American Express and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 7.00%, with interest paid monthly, what is the card's EFF%?

Master Card and other credit card issuers must by law print the Annual Percentage Rate (APR) on their monthly statements. If the APR is stated to be 19.00%, with interest paid monthly, what is the card's EFF%? a.18.58% b. 19.52% с. 20.75% d. 21.94% e. 22.65%

H5.

Akbar Associates issued 120-day note for $50,000 to a creditor on a account. The note was discounted at 6%. Assuming a 360-day year: a. What cash proceeds would Akbar receive from the note? b. How much would Akbar repay the creditor at the note's maturity? =

Master Card and other credit card issuers must by law print the Annual Percentage Rate on their monthly statements. If the APR is stated to be 18.00% with interest paid monthly, what is the card's EAR?

Company X sells on a 2/15, net 60, basis. Company Y buys goods with an invoice of $4,500.   a. How much can company Y deduct from the bill if it pays on day 15? (Do not round intermediate calculations.)       b. How many extra days of credit can company Y receive if it passes up the cash discount?       c. What is the effective annual rate of interest if Y pays on the due date rather than day 15? (Use 365 days in a year. Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.)

Calculate the missing information on the revolving credit account. Interest is calculated on the unpaid or previous month's balance. (Round dollars to the nearest cent.) Monthly Annual Finance Purchases Payments and New Previous Periodic Percentage Rate (APR) Charge (in $) and Cash Balance Balance Rate Advances Credits (in $) (as a %) $1,027.61 % 1% $322.20 $400.00

10)

Vinubhai

Using the daily balance method of calculating interest, how much interest will you owe on a $500 credit card bill that is 3 weeks overdue at interest rate at 20%?