Loading...

Messages

Proposals

Stuck in your homework and missing deadline? Get urgent help in $10/Page with 24 hours deadline

Get Urgent Writing Help In Your Essays, Assignments, Homeworks, Dissertation, Thesis Or Coursework & Achieve A+ Grades.

Privacy Guaranteed - 100% Plagiarism Free Writing - Free Turnitin Report - Professional And Experienced Writers - 24/7 Online Support

Calculating the cost of credit card purchases worksheet answers

08/10/2021 Client: muhammad11 Deadline: 2 Day

The Cost Of Credit Card Usage Worksheet

How much interest are you paying on your credit cards? How much are you actually paying when you charge something to a credit card? You are not using your own financial information in this assignment, but it is designed to demonstrate your understanding of the cost of credit.Â

Review your Week 3 Learning Activities, especially Focus on Personal Finance, Ch. 5, the Khan Academy Video Reflection, and your iGrad Credit Card Module

Title

ABC/123 Version X

1

The Cost of Credit Card Usage Worksheet

FP/100 Version 1

1

University of Phoenix Material

The Cost of Credit Card Usage Worksheet
Review Ch. 5 of Focus on Personal Finance, your Week 3 Khan Academy Video, and your iGrad Credit Card Module for support in completing this assignment.

1. Calculate the following using the Bankrate calculator . You may use the Bankrate calculator for the remainder of the questions on this worksheet.

Credit Card Balance

Interest Rate

Minimum/Fixed Payment

Number of Months to Pay in Full

Total Interest Paid

Impact of Interest Rates

$5,000

13%

Minimum (interest+1% of balance)

$5,000

18%

Minimum (interest+1% of balance)

Impact of Payment Amounts

$2,000

15%

Minimum (interest+1% of balance)

$2,000

15%

Fixed $100

2. In the “Impact of Interest Rates” example, a 5% interest rate difference results in how much extra interest paid when making only a required minimum monthly payment equal to the monthly interest, plus 1% of the outstanding balance?

3. In the “Impact of Payment Amounts” example, how much total interest would you save by making a fixed payment of $100 per month instead of the required minimum payment equal to the monthly interest, plus 1% of the outstanding balance?

4. How much quicker would you be able to pay off the $2,000 credit card balance by making a fixed payment of $100 each month instead of the required minimum payment?

5. Assume you have a friend who is making the minimum monthly payments on a credit card. Your friend asks your thoughts on what he or she is doing. Based on these calculations and what you have learned, how would you advise your friend about making only minimum payments? Your response should be at least 100 words.

6. The chart above looks at paying off a credit card balance and assumes you will not be using it while paying it down. In these minimum payment examples the balance decreases by only 1% each month. Most of us will use credit cards throughout the year, and that means we may carry a balance past the grace period. Assuming you were trying to pay off the balance while still using the card, what actions must you take? Your response should be at least 100 words.

7. What recommendations would you make in regards to properly managing credit card usage and repayment? Your response should be at least 100 words.

Choosing Between Credit Card Options

Review the Schumer Box information provided below for two credit card options, and then answer the question that follows.

CARD DISCLOSURES

Credit Card Option A

Credit Card Option B

Annual Percentage Rate (APR) for Purchases and Transfers

24.99%, variable

13.24%, variable

APR for Cash Advances

24.99%, variable

23.24%, variable

Annual Fee

$0

$59

Transfer Fee

3% of balance transferred

$0

Grace Period

20 days

25 days

Late Payment Fee

$25

$35

Rewards Program

No

Yes

8. Which one of these two card options would you choose for your personal use? Provide support for your decision, considering which three attributes are most important to you and trade-offs that you are willing to accept. Your response should be at least 100 words.

Copyright © XXXX by University of Phoenix. All rights reserved.

Copyright © 2017 by University of Phoenix. All rights reserved.

Homework is Completed By:

Writer Writer Name Amount Client Comments & Rating
Instant Homework Helper

ONLINE

Instant Homework Helper

$36

She helped me in last minute in a very reasonable price. She is a lifesaver, I got A+ grade in my homework, I will surely hire her again for my next assignments, Thumbs Up!

Order & Get This Solution Within 3 Hours in $25/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 3 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 6 Hours in $20/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 6 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

Order & Get This Solution Within 12 Hours in $15/Page

Custom Original Solution And Get A+ Grades

  • 100% Plagiarism Free
  • Proper APA/MLA/Harvard Referencing
  • Delivery in 12 Hours After Placing Order
  • Free Turnitin Report
  • Unlimited Revisions
  • Privacy Guaranteed

6 writers have sent their proposals to do this homework:

Top Academic Tutor
Homework Master
Finance Homework Help
Helping Hand
Study Master
Helping Engineer
Writer Writer Name Offer Chat
Top Academic Tutor

ONLINE

Top Academic Tutor

I have read and understood all your initial requirements, and I am very professional in this task.

$45 Chat With Writer
Homework Master

ONLINE

Homework Master

Give me a chance, i will do this with my best efforts

$28 Chat With Writer
Finance Homework Help

ONLINE

Finance Homework Help

I will cover all the points which you have mentioned in your project details.

$45 Chat With Writer
Helping Hand

ONLINE

Helping Hand

I will cover all the points which you have mentioned in your project details.

$39 Chat With Writer
Study Master

ONLINE

Study Master

I am known as Unrivaled Quality, Written to Standard, providing Plagiarism-free woork, and Always on Time

$44 Chat With Writer
Helping Engineer

ONLINE

Helping Engineer

Hello, I an ranked top 10 freelancers in academic and contents writing. I can write and updated your personal statement with great quality and free of plagiarism

$40 Chat With Writer

Let our expert academic writers to help you in achieving a+ grades in your homework, assignment, quiz or exam.

Similar Homework Questions

University of sheffield campus map - University of bath campus map - Apple watch the launch case study - Denver airport project case study - Human Resource management: Final Project Milestone One Guidelines and Rubric - Urgent 1 - Acc 291 week 1 connect assignment - Electric field hockey post game analysis answers - Sewing machine sketch with label - 2.2 k ohm resistor color code - Fiba official basketball rules 2014 - Beldray digital plug in heater 17.85 amazon - Research Customer Service Policies - Hol lab answers - Life cycle of starbucks company - Myron l company ultrapen - Battery recycling plant ppt - Carmex leveraging facebook for marketing research - Sharon pope autopilot - 3rd degree heart block acls - Show off dance tidworth - Discussion post - Write an equation for the function graphed below - Martha rinaldi case study - Class captain speeches primary school - The scarlet letter chapter 12 questions and answers - Principles of management charles wl hill pdf - The principles of ecology worksheet answers - St lucy's home raised by wolves short story sparknotes - Win32 dh er4utxvzg3u - Dar glass menagerie - Leakiest capillaries - Dissertation Outline - Dodge bearing lubrication guide - Investigating the ph scale phet answers - El enfermero le la temperatura al paciente. (tomar, ir) - Almay tlc foundation target - Virtual lab sex linked traits worksheet answer key - What is monsanto's mission statement - Fdi system of tooth numbering - Catholic saints - Discussion essays guru only - Calculator program using java swing - College algebra pearson 11th edition - Clapham manor swimming pool - Public wants definition - Organizing the elements answer key - Complete the reaction cao h2o - Ib business management cambridge answers - Woidtke manufacturing's stock currently - Ib schools in miami - SOCW 6111 - Airline seats reservation java program - Labor Relations and Collective Bargaining - Features of a newspaper report - NRS-410V-0L191 Pathophisiology and Nursing Management of Client Health. - Help me out!!!!!!!!!!!!!!!!!!!!! - Persuasive Speech Outline and Speech - Classic of poetry fishhawk - Validating node self description database riverbed - Freedom foods corn flakes woolworths - Explain how enterprise applications improve organizational performance - International relations major stanford - Acer umat practice test - Baby bunting campbelltown car seat fitting - Meta Themes Draft - Accounting Discussion Topic-----DUE TODAY - Enrolment week cardiff university - Explain the concept of statistical quality control - What is the use of delphi method in demand forecasting - What is the transaction code to display current a material - Palmer notation tooth numbering system - Unit step function laplace transform examples - How to make a rock cycle project - Zip hydrotap installation manual - Is a mole a herbivore carnivore or omnivore - Riverview community hospital case study answers - Biology test - 4.05 the great depression - Give the iupac name for the following structure - Marketing and distribution channel letter - Nature conservation council of nsw - MKT/421T - Read the source and make a google slide of it. - Deadly persuasion jean kilbourne pdf - WEEK 5 Discussion Prompt 2 Pharmacology - Books to read for accounting and finance personal statement - What happened to the quants in august 2007 - Which one of the following is a transition metal - Cause-and-Effect Essay - Chaos greek god family tree - Can t open eyes underwater - The science of poultry and meat processing pdf - 4/3-1 change - There was an old lady template - Chapter 1 great expectations summary - Hp rdx backup software - Anti utopia vs dystopia - Susan nichter paintings never been seen - Panic disorder with agoraphobia case study