You're prepared to make monthly payments of $360, beginning at the end of this month, into an account that pays 8 percent interest compounded monthly. How many payments will you have made when your account balance reaches $25,390?     Multiple Choice   5.01   63.8   24.6   52.2   58

11. Suppose you have a balance of $5400 on your credit card, which charges an APR of 18%. If you want to pay off the balance in 18 months, how much should you pay each month? What is the total amount of interest you will end up paying? Assume that you charge no additional expenses to the card. 5400 012

10

6: Answer both questions

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%?

You are planning to make 18 monthly withdrawals beginning at the end of the sixth month. You plan to withdraw $108 in the sixth month and increase your withdrawals by $15 over the previous month's withdrawal. How much should you deposit now in a bank account that pays 12% per year compounded monthly? Enter the answer with two decimal places. Do not enter the dollar

Q. 8

What am I doing wrong?

Question 7. You have an outstanding credit card balance of $2,000. You decide to stop making new charges and pay $375 each month until the balance is paid. If your annual interest rate is 18%, how many months will it take you to pay off your balance? Your Answer: Answer

Suppose that you deposit $555 today in an account with an APR of 10% compounded monthly. How much interest will you have earned at the end of six years? Assume a year has 365 days.               Deposit  $     555.00           APR 10%           Years 6                                       Interest