You have a credit card that has a balance of $8930 at an APR of 16.49%. You plan to pay $400 each month in an effort to clear the debt quickly. How many months will it take you to pay off the balance?

The balance of my MasterCard is $4315.67 with an APR of 27.8%. I make the minimum payment of $175 a month. How long will it take to pay off my MasterCard and how much interest will I pay?

You deposit $700 each month into an account earning 3% interest compounded monthly. a) How many months will you need to make deposits to reach a value of $40000 ? $ b) How much total money will you put into the account? $ c) How much total interest will you earn?

your credit card has a balance of $4,500 and an annual interest rate of 16%. you decide to pay off the balance over 3 years. if there are no further purchases charged to the card, a.- how much must you pay each month? b.-what is the total interest paid over 3 years?

You currently have a balance of $9,000 and you pay an interest rate of 17% per year on the card.  Your minimum payment is 3% of the statement balance.  If you pay the minimum balance for 10 months, what will be your new balance?

You can afford monthly deposits of $170 into an account that pays 3.0% compounded monthly. How long will it be until you have $9,200 to buy a boat? Type the number of months: (Round to the next-higher month if not exact.)

Assume you have a credit card that has a 24% APR and you have an average daily balance of $1,500.00. Assume there are 12 equal monthly billing cycles on the credit card. Respond to the following two (2) questions: (a) what is the approximate finance charge that you would owe for one month, assuming you did not repay any principal? (b) What is the approximate finance charge that you would owe for one year, assuming you did not repay any principal?

You have just purchased a car and taken out a $50,000 loan. The loan has a five-year term with monthly payments and an APR of 6.0%. a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) b. How much will you pay in interest, and how much will you pay in principal, during the fourth year (i.e., between three and four years from now)? (Note: Be careful not to round any intermediate steps less than six decimal places.) a. How much will you pay in interest, and how much will you pay in principal, during the first month, second month, and first year? (Hint: Compute the loan balance after one month, two months, and one year.) During the first month, you will pay $ in principal. (Round to the nearest cent.)

2. Say you purchase a computer for $1300 at 7% interest and want to have it paid off in 48 months. Use the simple interest formula. a) Calculate the monthly payment necessary to pay off the principal and the interest.   b) Calculate the APR. Write out the formula first to show your work.

You have a $22,000 credit card balance with an APR of 16.9%, compounded monthly, and you can afford to pay $400 per month to pay down your credit card. How long in months would it take you to pay off this balance?