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13) The following table shows annual rates for various types of loans in 2015. Assume monthly payments and compounding periods. HINT [See Examples 5 and 7.] 5-Year 4-Year Loan 30-Year 15-Year Credit Cards Car Car Туре Mortgage Mortgage Loan Loan October Rate (%) 3.93 3.14 4.30 4.24 13.10 November Rate (%) 4.09 3.31 4.31 4.26 13.10 December 4.09 3.34 4.34 4.29 13.10 Rate (%) You currently owe $9000 on your credit card, which charges interest at the October 2015 rate. What is the least you need to pay per month to pay off the card in 5 years? (Round your answer to the nearest cent.) %24

13) The following table shows annual rates for various types of loans in 2015. Assume monthly payments and compounding periods. HINT [See Examples 5 and 7.] 5-Year 4-Year Loan 30-Year 15-Year Credit Cards Car Car Туре Mortgage Mortgage Loan Loan October Rate (%) 3.93 3.14 4.30 4.24 13.10 November Rate (%) 4.09 3.31 4.31 4.26 13.10 December 4.09 3.34 4.34 4.29 13.10 Rate (%) You currently owe $9000 on your credit card, which charges interest at the October 2015 rate. What is the least you need to pay per month to pay off the card in 5 years? (Round your answer to the nearest cent.) %24

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Word katie sert Draw Design Layout References Mailings Review View Help O Search Verdana - A A Aa A AaBbCcDd AaBbCcDd AaBbC AaBb AaBbCcD AaB AaBbCcD O Find BIU ab x, x' A A EE E= E- Y P Repl. 1 Normal 1 No Spac. Heading 1 Heading 2 er Heading 3 Title Subtitle Selec Font Paragraph Styles Editing 13) The following table shows annual rates for various types of loans in 2015. Assume monthly payments and compounding periods. HINT [See Examples 5 and 7.] 5-Year 4-Year Car Loan 30-Year 15-Year Credit Car Турe Mortgage Mortgage Cards Loan Loan October 3.93 3.14 4.30 4.24 13.10 Rate (%) November 4.09 3.31 4.31 4.26 13.10 Rate (%) December 4.09 3.34 4.34 4.29 13.10 Rate (%) You currently owe $9000 on your credit card, which charges interest at the October 2015 rate. What is the least you need to pay per month to pay off the card in 5 years? (Round your answer to the nearest cent.) 2$ O Focus e to search 93
Transcribed Image Text:Word katie sert Draw Design Layout References Mailings Review View Help O Search Verdana - A A Aa A AaBbCcDd AaBbCcDd AaBbC AaBb AaBbCcD AaB AaBbCcD O Find BIU ab x, x' A A EE E= E- Y P Repl. 1 Normal 1 No Spac. Heading 1 Heading 2 er Heading 3 Title Subtitle Selec Font Paragraph Styles Editing 13) The following table shows annual rates for various types of loans in 2015. Assume monthly payments and compounding periods. HINT [See Examples 5 and 7.] 5-Year 4-Year Car Loan 30-Year 15-Year Credit Car Турe Mortgage Mortgage Cards Loan Loan October 3.93 3.14 4.30 4.24 13.10 Rate (%) November 4.09 3.31 4.31 4.26 13.10 Rate (%) December 4.09 3.34 4.34 4.29 13.10 Rate (%) You currently owe $9000 on your credit card, which charges interest at the October 2015 rate. What is the least you need to pay per month to pay off the card in 5 years? (Round your answer to the nearest cent.) 2$ O Focus e to search 93
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