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DaniilM [7]
2 years ago
8

the annual interest rate on a credit card is 14.99% . If the minimum payment of 40$ is made each month, how many months will it

take to pay off an unpaid balance of $889.98? Assume that no new purchases are made with the credit card.
Mathematics
1 answer:
zmey [24]2 years ago
6 0

Answer:

Let's try and figure it out yearly:

So for the first year the deposits would amount to 40 * 12 = $480

Now since the interest rate is applied yearly we will assume that the interest rate will be applicable to the amount that is left after the first year of deposits

So that would be 889.98 - 480 = 409.98

409.98 * 14.99 % = 61.45

The new amount owed for the second year would be 409.98 + 61.45 = 471.43

So by the end of the second year the debt would of been wiped clean with $8.57 to spare.

So the answer would be 24 months

Step-by-step explanation:

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3 years ago
Tried this at least 5 times and can’t seem to get it!
Anika [276]

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D-45,45,90

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7 0
3 years ago
Julio just bought a $267,900 house. he had a 20 year mortgage with a fixed rate of 5.875%. julio’s monthly payments are $1,558.0
boyakko [2]

The percent of the purchase price for Julio’s down payment was C. 18%

<h3>What is Interest Rate?</h3>

This refers to the amount of money that is added to a loan collected by a person, for when he makes repayment.

Hence,

Given that

  • PMT monthly payment 1558.09
  • R interest rate 0.05875
  • K compounded monthly 12 because the payment is monthly
  • N time 20 years
  • Pv present value?

We use the formula Pv=pmt [(1-(1+r/k)^(-kn))÷(r/k)]

Pv= 1,558.09×((1−(1+0.05875÷12)^(−12×20))÷(0.05875÷12))

=219,684.92

Next thing to do is make a subtraction to get the down payment:

267,900−219,684.92=48,215.08

Then the percentage would be:

48,215.08÷267,900= 18% approx.

Read more about interest rates here:

brainly.com/question/25545513

#SPJ4

4 0
2 years ago
Put y + 4 = -3/4x in slope intercept form
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Y + 4 = -3/4x  --------------------> y = -3/4x - 4                                                                                                                                                                                                                    
8 0
3 years ago
GIVING BRAINLIEST TO FIRST COMPLETE ANSWER
inn [45]

Answer:

x = -1.4

Step-by-step explanation:

-3(x + 4) = 2x - 5

-3x + (-3*4) = 2x - 5

The mistake was in the above equation where -3 should be multiplied with 4.

-3x -12 = 2x -5

5 -12 = 2x+3x

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x = -7/5 = - 1.4

8 0
2 years ago
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