You make a purchase of $1,987.54 using a rewards credit card that gives you 2% cash back. If the credit card has a 17.75% APR an
2 answers:
Answer: Option 'D' is correct.
Step-by-step explanation:
Since we have given that
Amount he make for a purchase = $1987.54
Cash back = 2%
Amount of cash back is given by
Rate of interest = 17.75%
Interest of first month will be
So, Difference between the first month's interest and the reward is given by
Hence, Option 'D' is correct.
You might be interested in
Answer:
Jen would be in the 8th grade and her favorite class would be science.
My work is below. However, I did not do it in a 3-by-6 grid.
Step-by-step explanation:
To graph the line, we must first find out the equation for the line in slope-intercept form (y = mx + b). So far, we only have the slope, so the line's equation is y = 3/4x + b. But, by inserting the values of x and y in the point we know, we can find the y - intercept.
4 = 3/4 + b
b = 13/4
That means that the equation of our line is y = 3/4x + 13/4. Now we can graph. But, there is another way to go about (slightly faster too). Since we know the coordinates of 1 point, we can put that line down. Then, since we know that slope is rise over run, we can say, that with a slope of 3/4, one would go 3 points up for every 4 to the right. Now we can go 3 points up and 4 points to the right of point (1,4). That would be (5, 7). Now we can graph (since we have 2 points, or an equation).
The graph looks like this:
