Answer:
For Month 1, we have:
Carry-over balance = $12,000.00
Finance charge = $189.90
New balance = $12,189.90
Minimum payment = $609.50
For Month 2, we have:
Carry-over balance = $11,580.41
Finance charge = $183.26
New balance = $11,763.66
Minimum payment $588.18
Step-by-step explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached pdf file for the complete question.
The explanation to the answer is now given as follows:
Note: See the attached excel file for calculations of the finance charge, carry-over balance, and minimum payment required for each of the next two months.
In the attached excel file, the following formulas are used:
r = Monthly percentage rate = APR / 12 = 18.99% / 12 = 1.5825%
Carry-over balance of the current month = New balance of the previous month - Minimum payment of the previous month
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<span class="sg-text sg-text--link sg-text--bold sg-text--link-disabled sg-text--blue-dark">
pdf
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Answer: see below
<u>Step-by-step explanation:</u>
A) y has the smaller radius so this is the Minor Axis
B) y has the smaller radius so these are the CoVertices
C) x has the bigger radius so these are the Vertices
D) This is the Center of the ellipse.
F & G) These are the Foci (plural for Focus)
H) x has the bigger radius so this is the Major Axis
1/2............................................ I hope this helps
