Ask Question
BusinessBusiness
4 December, 22:01

You purchase a new stereo at a local electronics store and decide to pay using your credit card. You

plan to pay off this debt within a year

What is the best credit card choice from these offers?

A. 6% interest

B. 29% interest

C. 22% interest

D. 0% interest for 1 year and 12% interest after that

+3
Answers (1)
  1. L
    5 December, 00:12
    0
    D. 0% interest for 1 year and 12% interest after that

    Explanation:

    Since you are purchasing a new stereo and will be paying it off within a year, it will be best to choose a credit card that charges the lowest interest rate in the first year. This will be the one with 0% interest rate for the first year; choice D. After you use it, fully pay off the amount and you can cancel your credit card so you don't get charged the 12% interest rate from year 2 going forward.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “You purchase a new stereo at a local electronics store and decide to pay using your credit card. You plan to pay off this debt within a ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
In Sam's dry cleaning store, each employee can fold 49 shirts every hour. Assuming a level aggregate program how many employees will Sam need if to meet a demand of 4,420 shirts per day if everyone works an 8 hour shift?
Answers (1)
A buyer leases a property for a period of time and then exercises an option to buy. Which of the following best describes the Texas Real Estate Commission's position regarding the real estate agent's role in the option contract?
Answers (1)
Your credit card company charges a monthly compound interest rate of 2.5%. If you have an outstanding balance (money that you owe) of $2500, how much would it cost you to pay off this debt 2 years later?
Answers (1)
Your net worth, or your general level of financial worth, is found by A. subtracting your liabilities from your assets. B. dividing your monetary assets by your current liabilities. C. subtracting current liabilities from monetary assets. D.
Answers (1)
Sharp Corp. granted an employee an option to purchase 12,000 shares of Sharp's $5 par value common stock at $20 per share. The Black-Scholes option pricing model determines total compensation expense to be $280,000.
Answers (1)
New Questions in Business
How many megacities (those with 5 million or more inhabitants) were there in 1950, and how many do estimates suggest there will be by 2015?
Answers (1)
Sales $1,406,537 Operating Income $102,299 Total Assets (investment) $541,233 Target Rate of Return (Cost of Capital) 10% What is return on investment? Input your answer to 1 decimal place. For example if you calculate. 1892 enter 18.9.
Answers (2)
The December 31, 2020, Allowance account balance includes $3,076 for a past due account that is not likely to be collected. This account has not been written off.
Answers (1)
A venture will provide a net cash inflow of $57,000 in Year 1. The annual cash flows are projected to grow at a rate of 7 percent per year forever. The project requires an initial investment of $739,000 and has a required return of 15.6 percent.
Answers (1)
When you have an exclusive contract with a real estate agent, what does the contract entails you?
Answers (1)
Home » Business » You purchase a new stereo at a local electronics store and decide to pay using your credit card. You plan to pay off this debt within a year What is the best credit card choice from these offers? A. 6% interest B. 29% interest C. 22% interest D.
Sign In
Ask Question
Menu
Subjects