We have been given that a musician uses his credit card to pay for a new violin that costs $2,900 and does not pay on it until the second month. The interest rate of credit card is 3.35% monthly.

We will use interest formula to solve our given problem.

$I=PrT$ , where,

$I=\text{Interest}$ ,

$P=\text{Principal amount}$ ,

$r=\text{Interest rate in decimal form}$ ,

$T=\text{Time}$

Let us convert our given interest rate in decimal form.

$3.35\%=\frac{3.35}{100}=0.0335$

Upon substituting our given values in interest formula we will get,

$I=2,900*0.0335*1$

$I=2,900*0.0335$

$I=97.15$

Therefore, the monthly interest charge at the end of the 1st month will be $97.15.

7 0

3 years ago

In a sample of 30 coin flips, heads came up 6 times. What is the sample proportion for heads?

Kitty [74]

You would divide 6 by 30.
6/30=0.2
Therefore the answer is D

6 0

4 years ago

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