Question: Please help answer all parts Recently, you made multiple large purchases on your credit card totaling $17,875. The interest rate on your credit card is

Recently, you made multiple large purchases on your credit card totaling $17,875. The interest rate on your credit card is 17.39 per year, compounded monthly, and your statement says your minimum payment is $370 per month, 2. How many minimum payments will you need to make to pay off your purchases, assuming you cut up your credit card and do not make any additional purchases? You will need minimum payments. b. How much total interest will you pay by making the minimum monthly payment! Total interest You purchase a plot of land worth $67,000 to create a community garden, by securing a 15-year loan charging 7.81% APR. compounded monthly, and requiring monthly payments of 8435. Round all answers to the nearese dollar. 2. Assuming that you put some money down, what was your original loan amount? Original Loan Amount: b. What is the outstanding balance on your loan after making 5 years of payments? Outstanding Balance After You How much quicy do you have in the garden after 5 years Alter 5 Year
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
