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antiseptic1488 [7]
3 years ago
7

Assume you’ve got terrific credit: What would be your likely APR for purchases or balance transfers?

Business
1 answer:
Zielflug [23.3K]3 years ago
4 0

Answer:

The APR stands for the annual percentage rate, and you can hope for a credit card with the least APR since you have good credit. It is the interest rate that is charged annually over the credit you spend. And the average credit card APR is 15.09, as mentioned in the February report. And on account that assesses interest, on average the APR is 16.91. And hence an APR below the 17.57, can be considered as a good one. And hence, this can be your APR for purchases or the balance transfers since you have a terrific credit.

Explanation:

Please check the answer section.

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Answer:

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Explanation:

The present value of the earning can be calculated by discounting the earnings for the next five years along with calculating the terminal value of earnings at the end of the five years when the growth rate in earnings becomes constant and discounting it back to the present value.

Taking the value in millions,

Present Value = 1 * (1+0.3) / (1+0.08)  +  1 * (1+0.3)^2 / (1+0.08)^2  +  

1 * (1+0.3)^3 / (1+0.08)^3  +  1 * (1+0.3)^4 / (1+0.08)^4  +  1 * (1+0.3)^5 / (1+0.08)^5  + [( 1 * (1+0.3)^5 * (1+0.02) / (0.08 - 0.02)) / (1+0.08)^5]

Present value = $51.98121436 million or $51,981,214.36

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