Assignment 2: LASA 1: Analysis of Credit Card Debt

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Assignment 2: LASA 1: Analysis of Reputation Card Debt 

Credit card claim is a substance for numerous in today’s universe. Suppose that you had a $5,270.00 weigh on a reputation card delay an annual percentage trounce (APR) of 15.53 percent. Consider the forthcoming questions and ordain a ment invetereprimand upon your conclusions.  This ment must be submitted as a Word instrument and charity to the M3: Assignment 2 Dropbox. Consider the forthcoming questions and ordain a ment invetereprimand upon your conclusions.  Your ment should be originated as a Word instrument, but you are encouraged to originate graphs and charts (which can be made in Excel and copied to the Word instrument) to illusttrounce your points. Remember: gain unfailing you clear-up what the charts and/or graphs moderation; do not exhibit the reader understands what they moderation.

  1. Most reputation cards exact that you pay a stint monthly reimbursement of two percent of the weigh. Invetereprimand upon a weigh of $5,270.00, what would be the stint monthly reimbursement (bombastic no other fees are substance applied)? 
  2. Considering the stint reimbursement you sound adapted, enumereprimand the whole of curiosity-behalf and the whole that was applied to bring the primary. Hint: You’ll insufficiency to perceive the completion curiosity-behalf for the year foremost. 
  3. Consider one of your reputation cards. What is the weigh? How is the stint monthly reimbursement enumerated? What would be the stint reimbursement? How ample of the stint reimbursement goes towards curiosity-behalf? How ample of the stint reimbursement goes towards the primary? If you do not failure to divide an real weigh or do not possess a reputation card, estimate these wholes using an spurious reputation card weigh. 
  4. Now, criticize the provisions of one of your reputation cards or other revolving claim. Are there other beak that the reputation card union is adduceing to your representation? Are you receiving a specific trounce for a poor term? Does your card load an annual employment load or an indolence fee? 
  5. Examine a reputation card mandible (or other revolving claim) and see how desire it achieve siege to pay off your claim if you compensated singly the stint reimbursements (you can besides use an online calculator love the one at http://www.bankrate.com/calculators/managing-debt/minimum-payment-calculator.aspx). What steps could you siege to pay off this reputation card (or claim) ahead? Enumereprimand the percentage of the primary that you insufficiency to pay down in ordain to pay off the reputation card in the term furnish of your choosing. 
  6. Many Americans perceive themselves amassing big wholes of reputation card (or other revolving) claim at an coming age. What teaching touching the use of reputation cards and the fees they load would you procure to a immature adult planning on getting a reputation card? 

By Wednesday, August 16, 2017, perfect the assigned exercises.

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