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- Simon recently received a credit card with a 15% nominal Interest rate. With the card, he purchased an Apple iPhone 11 for $660. The minimum payment on the card is only $10 per month. a. If Simon makes the minimum monthly payment and makes no other charges, how many months will it be before he pays off the card? Do not round Intermediate calculations. Round your answer to the nearest whole number. month(s) b. If Simon makes monthly payments of $35, how many months will it be before e pays off the debt? Do not round Intermediate calculations. Round your answer to the nearest whole number. month(s) c. How much more in total payments will Simon make under the $10-a-month plan than under the $35-a-month plan? Do not round Intermediate calculations. Round your answer to the nearest cent. $Simon recently received a credit card with an 18% nominalinterest rate. With the card, he purchased an Apple iPhone 7 for $372.71. The minimumpayment on the card is only $10 per month. a. If Simon makes the minimum monthly payment and makes no other charges, howmany months will it be before he pays off the card? Round to the nearest month.b. If Simon makes monthly payments of $35, how many months will it be before he paysoff the debt? Round to the nearest month.c. How much more in total payments will Simon make under the $10-a-month plan thanunder the $35-a-month plan? Make sure you use three decimal places for N.Brandon has reached his credit card limit of $5000.00. Using an online calculator, Brandon determined that if he pays $180.00 per month, it will take him 39 months to pay off the credit card. Which of the following represents the total interest Brandon will pay when his debt is paid off? A $1,700.40 B $2,020.00 C $1,100.00 D $858.10 Need ASAP please
- Peyton has a Home Depot credit card. The card has a balance of $4456.39 with an APR of 28.79%. The Home Depot expects the minimum payment to be 3.8% of the balance. What is Peyton’s minimum payment? How long will it take Peyton to pay off his Home Depot credit card? How much interest will Peyton pay if he only pays the minimum payment?Minimum payment Months to payoff InterestRyan has a RaceTrac credit card. The card has a balance of $685.37 with an APR of 28.95%. The RaceTrac expects the minimum payment to be 4.2% of the balance. What is Ryan’s minimum payment? How long will it take Ryan to pay off his RaceTrac credit card? How much interest will Ryan pay if he only pays the minimum payment? Show steps.Helen recently received a credit card with a nominal interest rate of 21 percent. With the card, she purchased some new clothes for $350. The minimum payment on the card is only $15 per month. If Helen makes the minimum monthly payment and makes no other charges, how long will it be before she pays off the card? a. 14.5 months b. The card will never be paid off. c. 30.3 months d. 46.9 months e. 18.2 months
- Joe has a Sports Academy credit card. The card has a balance of $2751.29 with an APR of 26.79%. The Academy expects the minimum payment to be 3.7% of the balance. What is Joe’s minimum payment? How long will it take Joe to pay off his Sports Academy credit card? How much interest will Joe pay if he only pays the minimum payment?Minimum payment Months to payoff InterestAbby’s cat, Si, has convinced her to set up an account that will assure him of his Meow Mix for the next four years. Abby will deposit an amount today that will allow Felix to make end-of-month withdrawals of $10 for the next 48 months. Assume an interest rate of 6% and that the account will have a zero balance when the last withdrawal is made. What is the amount that Abby should deposit? What is the account balance immediately after the 24th withdrawal is made?Troy already had a balance of $104.75 on his credit card when he used it to purchase items totalling $128.37. His minimum monthly payment is 4% of the balance or $20, whichever is greater, and the interest is 18.7%, compounded daily. a) How long will it take Troy to pay off the balance if he pays only the minimum? b)How much interest will he pay?
- Jason has a credit card with an APR of 29.5% and a current balance of $13,150.35. He wants to pay it off in 3 years. What will Jason’s monthly payment be? (Remember a credit card is compounded monthly.) Round to the nearest dollar.Jeanette took out a loan from the bank today for X. She plans to repay this loan by making payments of $100.00 per month for a certain amount of time. If the interest rate on the loan is 0.66 percent per month, she makes her first $100.00 payment later today, and she makes her final monthly payment of $100.00 in 12 months, then what is X, the amount of the loan? A O An amount less than $1,153.00 or an anmount greater than $1,324.00 O An amount equal to or greater than $1,153.00 but less than $1,199.00 O An amount equal to or greater than $1,199.00 but less than $1,245.00 O An amount equal to or greater than $1,245.00 but less than $1,275.00 O An amount equal to or greater than $1,275.00 but less than $1,324.00Brandon has reached his credit card limit of $5000.00. Using an online calculator, Brandon determined that if he pays $180.00 per month, it will take him 39 months to pay off the credit card. Which of the following represents the total interest Brandon will pay when his debt is paid off? Please i really need this i submitted on my other account still did not get answer please make this fast.