Use the table below or the monthly payment formula to calculate each monthly payment for the...
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Use the table below or the monthly payment formula to calculate each monthly payment for the given principal, APR, and time. Table of Monthly Payments per $1,000 of Principal Rate 1 yr 2 yr 3 yr 6.50% 6.75% 86.30 44.55 30.65 4 yr 23.71 5 yr 10 yr Rate 1 yr 2 yr 3 y 4 y 10 yr 19.57 11.35 10.00% 87.92 46.14 32.27 25.36 21.25 13.22 86.64 7.25% 44.89 7.50% 86.76 45.00 7.75% 86.87 45.11 8.00% 86.99 45.23 8.25% 87.10 45.34 8.50% 87 22 45.46 31.57 19.68 23.83 86.41 44.66 19.80 23.95 7.00% 86.53 44.77 30.88 24.06 30.99 24.18 31.11 24,30 31.22 30.76 11.48 10.25% 88.03 46.26 32.38 25.48 21.37 13.35 11.61 10.50% 88.15 46.38 32.50 25.60 21.49 13.49 24.41 31.34 31.45 19.92 11.74 20.04 11.87 12.00 20.16 12.13 20.28 10.75% 88.27 46.49 32.62 25.72 21.62 13.63 11.00% 88.38 46.61 32.74 25.85 21.74 13.78 11.25% 88.50 46.72 32.86 25.97 21.87 13.92 11.50% 88.62 46.84 32.98 26.09 21.99 14.06 20.40 24.53 12.27 11.75% 88.73 46.96 33.10 26.21 22.12 14.20 24.65 20.52 12.40 12.00% 88.85 47.07 33.21 26.33 22.24 14.35 8.75% 87.34 45.57 24.77 31.68 20.64 12.53 12.25% 88.97 47.19 33.33 26.46 22.37 14.49 9.00% 87.45 45.68 31.80 24.89 20.76 12.67 12.50% 89.08 47.31 33.45 26.58 22.50 14.64 9.25% 87.57 31.92 45.80 25.00 20.88 12.80 12.75% 89.20 47.42 33.57 26.70 22.63 14.78 9.50% 9.75% 87.80 87.68 45.91 32.03 46.03 32.15 25.12 21.00 12.94 13.00% 89.32 47.54 33.69 26.83 22.75 14.93 25.24 21.12 13.08 13.25% 89.43 47.66 33.81 22.88 26.95 15.08 7. $8,000; 9.25%; 5 years 8. $10,000; 13%; 10 years 9. $9,700; 11%; 4 years 10. You had these daily balances on your credit card for your last billing period You must pay a finance charge due to not fully paying off the card last month. The APR is 18.2%. 11 days @ $282.55 4 days @ $532.99 7 days @ $825.54 3 days @ $767.31 5 days @ $1,453.37 a.) What is the average daily balance? b.) What is the finance charge? Use the table below or the monthly payment formula to calculate each monthly payment for the given principal, APR, and time. Table of Monthly Payments per $1,000 of Principal Rate 1 yr 2 yr 3 yr 6.50% 6.75% 86.30 44.55 30.65 4 yr 23.71 5 yr 10 yr Rate 1 yr 2 yr 3 y 4 y 10 yr 19.57 11.35 10.00% 87.92 46.14 32.27 25.36 21.25 13.22 86.64 7.25% 44.89 7.50% 86.76 45.00 7.75% 86.87 45.11 8.00% 86.99 45.23 8.25% 87.10 45.34 8.50% 87 22 45.46 31.57 19.68 23.83 86.41 44.66 19.80 23.95 7.00% 86.53 44.77 30.88 24.06 30.99 24.18 31.11 24,30 31.22 30.76 11.48 10.25% 88.03 46.26 32.38 25.48 21.37 13.35 11.61 10.50% 88.15 46.38 32.50 25.60 21.49 13.49 24.41 31.34 31.45 19.92 11.74 20.04 11.87 12.00 20.16 12.13 20.28 10.75% 88.27 46.49 32.62 25.72 21.62 13.63 11.00% 88.38 46.61 32.74 25.85 21.74 13.78 11.25% 88.50 46.72 32.86 25.97 21.87 13.92 11.50% 88.62 46.84 32.98 26.09 21.99 14.06 20.40 24.53 12.27 11.75% 88.73 46.96 33.10 26.21 22.12 14.20 24.65 20.52 12.40 12.00% 88.85 47.07 33.21 26.33 22.24 14.35 8.75% 87.34 45.57 24.77 31.68 20.64 12.53 12.25% 88.97 47.19 33.33 26.46 22.37 14.49 9.00% 87.45 45.68 31.80 24.89 20.76 12.67 12.50% 89.08 47.31 33.45 26.58 22.50 14.64 9.25% 87.57 31.92 45.80 25.00 20.88 12.80 12.75% 89.20 47.42 33.57 26.70 22.63 14.78 9.50% 9.75% 87.80 87.68 45.91 32.03 46.03 32.15 25.12 21.00 12.94 13.00% 89.32 47.54 33.69 26.83 22.75 14.93 25.24 21.12 13.08 13.25% 89.43 47.66 33.81 22.88 26.95 15.08 7. $8,000; 9.25%; 5 years 8. $10,000; 13%; 10 years 9. $9,700; 11%; 4 years 10. You had these daily balances on your credit card for your last billing period You must pay a finance charge due to not fully paying off the card last month. The APR is 18.2%. 11 days @ $282.55 4 days @ $532.99 7 days @ $825.54 3 days @ $767.31 5 days @ $1,453.37 a.) What is the average daily balance? b.) What is the finance charge?
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To calculate the monthly payment for a given principal APR and time we need to use the table provided However the table you provided seems to be incomplete or has formatting issues making it difficult ... View the full answer
Related Book For
College Algebra
ISBN: 978-0134697024
12th edition
Authors: Margaret L. Lial, John Hornsby, David I. Schneider, Callie Daniels
Posted Date:
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