subject
Business, 21.12.2020 22:50 dontcareanyonemo

Oliver just got a new credit card and immediately made a purchase for $2500. The card offers a 0% APR for the first 90 days and a 17.99% APR afterward, compounded daily. Oliver doesn’t expect to pay off the $2500 balance on the card for one year, nor does he expect to make any more purchases during the year. He wants to know how much money in interest the 0% APR for the first 90 days will save him. Help Oliver calculate the answer. Ignore any possible late fees. 1. how many days out of the year will oliver pay interest at a 17.99% APR
2. what is the effective interest rate offered by oliver’s credit card. round your answer to two decimal places
3. how much will oliver pay in interest on the $2500 purchase over the course of the year?
4. what would the effective interest rate have been if the APR had been 17.99%, compounded daily, for the whole year? round your answer to two decimal places.
5. how much would oliver have paid in interest on the $2500 purchase over the course of the year with the effective interest rate from question 4?
please helppp :-((

ansver
Answers: 2

Another question on Business

question
Business, 22.06.2019 02:00
What is the main role of ctsos at the local level? at the local level, the main role of ctsos is to encourage students to become urge them to programs and competitive events.1. a.internsb.traineesc.members2.a.participateb.trainc.win
Answers: 3
question
Business, 22.06.2019 02:00
Ida sidha karya company is a family-owned company located on the island of bali in indonesia. the company produces a handcrafted balinese musical instrument called a gamelan that is similar to a xylophone. the gamelans are sold for $860. selected data for the company’s operations last year follow: units in beginning inventory 0 units produced 320 units sold 285 units in ending inventory 35 variable costs per unit: direct materials $ 135 direct labor $ 355 variable manufacturing overhead $ 30 variable selling and administrative $ 15 fixed costs: fixed manufacturing overhead $ 64,000 fixed selling and administrative $ 27,000 the absorption costing income statement prepared by the company’s accountant for last year appears below: sales $ 245,100 cost of goods sold 205,200 gross margin 39,900 selling and administrative expense 31,275 net operating income $ 8,625 required: 1. under absorption costing, how much fixed manufacturing overhead cost is included in the company's inventory at the end of last year? 2. prepare an income statement for last year using variable costing. what is the amount of the difference in net operating income between the two costing methods?
Answers: 1
question
Business, 22.06.2019 08:30
Acompany recorded a check in its accounting records as $87. however, the check was actually written for $78 and it cleared the bank as $78. what adjustment is needed to the personal statement? a. decrease by $9 b. increase by $9 c. decrease by $18 d. increase by $9
Answers: 2
question
Business, 22.06.2019 11:40
Jamie is saving for a trip to europe. she has an existing savings account that earns 3 percent annual interest and has a current balance of $4,200. jamie doesn’t want to use her current savings for vacation, so she decides to borrow the $1,600 she needs for travel expenses. she will repay the loan in exactly one year. the annual interest rate is 6 percent. a. if jamie were to withdraw the $1,600 from her savings account to finance the trip, how much interest would she forgo? .b. if jamie borrows the $1,600 how much will she pay in interest? c. how much does the trip cost her if she borrows rather than dip into her savings?
Answers: 1
You know the right answer?
Oliver just got a new credit card and immediately made a purchase for $2500. The card offers a 0% AP...
Questions
question
Mathematics, 10.06.2021 20:50
question
Spanish, 10.06.2021 20:50
question
Mathematics, 10.06.2021 20:50
question
Mathematics, 10.06.2021 21:00
Questions on the website: 13722361