Answer:
c. $467.29
Step-by-step explanation:
The total of balances is $9360. The payment can be computed using the amortization formula:
A = P(r/12)/(1 -(1 +r/12)^-n)
where A is the monthly payment, P is the principal (total balance), r is the annual rate, and n is the number of months.
Filling in your numbers, we have ...
A = $9360(0.18/12)/(1 -(1 +0.18/12)^-24) ≈ $467.29
Frank's monthly credit card payment will be $467.29.
Steps to Solve:
29.3 = 1.7y
29.3/1.7 = 1.7y/1.7
y = 17.2352941176
In this case, we round up the hundredths place because the number in the thousandths place is 5 or higher.
y = 17.24
Hope this helps!! :)
whenever u get old and feellike it is time to settle down and quit wrking for whatever company you were working for
The answer for this question is choice c. Memorization is not a good way to truly understand math. You want to understand the reasoning behind your answers always.
A math expert is what you should strive to be! The first two choices are great ways to become this.
A is a binomial since it has only 2 values
