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Elementary,Middle School,High School,College,University,PHD
| Teaching Since: | May 2017 |
| Last Sign in: | 398 Weeks Ago, 2 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
The Boston Globe reported on August 21, 2009, credit card companies cut limits on 58 million cardholders spanning from May 2008 to April 2009. This affected about one-third of American consumers. Surprisingly, many of these consumers had good credit scores. Dionne McGrady had planned on using a 0% interest for a year transfer credit card offer to make $8,500 worth of home improvements before her credit limit was cut. Because of this cut, she had to take out a loan to finance the project. She was offered an 11%, 10% down, 12-month loan. What is her monthly payment to the nearest cent (use loan amortization table)? What will the reduction in credit limit cost her?
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