You have just entered a two-year MBA program and have decided to pay for your living expenses using a credit card that has no minimum monthly payment. You intend to charge $2,000 per month on the card for the next 24 months. The card carries an APR of 24%, with monthly compounding. How much money will you owe on the card 25 months from now, when you receive your first statement post-graduation?

Total debt= $60,843.72

Explanation:

Giving the following information:

You intend to charge $2,000 per month on the card for the next 24 months. The card carries an APR of 24%, with monthly compounding.

To calculate the total amount of debt at the end of the period, we need to use the following formula:

FV= {A*[(1+i)^n-1]}/i

A= monthly deposit= 2,000

n= 24

i= 0.24/12= 0.02

FV= {2,000*[(1.02^24)-1]}/0.02= $60,843.72

the correct answer is:

it required the president to inform congress within forty-eight hours of any new troop commitment.

the war powers resolution (1973) is a federal law designed to limit the u.s. president’s ability to initiate or intensify military actions abroad without the approval of the congress.

it establishes that the president can send armed forces into action abroad only by declaration of war by congress, statutory authorization, or in case of a national emergency created by attack upon the united states, its territories or possessions, or its armed forces.

it requires the president to notify congress within 48 hours of sending armed forces to military action.

the first one $24,630