The balance on a credit card, that charges a 15.5%APR interest rate, over a 1 month period is given inthe following table:Days 1
-5: $200 (initial balance)Days 6-20: $350 ($150 purchase)Days 21-30: $150 ($200 payment)What is the finance charge, on the average dailybalance, for this card over this 1 month period?finance charge = $ [?]Round to the nearest hundredth.Enter
1 answer:
First step is to get the average daily balance.
Take the sum of each day's balances.
If a payment has been made, the sign will be negative.
From Days 1 - 5 :
Day 1 = $200
Day 2 = $200
...
Day 5 = $200
That's $200 x 5 days = $1000
From Days 6 - 20 :
Day 6 = $350
Day 7 = $350
...
Days 20 = $350
That's $350 x 15 days = $5250
From Days 21 - 30 :
Day 21 = $150
Day 22 = $150
...
Day 30 = $150
That's $150 x 10 days = $1500
A total of :
$1000 + $5250 + $1500 = $7750
Now divide this total to the number of days to get the ADB or Average Daily Balance.
Next Step is to calculate for the finance charge using the formula :
where ADB is the average daily balance
r is the interest rate per day
d is the number of days or period given
From the problem, APR is 15.5%, it means that we need to divide the APR by 365 days.
So r = 0.155/365 = 0.000425
And we have d = 30 days
The charge will be :
Charge = 258.33 x 0.000425 x 30 = $3.29
The answer is $3.29
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Answer:
a) Hence the equation of the sinusoidal function that describes the height of the shorts in terms of time is
b) Hence the height of the shorts at exactly t = 10 minutes, to
the nearest tenth of a meter is 5.5 meters
Step-by-step explanation:
a) The wind turbine blade traverses a circular path as it rotates with time (t), whose time variation is given by the following trajectory equation :
,
where
R = (16 m - 2 m)/2 (since diameter = maximum height - minimum height of the pink short)
= 14 m / 2
= 7 m (radius of the circle)
Also, center of the circle will be at (0, 2 + R) i.e (0,9)
So, is the trajectory path equation to the circle
Let be the parametric form of the above circle equation which represent the position of the pink shorts at the tip of the blade at time t
At t= 10s, y = 16 m so we have,
---------------(1)
Also, at t= 25s, y =2 m so we have,
--------------(2)
Solving we have,
Therefore is the instantaneous height of the pink short at time t ( in seconds)
b) At t= 10minutes = 10 * 60 s = 600s, we have,
= 5.5 meters (pink short will be at 5.5 meters above ground level at t= 10 minutes)
Don't know if it's right, but do let me know! use percentage to visualise your workings. :)
