Suppose that on January 1 you have a balance of $6,000 on the following credit cards, which you want to pay off in the given amount of time. Assume that you make no additional charges to the card after January 1. The credit card APR is 24%, and you want to pay off the balance in 1 year. $ Round to the nearest cent The credit card APR is 25%, and you want to pay off the balance in 2 years. $ Round to the nearest cent The credit card APR is 26 % , and you want to pay off the balance in 3 years. $ Round to the nearest cent
Suppose that on January 1 you have a balance of $6,000 on the following credit cards, which you want to pay off in the given amount of time. Assume that you make no additional charges to the card after January 1. The credit card APR is 24%, and you want to pay off the balance in 1 year. $ Round to the nearest cent The credit card APR is 25%, and you want to pay off the balance in 2 years. $ Round to the nearest cent The credit card APR is 26 % , and you want to pay off the balance in 3 years. $ Round to the nearest cent
Chapter11: Capital Budgeting Decisions
Section: Chapter Questions
Problem 8EA: You put $250 in the bank for S years at 12%. A. If interest is added at the end of the year, how...
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