Question
In: Finance
37. Simon recently received a credit card with a 13% nominal interest rate. With the card,...
37. Simon recently received a credit card with a 13% nominal interest rate. With the card, he purchased an Apple iPhone 7 for $430.00. The minimum payment on the card is only $20 per month.
-
If Simon makes the minimum monthly payment and makes no other charges, how many months will it be before he pays off the card? Do not round intermediate calculations. Round your answer to the nearest whole number. How many month(s)? ____________
-
If Simon makes monthly payments of $60, how many months will it be before he pays off the debt? Do not round intermediate calculations. Round your answer to the nearest whole number.
How many month(s)? ______________ -
How much more in total payments will Simon make under the $20-a-month plan than under the $60-a-month plan. Do not round intermediate calculations. Round your answer to the nearest cent. $__________
Solutions
jeff jeffy answered 1 year agoRelated Solutions
Simon recently received a credit card with an 13% nominal interest rate. With the card, he...
Simon recently received a credit card with an 13% nominal
interest rate. With the card, he purchased an Apple iPhone 5 for
$460. The minimum payment on the card is only $20 per month.
If Simon makes the minimum monthly payment and makes no other
charges, how many months will it be before he pays off the card? Do
not round intermediate calculations. Round your answer to the
nearest month.
month(s)
If Simon makes monthly payments of $60, how many...
Simon recently received a credit card with a 15% nominal interest rate. With the card, he...
Simon recently received a credit card with a 15% nominal
interest rate. With the card, he purchased an Apple iPhone 7 for
$363.75. The minimum payment on the card is only $10 per month.
If Simon makes the minimum monthly payment and makes no other
charges, how many months will it be before he pays off the card? Do
not round intermediate calculations. Round your answer to the
nearest whole number.
______month(s)
If Simon makes monthly payments of $35, how...
Simon recently received a credit card with a 20% nominal interest rate. With the card, he...
Simon recently received a credit card with a 20% nominal
interest rate. With the card, he purchased an Apple iPhone 7 for
$410.00. The minimum payment on the card is only $20 per month.
If Simon makes the minimum monthly payment and makes no other
charges, how many months will it be before he pays off the card? Do
not round intermediate calculations. Round your answer to the
nearest whole number.
? month(s)
If Simon makes monthly payments of $60,...
Simon recently received a credit card with a 12% nominal interest rate. With the card, he...
Simon recently received a credit card with a 12% nominal
interest rate. With the card, he purchased an Apple iPhone 7 for
$384.15. The minimum payment on the card is only $10 per month.
If Simon makes the minimum monthly payment and makes no other
charges, how many months will it be before he pays off the card? Do
not round intermediate calculations. Round your answer to the
nearest whole number.
If Simon makes monthly payments of $35, how many...
Simon recently received a credit card with a 12% nominal interest rate. With the card, he...
Simon recently received a credit card with a 12% nominal
interest rate. With the card, he purchased an Apple iPhone 7 for
$353.81. The minimum payment on the card is only $10 per month.
If Simon makes the minimum monthly payment and makes no other
charges, how many months will it be before he pays off the card? Do
not round intermediate calculations. Round your answer to the
nearest whole number.
month(s)
If Simon makes monthly payments of $35, how...
Simon recently received a credit card with a 21% nominal interest rate. With the card, he...
Simon recently received a credit card with a 21% nominal
interest rate. With the card, he purchased an Apple iPhone 7 for
$351.58. The minimum payment on the card is only $20 per month.
If Simon makes the minimum monthly payment and makes no other
charges, how many months will it be before he pays off the card? Do
not round intermediate calculations. Round your answer to the
nearest whole number.
month(s)
If Simon makes monthly payments of $65, how...
Simon recently received a credit card with a 20% nominal interest rate. With the card, he...
Simon recently received a credit card with a 20% nominal
interest rate. With the card, he purchased an Apple iPhone 7 for
$350.00. The minimum payment on the card is only $20 per month.
If Simon makes the minimum monthly payment and makes no other
charges, how many months will it be before he pays off the card? Do
not round intermediate calculations. Round your answer to the
nearest whole number.
month(s)
If Simon makes monthly payments of $60, how...
Simon recently received a credit card with a 14% nominal interest rate. With the card, he...
Simon recently received a credit card with a 14% nominal
interest rate. With the card, he purchased an Apple iPhone 7 for
$320.00. The minimum payment on the card is only $10 per month.
If Simon makes the minimum monthly payment and makes no other
charges, how many months will it be before he pays off the card? Do
not round intermediate calculations. Round your answer to the
nearest whole number.
...............month(s)
If Simon makes monthly payments of $30, how...
Simon recently received a credit card with a 19% nominal interest rate. With the card, he...
Simon recently received a credit card with a 19% nominal
interest rate. With the card, he purchased an Apple iPhone 7 for
$440.00. The minimum payment on the card is only $10 per month.
If Simon makes the minimum monthly payment and makes no other
charges, how many months will it be before he pays off the card? Do
not round intermediate calculations. Round your answer to the
nearest whole number.
month(s)
If Simon makes monthly payments of $30, how...
Simon recently received a credit card with an 15% nominal interest rate. With the card, he...
Simon recently received a credit card with an 15% nominal
interest rate. With the card, he purchased an Apple iPhone 5 for
$320. The minimum payment on the card is only $10 per month.
If Simon makes the minimum monthly payment and makes no other
charges, how many months will it be before he pays off the card? Do
not round intermediate calculations. Round your answer to the
nearest month.
month(s)
If Simon makes monthly payments of $30, how many...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- Cost of Production Report Hana Coffee Company roasts and packs coffee beans. The process begins by...
- C++ Task: You are to write a class called Monomial, using filenames monomial.h and monomial.cpp, that...
- Partial Pressure/Total Pressure Question Consider the equation: (CH3)2N2H2(l) + 2N2O4(l) ---> 3N2(g) + 4H2O(g) + 2CO2(g)...
- Can you show how to do this step by step using Matlab please. Write a function...
- Plaintiff died of gas asphyxiation when he entered a sewer tunnel without a mask to answer...
- Retail Co has a unique set of HR practices. Describe and evaluate how you think the...
- Discuss some of the ways artists experimented with new styles and techniques, and how these differed...
ADVERTISEMENT