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Levels Tought:
Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 402 Weeks Ago, 4 Days Ago |
| Questions Answered: | 66690 |
| Tutorials Posted: | 66688 |
MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Your Christmas ski vacation was great, but it unfortunately ran a bit over budget. All is not lost: You just received an offer in the mail to transfer your $12,100 balance from your current credit card, which charges an annual rate of 19.9 percent, to a new credit card charging a rate of 10.5 percent.
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How much faster could you pay the loan off by making your planned monthly payments of $230 with the new card? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Â Â Number of months | Â Â |
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What if there was a 3 percent fee charged on any balances transferred? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) |
| Â Â Number of months | Â |
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