You are considering two ways of financing a spring break vacation. You could put it on your credit card, at APR, compounded monthly, or borrow the money from your parents, who want an interest payment of every six months. Which is the lower rate?  (Note: Be careful not to round any intermediate steps less than six decimal places.) The effective annual rate for your credit card is nothing%. (Round to two decimal places.)

If you miss two payments on a credit card what is generally the penalty

Peppy knows a lot about marketing, but not much about the legal or financial aspects of starting a new business. he wants to consult with a lawyer and accountant, but his budget is tight with all of the expenses involved in getting peppy's pizzazzeria up and running. peppy should: trust his basic instincts and try to put it together without the advice of lawyers and accountants. delay talking with a lawyer and accountant until the business has established a positive cash flow for at least one year. immediately hire full-time lawyers and accountants for his staff. consult with a lawyer and accountant even though the budget is tight.

You are in the market for a new refrigerator for your company’s lounge, and you have narrowed the search down to two models. the energy efficient model sells for $700 and will save you $45 at the end of each of the next five years in electricity costs. the standard model has features similar to the energy efficient model but provides no future saving in electricity costs. it is priced at only $500. assuming your opportunity cost of funds is 6 percent, which refrigerator should you purchase