What will be Monty's minimum payment due?
Monty currently has a Visa card from his bank with the following terms: 18% on purchases, 24% on cash advances with a 4% cash advance fee on the amount, and a default or penalty rate of 36%. His current statement shows a balance of $6,000. So far he has only taken one cash advance, withdrawing $1,000 from a casino in Las Vegas a year ago, which he has already paid off. Lately he has been having a hard time paying more than the minimum payment of 4% of his balance. The only assets he owns are a seven-year-old car and a $2,500 certificate of deposit that has a 5% APR.
A) $90
B) $20
C) $240
D) $1,080
E) None of the above
Answer: C
You might also like to view...
To find marital and voting record, one would need to look at the records maintained by:
a. county sheriff and other officers b. Social Security Administration c. county clerk d. local courts
Which of the following is included in the business case document for a new product?
A. a complete definition of the product B. the technical capabilities required for manufacturing the product C. the advertising capabilities required to increase awareness of the product D. the packaging needed for the product
To ensure success for the company and the small businesses which whom it works with,who did the Eshop Africa feel it was important to partner with
a. Local community leaders b. NGOs and governmental agencies c. Other business leaders d. International legislative bodies
You are just graduating from college and have little employment experience, yet you want to put together a persuasive résumé. What would be the best résumé style to use?
A) Chronological résumé B) Video résumé C) Functional résumé D) Infographic résumé