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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 would be your payment for 1400.00 balance?
To determine the payment for a $1,400.00 balance, additional information is needed, such as the interest rate, payment term, and whether it's a loan or a credit card balance. For example, if it's a loan with a fixed interest rate and a specific term, you would calculate the monthly payment using a loan amortization formula. If it's a credit card, the minimum payment might be a percentage of the balance or a flat fee set by the issuer. Please provide more details for a precise calculation.
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?
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.
Credit Card Minimum Payment Calculator?
A Credit Card Minimum Payment Calculator shows how long it’ll take to pay off your balance and how much interest you’ll pay if you only make minimum payments. check your credit card scores at PFScores
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
What is the minimum monthly payment required for this account?
The minimum monthly payment required for this account is the smallest amount of money that must be paid each month to keep the account in good standing.
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.
Is a monthly payment required on a margin account?
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Why is your minimum payment equal to the total balance due?
Because you owe them one minimum payment at the time of the invoice.
What is the minimum down payment required for a car purchase with a 50 down payment?
The minimum down payment required for a car purchase with a 50 down payment is 50 of the total cost of the car.
What is the minimum monthly payment on credit cards?
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