Provide a calculation that show: How much interest M&M will pay per year to the credit card
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Question:
Provide a calculation that show:
How much interest M&M will pay per year to the credit card company if they always have $1000 balance that makes them pay 18% interest rate compound daily? (5 marks)
Assume based on the cash flow statement, the full amount of $1390 is sitting in a saving account that earns 5% compound annually, how much will be the interest earning?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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