34.50
$1150.00 X 3% = $34.50 minimum payment or $1150.00 X .03 = $34.50 minimum payment
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.
total cost= monthly payment [1-(1+APR)to the power of -n/APR
$470
$492.25
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.
$1150.00 X 3% = $34.50 minimum payment or $1150.00 X .03 = $34.50 minimum payment
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.
A down payment is normally required of $50 and then billed monthly at $12.75.
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.
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.
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.
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.
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Because you owe them one minimum payment at the time of the invoice.
The minimum down payment required for a car purchase with a 50 down payment is 50 of the total cost of the car.
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