You have a balance of $1000 on your Visa credit card. Assume that you make no more charges on the card and that the card charges 9.9% APR (Annual Percentage Rate) and requires a minimum payment of 3% of the balance. Also, assume that you make only the minimum payments. The balance after 24 monthly payments is $[answer]. (Round your answer to two decimal places.) Use this Formula: Balance after t minimum payment = Initial Balance [(1+-(1-m)], where m = minimum payment of x% using decimal.

What is forward points?

Is there a way you can provide an example for number 3?

Suppose you inherit $100,000 at age 25 and immediately invested in a growth fund who’s annual rate of return average is 13%. Five years later, you transfer all proceeds from the scrubs fun into a long-term IRA that pays an average annual rate of 8%. Immediately you start making additional contributions of $7000 per year to the same IRA. Assuming continuous interest, steady interest rates, and a perfect record of making annualcontributions, how much is this IRA worth when you reach the age of 65? The formula that will need to be used is A = P e^r*t + D/r (e^r*t - 1). Hint: use the continuous interest formula to find the accumulated amount for the first five years, which is then the annual investment, P, into the IRA.