential proof, The car loan interest rate can 9-10% p.a. Here is a list:
Source: paisabazzar.com
Colby Messinger answered 2 years agoRelated Solutions
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Required:
Banks, credit card companies, and other lenders, state interest
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Because of the relatively high interest rates, most consumers attempt to pay off their credit card...
Because of the relatively high interest rates, most consumers
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is not always possible. An analysis of the amount of interest paid
monthly by a bank's Visa cardholders reveals that the amount is
normally distributed with a mean of 30 dollars and a standard
deviation of 9 dollars.
A. What proportion of the bank's Visa cardholders pay more than
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B. What proportion of the bank's Visa...
Because of the relatively high interest rates, most consumers attempt to pay off their credit card...
Because of the relatively high interest rates, most consumers
attempt to pay off their credit card bills promptly. However, this
is not always possible. An analysis of the amount of interest paid
monthly by a bank's Visa cardholders reveals that the amount is
normally distributed with a mean of 28 dollars and a standard
deviation of 9 dollars.
A. What proportion of the bank's Visa cardholders pay more than
30 dollars in interest?
Proportion =
B. What proportion of the...
Because of the relatively high interest rates, most consumers attempt to pay off their credit card...
Because of the relatively high interest rates, most consumers
attempt to pay off their credit card bills promptly. However, this
is not always possible. An analysis of the amount of interest paid
monthly by a bank's Visa cardholders reveals that the amount is
normally distributed with a mean of 26 dollars and a standard
deviation of 8 dollars.
A. What proportion of the bank's Visa cardholders pay more than
29 dollars in interest?
Proportion =
B. What proportion of the...
Because of the relatively high interest rates, most consumers attempt to pay off their credit card...
Because of the relatively high interest rates, most consumers
attempt to pay off their credit card bills promptly. However, this
is not always possible. An analysis of the amount of interest paid
monthly by a bank's Visa cardholders reveals that the amount is
normally distributed with a mean of 30 dollars and a standard
deviation of 7 dollars. A. What proportion of the bank's Visa
cardholders pay more than 33 dollars in interest? Proportion = B.
What proportion of the...
Because of the relatively high interest rates, most consumers attempt to pay off their credit card...
Because of the relatively high interest rates, most consumers
attempt to pay off their credit card bills promptly. However, this
is not always possible. An analysis of the amount of interest paid
monthly by a bank's Visa cardholders reveals that the amount is
normally distributed with a mean of 26 dollars and a standard
deviation of 8 dollars.
A. What proportion of the bank's Visa cardholders pay more than
28 dollars in interest?
B. What proportion of the bank's Visa...
Because of the relatively high interest rates, most consumers attempt to pay off their credit card...
Because of the relatively high interest rates, most consumers
attempt to pay off their credit card bills promptly. However, this
is not always possible. An analysis of the amount of interest paid
monthly by a bank’s Visa cardholders reveals that the amount is
normally distributed with a mean of $27 and a standard deviation of
$7.
(a) What proportion of the bank’s Visa cardholders pay more than
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COMPAREthe two credit card offers by completing
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Credit Card Feature
Card #1
What is the name of the Credit Card?
What is the APR (annual percentage rate)? Is it fixed or
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Penalty APR and trigger events when it is charged
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Over-the-limit fee
Transaction fees (balance transfers, cash advances, etc.)
Grace period
Method for computing account balance...
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-------%
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-------%
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-------%
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