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Natalka [10]
1 year ago
6

What do I put in the boxes if the answer is 1.74%?

Mathematics
1 answer:
gavmur [86]1 year ago
6 0

If a credit card advertises an annual interest rate of 23%, then the equivalent monthly interest rate is 1.74%

The annual interest rate = 23%

The credit card interest rate the amount you have to pay to borrow the money from them.  The credit card interest rate is usually expressed in yearly rate. This is called annual percentage rate.

The monthly interest rate = (1+\frac{23}{100})^{(1/12)}

= (1+0.23)^{(1/12)}

= 1.0174

Then,

= (1.0174-1) × 100%

Subtract the terms first

= 0.0174 × 100%

Multiply it

= 1.74%

Hence, if a credit card advertises an annual interest rate of 23%, then the equivalent monthly interest rate is 1.74%

Learn more about annual percentage rate here

brainly.com/question/10795072

#SPJ1

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Mary had $156.00 and spent 1/6 of it for a coat. She then bought a skirt with 1/4 the money she had left. How much money did she
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Answer: $ 97.5

Step-by-step explanation:

156 * 1/6 = 26

156-26=130

130 * 1/4- 32.5

130-32.4= 97.5

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A prize wheel at a county fair is divided into 9 equal sections. Each section on the wheel is marked with a letter. Each letter
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Step-by-step explanation:

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3 years ago
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Kipish [7]
A. is the correct answer.

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3 years ago
Tommy can ride his bicycle 4.5 miles in 15 minutes. How many miles can he ride in 75 minutes
adoni [48]
Here, we need to set up a proportion.

4.5 miles in 15 minutes.

In 75 minutes, how much miles can he ride?

4.5/15 = x/75

Cross multiply

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Final answer:- Tommy can ride 22.5 miles in 75 minutes. 


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