Anna does not use her credit card for anything else and she pays off the $100 cash advance plus in six months by making payments of $19.83. Her credit card company charges 18% APR. Create an amortization schedule for her six payments. How much will Anna end up paying in interest and fees for her $100 cash in advance?
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- Phoebe realizes that she has charged too much on her credit card and has racked up $5,400 in debt. If she can pay $200 each month and the card charges 18 percent APR (compounded monthly), how long will it take her to pay off the debt?Interest Earned. On June 1, Mia deposited $5,600 in an MMDA that pays 3% interest. On October 31, Mia invested $1,200 in a three-month CD that pays 4%. At the end of the year, how much interest will Mia have earned, assuming she hasn't taken anything out of the money market deposit account? Assuming she hasn't taken anything out of the money market deposit account, the amount of interest Mia will have earned is (Round to the nearest cent.).Sam takes out a bank loan for $12750 that he will repay with 13 monthly payments at j1 = 5.25%. Sam has some financial troubles come up and is unable to pay the 7th and 8th payments. The bank allows Sam to skip these payments and then immediately after the 8th payment the loan is refinanced at j1 = 6.75%. What is the new monthly payment?
- On June 1, Mia deposited $3,800 in an MMDA that pays 4% interest. On October 31, Mia invested $2,700 in a three-month CD that pays 6%. At the end of the year, how much interest will Mia have earned, assuming she hasn't taken anything out of the money market deposit account? Assuming she hasn't taken anything out of the money market deposit account, the amount of interest Mia will have earned is? (Round to the nearest cent)Interest Earned. On June 1, Mia deposited $5,500 in an MMDA that pays 3% interest. On October 31, Mia invested $1,400 in a three-month CD that pays 2.99%. At the end of the year, how much interest will Mia have earned, assuming she hasn't taken anything out of the money market deposit account? Assuming she hasn't taken anything out of the money market deposit account, the amount of interest Mia will have earned is $___________Alien Jackson has $2,000 on her credit card which charges a 23% interest rate. If she wants to pay off the credit card in 4 years, how much will she need to pay each month (assuming she don't charge anything new to the card)?
- Michael has a credit card debt of $70,000 that has a14% APR, compounded monthly. The minimum monthly payment only requires him to pay the interest on his debt. He receives an offer for a credit card with an APR of 6% compounded monthly. If he rolls over his debt onto this card and makes the same monthly payment as before, how long will it take him to pay off his credit card debt?Jessica charges $8500 to a credit card with a 15.54% interest rate. (a) If Jessica makes a payment of $185.56 each month, how many payments will it take to retire the balance? (b) If Jessica doubles the payment to $371.12, how many payments will it take to retire the balance? (c) If Jessica pays $371.12 each month instead of $185.56, how much will she save in interest charges? (a) It will take payments to pay off the debt. (Round up to the nearest integer as needed.)) Signe owes $19,561 on her credit card. Calculate the monthly payment if the credit card APR is 18% and Signe pays it off in three years. Assume no additional charges are made to the card. LSS-Comp SP LSS-Cont O O LP
- Alice has a balance of $19.000 on her credit card. The card carries a 22.00% annual rate of interest. The bank requires a minimum payment of 4.00% of the outstanding balance, but no less than $50.00 each month. If Alice wants to pay off the balance in 9 years, how much EXTRA must she pay every month in addition to the required minimum payment? Round your answer to the NEAREST dollar. Do NOT use a dollar sign.Steve has maxed out his credit card and owes $22,000. The annual interest on his credit card is 18.25%. a. The minimum payment for some credit cards is 2% of what you owe. What is Steve’s minimum payment? b. Suppose Steve continues to pay the amount found in part a, how long until he has paid off her credit card dept? Assume he doesn’t charge anything else. c. What is the total amount he spent to cover the $22,000 debt? d. Suppose Steve decides to pay $750 per month, how long until he pays off the credit card? e. How much does she save by paying $750 a month? f. Suppose Steve is getting married in 25 months, what should he pay every month to clear hiscredit card debt by the time he is married?Everlyne has a personal LOC with her bank with a maximum credit limit of $11,000.00. The interest rate is prime plus 1.25%, and the current prime rate is 3.5%. Regardless of any account transaction activity, her bank requires on the first of every month for her to pay "the greater of 5% of the current balance or $100" from her checking account. She is allowed to exceed her maximum credit limit, but if she does the entire balance is subject to 22% interest until such time as the balance is restored below the credit limit. On October 1, the opening balance on her LOC was $2,300.00 She took advances of $4,900.00, $4,400.00, and $3,700.00 on October 17, November 16, and December 1, respectively. She made payments of $4,200.00, $4,900.00, and $3,900.00 on November 1, November 21, and December 18, respectively. The prime rate decreased by 0.5% on November 9. Complete the repayment schedule below by filling in the interest charges for October, November, and December Date Balance before…