Marks credit card has a $5,000 balance. The interest rate is 19%. The credit card company requires

Fantastic news! We've Found the answer you've been seeking!

Question:

Marks credit card has a $5,000 balance. The interest rate is 19%. The credit card company requires a$100 monthly payment. How long will it take to have a $0 balance?

Related Book For answer-question

Linear Algebra And Its Applications

ISBN: 9781292351216

6th Global Edition

Authors: David Lay, Steven Lay, Judi McDonald

See More Books

Posted Date: Jun 30, 2023 08:27 AM

See More Questions

what is the criteria for bipolar disorder ?
Prove that is differentiable on R2 for all a f(x, y) = Itx2+y2)" (x, y)(0.0) 0
You have found three investment options for a one-year deposit: 10% compound APR monthly, 11% compound APR annually, and 9% compound APR daily. Calculate the EAR for each investment option. (Suppose...
From the work sheet, prepare the following: 1. Closing entries for Gimbel's Gifts and Gadgets in a general journal. 2. A post-closing trialbalance. Gimbel's Gifts and Gadgets Work Sheet For Year...
What are the two distinct elements of owners equity in a corporation? Define each element.
Carry out each of the following conversions. (a) 25.5 m to km, (b) 36.3 km to m, (c) 487 kg to g, (d) 1.32 L to mL, (e) 55.9 dL to L, (f) 6251 L to cm 3
Dr. Walter Sullivan was one of several plastic surgeons in Las Vegas visited by Julie Jones. Jones, an exotic dancer, sought plastic surgery to improve her ability to make money in her profession....
You are the manager of a paper mill and have been subpoenaed to appear before a joint session of the Senate Consumer Affairs and the Senate Environmental subcommittees. The Consumer Affairs...
What can be learned about the evolution of healthcare in the United States? How do you feel the problem of access and cost to healthcare could/should be solved? What changes do you believe would be...
The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: (a) The gross margin in 25% of sales (b) Actual and budgeted sales data: (c) Sales are 60%...
Why do some justices refuse to recognize a constitutional right to privacy?
What is industry commoditization? What are two strategies a firm may undertake to combat industry commoditization?
What is strategy implementation?
What are dynamic capabilities? How do they differ from general capabilities?
What is the relationship between economies of scale and minimum efficient scale?
How can rewards affect strategy?
Imagine that it's the first week of the new school year and that your child Peter has just begun kindergarten in a public school with a good reputation in your suburban community. Although most of...
How does the organizational structure of an MNC influence its strategy implementation?
Let B = {b 1 , b 2 , b 3 } be a basis for a vector space V. Find T(2b 1 - 5b 3 ) when T is a linear transformation from V to V whose matrix relative to B is [T]B = 1 0-4 2 0 2 -3 3
Let Find the images under T of 2 A = [ 2] 0 , and define T R2 R by T(x) = Ax.
Construct a nonzero 3 x 3 matrix A and a vector b such that b is not in Col A.
Based on the photographs in Figure 26.13, in which segment(s) is the Antp gene normally expressed? Figure 26.13: (a) Normal fly (b) Antennapedia mutant
The bush baby, a small African mammal, is a remarkable jumper. Although only about 8 inches long, it can jump, from a standing start, straight up to a height of over 7 feet! Use the particle model to...
Hicham El Guerrouj of Morocco holds the world record in the 1500 m running race. He ran the final 400 m in a time of 51.9 s. What was his average speed in mph over the last 400 m? A. 14.2 mph B. 15.5...

Marks credit card has a $5,000 balance. The interest rate is 19%. The credit card company requires

Question:

Expert Answer:

We can use the formula for the number of months it takes to pay off a debt ... View the full answer

Linear Algebra And Its Applications

Students also viewed these mathematics questions