Credit card debt high interest rates make it difficult for, Finance Basics

+44 141 628 6080
[email protected]

Credit card debt high interest rates make it difficult for

Question: Credit card debt High interest rates make it difficult for people to pay off credit card debt in a reasonable period of time. The interest I (in dollars) paid on a $10,000 debt over 3 years when the interest rate is r% can be approximated by the equation

(I/175.393) + 0.663 = r

(Source: Consumer Federation of America). If the credit card interest rate is 19.8%, find the amount of interest paid during the 3 years.

View Complete Question

Request for Solution File

Ask an Expert for Answer!!

Finance Basics: Credit card debt high interest rates make it difficult for

Reference No:- TGS02570875

Expected delivery within 24 Hours

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Finance Basics

Q : The firm expects to have 120000 in indirect costs and 80000

foorah company is a consulting firm that uses a job order costing system the firm expects to have 120000 in indirect

Q : Describe the countermeasures to opsec issues in your chosen

assignment water outage scenariofor this assignment students are required to answer questions about the scenario

Q : Design changes to the present configuration and report

assignment - kinetic analysisintroductionthe principles of an industry standard kinetic simulation package have been

Q : Grey inc sells a single product for 20 variable costs are 8

grey inc sells a single product for 20 variable costs are 8 per ugreens break-even sales would nit and fixed costs

Q : Credit card debt high interest rates make it difficult for

question credit card debt high interest rates make it difficult for people to pay off credit card debt in a reasonable

Q : The transferred-in cost in the beginning inventory was

the mixing department is the third department in the mzs inc during january there are 4000 units of beginning inventory

Q : Define breakeven point why is it important for a company to

question - define breakeven point why is it important for a company to track the breakeven point in both units and

Q : Ethics of spying on competitors when complete select one

1 complete the assurance of learning exercise of your text ldquoethics of spying on competitorsrdquo when complete

Q : There is a devastating natural disaster hurricane or

there is a devastating natural disaster hurricane or earthquake that has ruined your facilities and completely

1923554

Questions
Asked

3,689

Active Tutors

1424803

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

Discuss patient with athsma about use of bronchodilators

You're instructing a patient with athsma about the use of bronchodilators. You should teach the patient which one?

Discuss new forms of advertising changing opdps work

How have social media and other new forms of advertising changing OPDP's work?

Observing and reporting a correctional clients behavior

Observing and reporting a correctional client's behavior is extremely important, to ensure they receive the right mental health care.

Discussion about improve patient satisfaction scores

You are trying to improve patient satisfaction scores in your hospital's emergency department. You decide to poll 40 patients a day for three weeks.

Problem concerning about the risk for stroke

Sam is concerned about his risk for his stroke since his dad died of stroke at age 57 based on the following information why would you recommend

Patient presented with acute-onset abdominal pain

You are on your 5th straight duty in the Urgent Care and you are seeing a 18 yo may who presented with acute-onset abdominal pain for 2 days.

Discuss - male with a history of moderate persistent asthma

A nurse is caring for an 8-year-old male with a history of moderate persistent asthma. He is accompanied by his mom and dad who reported