The average daily balance for the month was $84.21, and the finance charge for the month was $30.13.
<h3><u>Averages</u></h3>
Given that Sally's balance on her credit card is $75.00 on the first day of August, and she makes a payment of $18.00 on August 17 and a new purchase of $41.00 on August 29, and the annual interest rate is 21.25%, to determine what is Sally's average daily balance and finance charge for the month of August, the following calculation must be made:
- 75 x ((21.15/12 x 16) / 100) + 75 = A = 86.89
- 57 x ((21.15/12 x 13) / 100) + 57 = B = 70.06
- 98 x ((21.15/12 x 3) / 100) + 98 = C = 103.18
- (86.89 x 16 + 70.06 x 13 + 103.18 x 3) / 31 = X
- 84.21 = X
- 86.89 + 70.06 + 103.18 - 75 - 57 - 98 = Y
- 30.13 = Y
Therefore, the average daily balance for the month was $84.21, and the finance charge for the month was $30.13.
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0.2 + 0.3 + 0.5 = 1
190 x 0.2/1 = 38
190 x 0.3/1 = 57
190 x 0.5/1 = 95
190
0.2: 0.3: 0.5
38: 57: 95
9514 1404 393
Answer:
A) $1350
B) $5850
C) $162.50
Step-by-step explanation:
A) The interest is given by the formula ...
I = Prt
where P is the principal amount, r is the interest rate, and t is the number of years.
I = $4500×0.10×3 = $1350
The interest owed is $1350.
__
B) At maturity, the principal and interest are due. That amount is ...
$4500 +1350 = $5850
The maturity value is $5850.
__
C) If the maturity value is paid in 36 equal monthly installments, each is ...
$5850/36 = $162.50
The monthly payment is $162.50.
Answer:
The farmer bought 36 pigs in all.
Step-by-step explanation:
Given that a farmer bought a number of pigs for $ 160, but, however, 8 of them died before he could sell the rest at a profit of 6 per pig, and his total profit was $ 8, to determine how many pigs did he originally buy the following calculation must be performed:
160 + 8 = 168
168/6 = 28
28 + 8 = 36
Thus, the farmer bought 36 pigs in all.
Answer:
I wont tell you the answer but I can tell you how to solve this one.
Step-by-step explanation:
If they are both squared then square them. Once you have the hypotenuse and the leg squared subtract the leg from the hypotenuse. That's your answer. Then you un- square it by finding the square root of the new number. That square root is your answer
