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finance charges are imposed on unpaid balances each month. To determine the monthly finance charge rate, the annual rate is divided by 12

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โˆ™ 2010-12-13 07:10:57
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Please Evaluate this algebra expression -4 -3

Joe borrowed 8000 dollars on a one year note at 13 percent how much will joe owe when the note comes due

How much time will a 500 investment need to earn 100 in interest at a rate of 10 percent per year

1000 dollars in a savings account pays 7 percent interest per year The interest earned after the first year is added to the account How much interest is earned on the new principal the following year

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Q: How is interest on consumer credit transactions computed?
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Related questions

A law that establishes a maximum interest rate for credit transactions of 24 percent is it substantive or procedural law?

a law that establishes a maximum interest rate for credit transactions of 24 percent


Explain why consumer credit can be costly?

consumer credit can be costly because when you used someone else money you have to pay interest


Does it boost your credit rating if you pay for a new car in full?

Cash transactions do not normally have any effect on a consumer's credit rating.


How debit and credit related to transactions?

A debit is taken straight from the money you have in your bank account. A credit is taken, then the cost billed to you. With a debit, you pay now with no interest. With a credit, you pay later with possible interest added to it.


What are the interest rates on credit card?

Interest Rates on credit cards, comes from banks or credit union that provides to the consumer borrowed money, this over a period of time that the money is borrowed. When the consumer has not paid back the borrowed money in the time that was agreed, then occur a calculation of the interest base on the credit of the consumer ( or card holder) and this represent the bankers profit. Interest rates can vary from 7 to 35%. This Interest Rate is an annually basis or APR and this fee is for the privilege of borrowing money


A law that establishes a maximum interest rate for credit transactions of 24 percent substantive or procdural?

substantive law


Which debts should be paid off first?

For consumer debts, credit cards. Highest interest.


Who often wins in credit transactions?

credit companies


What keeps business cycle going?

Investment, interest rate and credit, consumer expectations, external shock


Which websites allow people to calculate credit card interest rates?

You may find a variety of websites that calculate credit card interest rates. Bankrate, Consumer Credit, Calculator Web, and The Calculator Site are some examples.


What is interest free pricing?

Interest free pricing is where the consumer has to have approved credit in order to participate because you pay over time. It is where you do not pay interest on the purchase if you pay cash.


What are the benefits of consumer credit counseling?

The benefits of consumer credit counseling is that you will get some helpful advice on how to get your consumer credit back on track. There are many benefits that come with consumer credit counseling.

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