Your christmas ski vacation was great but it unfortunately, Ask an Expert

Economics

Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your $13,200 balance from your current credit card, which charges an annual rate of 21 percent, to a new credit card charging a rate of 11.6 percent.

How much faster could you pay the loan off by making your planned monthly payments of $285 with the new card? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Number of months______

What if there was a 2 percent fee charged on any balances transferred? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Number of months______

View complete question

Business Economics, Economics

Category:- Business Economics
Reference No.:- M91725447

Have any Question?Write your Review or question?

Related Questions in Business Economics

How does health insurance coverage affect the incentive to

How does health insurance coverage affect the incentive to reduce medical expenses? For the insured person? For the provider of services? What happens to the incentive to hold down medical expenses once the initial insur ...

Imposing a tariff leads to the existence of two deadweight

Imposing a tariff leads to the existence of two deadweight triangles, which are the Consumption distortion and Production distortion losses. It is easy to understand why consumption distortion constitutes a loss for soci ...

What type of exchange rate is associated with a higher

What type of exchange rate is associated with a higher probability of experiencing a crisis? Why?

Sixty percent of households say they would feel secure if

Sixty percent of households say they would feel secure if they had? $50,000 in savings. You randomly select 8households and ask them if they would feel secure if they had? $50,000 in savings. Find the probability that th ...

1 explain the reason for measuring government production at

1. Explain the reason for measuring government production at cost? 2. What is the main shortcoming in valuing government production in this way?

A survey of us adults found that 69 of those who text on

A survey of U.S. adults found that 69% of those who text on cell phones receive spam or unwanted messages. You randomly select 100 U.S. adults who text on cell phones. A) Determine whether you can use a normal distributi ...

Calculatenbspandnbspanalyzenbspthe following ratios for

Calculate and analyze the following ratios for your selected company for the last two years from the SEC Form 10-K: Inventory Turnover Time Interest Earned

A sample of 36 us households is taken and the average

A sample of 36 U.S. households is taken and the average amount of newspaper garbage or recycling is found to be 27.8 pounds with a standard deviation of 2 pounds. Estimate, with 99% confidence, the mean amount of newspap ...

Suppose that serendipity bank has excess reserves of 12000

Suppose that Serendipity Bank has excess reserves of $12,000 and check able deposits of $150,000. If the reserve ratio is 20 percent, what is the size of the bank's actual reserves?

Inc 409661 2796 pop INC = 40966.1 + 2.796 POP' sample size = 400

INC = 40966.1 + 2.796 POP' sample size = 400 (se) (545.8) (.2796); R 2 = .2468 1. Where INC is the income in millions of dollars and POP the population in millions of people. Provide an ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Business Economics Expert