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3 years ago

15

The minimum monthly payment for Rebecca's credit card is 2% of her balance or $15, whichever is higher. If Rebecca's balance at

the end of her last billing cycle was $748, what is her minimum monthly payment?

2 answers:

Leno4ka [110]3 years ago

6 0

$15.00 .....this sentence is just filler because $15.00 is too short.

stich3 [128]3 years ago

4 0

$15.00 - Apex answer

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Answer:

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Explanation:

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Details Amount

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2 years ago

Scott Corp. received cash of $20,000 that was included in revenues in its Year 1 financial statements, of which $12,000 will not

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Answer:

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3 years ago

You bought one of Great White Shark Repellant Co.’s 5.8 percent coupon bonds one year ago for $1,030. These bonds make annual pa

defon

Answer:

total rate of return on the Bond = 9.40%

Explanation:

given data

coupon bonds = 5.8%

bonds price = $1,030

maturity time = 14 year

required return on the bonds = 5.1 percent

solution

we know here market price of the bond is Present Value of Coupon Payments + Present face Value

so that face Valueof bond = $1,000

and here annual Coupon Amount will be

annual coupon amount = $1000 × 5.80%

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and here Market Price of the Bond will be

Market Price of Bond = Present Value of Coupon Payments + Present face Value ......................1

here Present Value of Coupon Payments at PVIFA 5.10% and 14 Years

Present Value Annuity Inflow Factor (PVIFA) = $\frac{1-(1/(1+r)^t}{r}$ ....2

Present Value Annuity Inflow Factor = $\frac{1-(1/(1+0.0510)^14}{0.0510}$

Present Value Annuity Inflow Factor = 9.83566

and

Present Value Inflow Factor (PVIF) 5.10%, 14 Years= $\frac{1}{(1+r)^t}$ ...........3

Present Value Inflow Factor (PVIF) = $\frac{1}{(1+0.0510)^14}$

Present Value Inflow Factor = 0.49838

so

Market Price of Bond = ( $58 × 9.83566 ) + ( $1,000 × 0.49838 )

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valina [46]

I really don’t know sorry for this answer

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3 years ago