Alev has a $300 balance on her credit card that she forgot about. Each month, the balance increases by 13% due to compound interest. How much will her balance be 6 months from now if she continues to forget and not make any payments? Show your work AND explain your thinking.
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- 8. If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Lizzie is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 6% APR and the following transactions? (Round your answer to the nearest cent.) 31-day billing cycle10/1 Previous balance $ 1,170 10/3 Credit $ 73 cr. 10/12 Charge: King Soopers 154 10/15 Payment 370 cr. 10/25 Charge: Delta 327 10/30 Charge: Holiday Fun 67 Amount owed $Suppose you have saved $216 each month for the last 7 years to make a down payment on a house. The account earned an interest rate of 0.53 percent per month. How much money is in your account? Enter your answer rounded off to two decimal points. Do not enter $ in the answer box. Remember to enter the final answer as a positive number.Joelle prefers to pay by credit card, but her card was declined. She B returns home to call her bank. They informed her that her credit limit using this card is $300. The credit card she has currently charges a 19.2% annual interest rate compounded monthly. The table to the right shows the balance, 8, of her account after m months. 100 119.2 142.09 169.37 4 201.89 15 240.65 286.85 Question 2A: Based on the information given, why might Joelle not have been able to use her credit card at Target? Part B: For each time period below, determine the rate of change: month 1 to month 2 month 2 to month 3 month 4 to month 6 month 3 to month 5 The time period with the greatest rate of change is: Part C: What do you notice about the average rate of change in this scenario? What does this indicate about the function we are working with? Please explain your response.
- f you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 12% APR and the following transactions? 31-day billing cycle 10/1 Previous balance $ 1,177 10/3 Credit $ 66 Credit 10/12 Charge: King Soopers $ 161 10/15 Payment $ 440 Credit 10/25 Charge: Delta $ 334 10/30 Charge: Holiday Fun $ 74 What is the amount owed?1. If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Lizzie is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 6% APR and the following transactions? (Round your answer to the nearest cent.) 31-day billing cycle 10/1 Previous balance $ 1,170 10/3 Credit $ 73 cr. 10/12 Charge: King Soopers 154 10/15 Payment 370 cr. 10/25 Charge: Delta 327 10/30 Charge: Holiday Fun 67Yusra has a term loan and after her 42nd payment she still owes $6,728.25. The annual interest rate on this loan is 4.86%. This month she is making payment 43. Her monthly payment is $323.41. How much will her "balance owed" decrease? Round your answer to the nearest penny. Input the dollar sign followed by the number. Do not put a space between the dollar sign and the number. Example: $167.89
- 10. I have $72,000 in my bank account today. The bank manager told me that I will have $100,000 money in five years if I keep the money in this account and don’t touch it (meaning that I won’t withdraw from it or don’t add more into it). The account pays me daily interest. What is the APR for my account? (Show Work)If you are trying to build credit by using a credit card, each time you make a purchase with the credit card, deduct that amount from your checking account. That way, when your credit card bill is due, you will have enough to pay the credit card off in full. Kathy Lehner is going to start doing this. She plans on paying her credit card bill in full this month. How much does she owe with a 12% APR and the following transactions? 28-day billing cycle 1-October Previous balance $ 1,168 3-October Credit $ 75.00 12-October Charge: King Soopers $ 152.00 15-October Payment $ 350.00 25-October Charge: Delta $ 325.00 30-October Charge: Holiday Fun $ 65.00 APR 12% Required: Using the information above, complete the following table and questions Number of days of current balance Current balance Extension 2 $ 1,168.00 9 3 10 5 2 What is the total extension amount? What is the average daily balance? What is the total number of days of…Starting today, Jamie deposits $100 in a savings account at the beginning of each month. If the account earns 6 percent annually, what will the account value be after 6 years? a) 8,640.89 b) $8,684.09 c) $739.38 d) $697.53 Hide question 33 feedback Correct!
- Today, you borrowed $6,200 on your credit card to purchase some furniture. The interest rate is 14.9 percent. How long will it take you to pay off this debt assuming that you do not charge anything else and make regular monthly payments of $120? Group of answer choices 6.93 years 7.23 years 6.40 years 7.31 years 5.87 years2. Janine has two choices for paying off her credit card balance. She can make payments of $186 per month for 36 months to the credit card company, or she can borrow the card balance from the bank and make payments of $162 per month to the bank for 36 months. How much money will she save if she borrows the money from the bank and pays off her credit card? F $927 G $28 H $972 $8641. Hannah deposited 1,500 in a bank with an interest rate for 1 year. What is the future of her deposit? 2. Francis needs to save up to 1,500 in 1 yeat. How much should he save now if the bank offers a rate of 5%? Find the present value. 3. Marie deposited 1,000 in her bank account. If the bank pays her 4% simple interest, how much interest will she accumulate in her account after 10 years? What if the bank pays compound interest? 4. What is the present value of the following cash flow stream if the interest is 7%? Year Cach Flow 250 350 3 500