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What if your credit card balance is 1150 and the minimum monthly payment required is 3 what is the minimum amount you must pay thus month?
Wiki User
∙ 14y ago
3. You said so yourself. Perhaps you meant "3%"? Well, 3% of $1150 is $34.50.
On a more practical note, paying for interest is paying for nothing. Pay off the whole darn thing and stop wasting your money making someone else rich.
Wiki User
∙ 14y ago
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If your credit card balance is 1150 and the minimum monthly payment required is 3 percent What is the minimum amount you must pay this month?
34.50
If your credit card balance is 1150 and the minimum monthly payment is 3 percent what is the minimum amount you must pay?
$1150.00 X 3% = $34.50 minimum payment or $1150.00 X .03 = $34.50 minimum payment
What is the formula for finding monthly payment when you know the interest and principle amouint?
total cost= monthly payment [1-(1+APR)to the power of -n/APR
Malik purchased a pair of roller blades that were originally priced at 250 for a sale price of 180 He charged the roller blades on his credit card and made the minimum monthly payment of 20 When?
$470
What is the monthly interest payment on 10000 dollar loan for 3 years at 5 percent interest per month?
Assuming that the loan principal is paid off in equal installments AND the monthly payment is to be kept the same, the average simple interest paid per month for the loan may be computed as follows: $10,000 principal balance at time 0 months $0 principal balance at time 36 months ($10,000 + $0) / 2 = $5,000 average balance $5,000 is average balance throughout the period of the loan $5,000 x 5% per month = approximately $250 per month. However, the amount of REAL interest is different throughout the life of the loan.
If your credit card balance is 1150 and the minimum monthly payment required is 3 percent What is the minimum amount you must pay this month?
34.50
If your credit card balance is 1150 and the minimum monthly payment is 3 percent what is the minimum amount you must pay?
$1150.00 X 3% = $34.50 minimum payment or $1150.00 X .03 = $34.50 minimum payment
If you pay the minimum monthly payment will you owe interest?
Yup, you will owe a lot of interest, because a monthly minimum payment just keeps the card current and upto date. Whatever is your APR divide that by 12 is your monthly interest on the balance at that time.
What is the minimum amount of automobile insurance?
A down payment is normally required of $50 and then billed monthly at $12.75.
How does amex calculate your minimum payment?
Minimum payments are a percentage of your current balance. As your balance lowers, so does your minimum payment amount. For a specific equation on how the minimum payment is calculated, contact Amex directly.
Are late fees removed from the balance when paid with a regular payment?
Yes, for most loans. For most loans, the late fee is added to the minimum payment required (and the balance at the time of incurring the late fee) and will be deducted from the balance once the payment is received.
You had a credit card with Household Bank that went into collection you've been paying the collection company every month for 2 years but your balance keeps going up what can you do?
What is the Annual Percentage rate set at? Are you making more than the minimum monthly payment? Is the collection agency charging any monthly fees? If you are making a $10.00 a month payment and the finance charges are $8.00, only two dollars is being applied to wards the balance, each month. Check to see how much of your monthly payment is going to the finance charges and then increase your monthly payment to cover the minimum monthly payment and finance charges.
What is the minimum payment due on a credit card with a 50000 balance?
Most credit card issuers have moved to a monthly minimum payment due of 4% of the outstanding balance. For a $50,000 balance this would equate to $2,000. Some issuers only require 2% or 3% minimum payments, which would equate to $1,000 or $1,500, respectively. You would need to check with your credit card issuer to determine their particular minimum payment requirements. Check out CreditCards.com/calculators.php to look at different scenarios.
Why is your minimum payment equal to the total balance due?
Because you owe them one minimum payment at the time of the invoice.
Can you send credit cards 5.00 per month and do they have to accept it?
Most credit card companies demand a minimum monthly payment of 5% of your balance owed.If you owe $1000 your minimum payment would be $50.You can send any amount you want. However your balance owing will steadily increase. It will only affect your credit rating.If you pay only the minimum payment each month, it will take years for you to pay your bill.
Is a monthly payment required on a margin account?
anonymously
What is the minimum monthly payment on credit cards?
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