You purchase a dishwasher for $1261.60 plus 7% sales tax. The appliance store offers an installment loan that allows you to pay for the dishwasher by making 12 equal monthly payments of $123.74 What is the cost of credit, in dollars, for this loan? Round your answer to the nearest cent

You currently have a credit card with a balance of $450. If you have a credit limit of $2,000, what is your credit utilization rate?Round to the nearest percent.

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No Plagirism Please! Note: Enter your answer and show all the steps that you use to solve this problem in the space provided You have a credit card with a balance of $1,367 90 at a 95% APR. You pay $400.00 each month on the due date until the card is paid off. How many months does it take to pay off the card, and what is the total amount paid including interest? Be sure to include in your response the answer to the original question the mathematical steps for solving the problem demonstrating mathematical reasoning

When you use a credit​ card, the credit card company charges a fee to the​ merchant, which ranges from 3​% to 5​%, on your purchase. Suppose you bought a​ high-definition TV for $310 and asked if the seller would give you a discount for paying cash. What might be a reasonable​ discount? A reasonable discount would be in the range of $__ to $__

A borrower has two alternatives for a loan: (1) issue a $420,000, 30-day, 6% note or (2) issue a $420,000, 30-day note that the creditor discounts at 6%. Assume a 360-day year. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Calculate the amount of the interest expense for each option. Round your answer to the nearest dollar. $  fill in the blank 2 for each alternative. Determine the proceeds received by the borrower in each alternative. Round your answers to the nearest dollar. (1) $420,000, 30-day, 6% interest-bearing note: $  fill in the blank 3 (2) $420,000, 30-day note discounted at 6%: $  fill in the blank 4 Alternative 1  is more favorable to the borrower because the borrower receives more cash .

Match the following credit terms with the correct description. APR [Choose ] [Choose ] Known as the Annual Percentage Rate. Some credit cards charge these. They can be charged for membership and you may be required to pay them once a year. Credit cards that offer these give you cash or points for purchases you make. Occurs when you don't pay your monthly payment on time. These occur when you transfer your balance to a different card. When you move an existing balance to another credit card or account. The least amount of money you are obligated to pay back on a monthly basis to avoid fees and penalties. [Choose ] [Choose ] [Choose ] [Choose ] Fees Rewards Finance Charges Late fees Balance Transfer Minimum payment

• Suppose that on January 1, you have a credit card balance of $600.00. On January 10, you purchase a new Netflix subscription for $21.00. On January 12, you return an item to Bath & Body Works for a credit of $22.50. On January 22, you make a payment of $350.00 On January 25, you make a purchase at Walmart of $87.00. The annual interest rate on your credit card is 0.21. Calculate the finance charge for January that will appear on the next month's statement, using the average daily balance method. Round your answer to the nearest cent. January finance charge.

A machine shop has a credit card that offers rebates on purchases. At the end of May, the company had a credit card bil of $18,471.32. If the company must make a minmum payment that is the greater of $500 or 4.5% of the credit card bill, what is the minimum monthly payment for May? (Round your answer to the nearest cent.) Submt Answer View Previous Question Question 3 of 9 View Next Question

For the car loan described, give the following information. A car dealer will sell you a used car for $6,698 with $798 down and payments of $161.51 per month for 48 months. (a) amount to be paid $ (b) amount of interest $ (c) interest rate (Round your answer to two decimal places.) (d) APR (rounded to the nearest tenth of a percent) % Need Help? Read It