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Xelga [282]
3 years ago
14

You charged 1,000 on your credit card for Christmas presents. Your credit card company charges you 26% annual interest, compound

ed monthly. If you make the minimum payments of $25 per month, how long will it take (to the nearest month) to pay off your balance
Mathematics
1 answer:
Grace [21]3 years ago
3 0

Answer:

  94 months

Step-by-step explanation:

You can use the amortization formula for this.

  A = P(r/12)/(1 -(1 +r/12)^(-n))

A is the monthly payment; P is the principal amount; r is the annual interest rate, and n is the number of months.

__

Filling in the numbers, we can solve for n:

  25 = 1000(0.26/12)/(1 -(1+0.26/12)^-n)

Multiplying by the denominator and dividing by 25, we have ...

  1 -(1+0.26/12)^-n = 1000(0.26)/(12(25)) = 13/15

Subtracting 13/15 and adding (1+0.26/12)^-n gives ...

  2/15 = (1+0.26/12)^-n

Taking logs turns this into a linear equation:

  log(2/15) = -n·log(1+0.26/12)

  n = log(15/2)/log(1+0.26/12) = 93.999

It would take 94 months, or 7 years 10 months, to pay off the balance.

_____

Your total of payments would be $2,350.

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AleksAgata [21]

Answer:

Since there are 60 seconds in one minute, we can write this as 146,000 inches per minute. Since there are 60 * 60 = 3600 minutes in one day, we can write it as 525,600,000 inches per day. Since there are about 63360 inches in one mile, the answer is about 8295 miles per day.

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Wes is pouring some ketchup for his potato wedges. Is it reasonable to say that Wes will use 2 fluid ounces?
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Yes, 2 ounces is reasonable
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What is the perimeter of the triangle (4,1) (2,5) (1,-1)
Naya [18.7K]

the perimeter of the triangle=14.38

The coordinates of the triangle (4,1),(2,5),(1,-1);

In geometry, the perimeter of a shape is defined as the total length of its boundary.

The perimeter of the triangle is the sum of all the sides of the triangle =a+b+c (assuming a,b, and c are the sides of the triangle)

By using the distances formula find the length of the sides of the triangle:√[(x₂ - x₁)² + (y₂ - y₁)²],

where (x₁,y₁),(x₂,y₂) are the coordinates ,

a=√[(4 - 2)² + (1- 5)²] = \sqrt 20=4.7

b=√[(2 -1)² + (5 -(-1))²]=\sqrt37=6.08

c=√[(1 -4)² + ((-1)-1)²]=\sqrt13=3.60

the perimeter of the triangle=a+b+c=4.7+6.08+3.60=14.38

hence ,perimeter of the triangle=14.38

Learn more about perimeter of triangle:

brainly.com/question/23935199

3 0
1 year ago
A tenant rented a store to use as a real estate school at a base rent of $1,500 a month. Additionally, the tenant agreed to pay
allsm [11]

Answer:

3. $600,000

Step-by-step explanation:

We have been given that a tenant rented a store to use as a real estate school at a base rent of $1,500 a month. Additionally, the tenant agreed to pay 3% of gross annual sales over $200,000.

Let us find base annual rent.

\text{Base annual rent}=\$1500\times 12\\\\ \text{Base annual rent}=\$18,000

Let us find the amount of rent paid as 3% of gross annual sales.

\$30,000-\$18,000=\$12,000

Let us find amount of sales over $200,000 by dividing $12000 by 3% or 0.03.

\frac{\$12,000}{0.03}=\$400,000

Total sales would be $400,000 plus $200,000.

\text{Total sales}=\$400,000+\$200,000\\\\ \text{Total sales}=\$600,000

Therefore, the total sales for that year was $600,000 and 3rd option is the correct choice.

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3 years ago
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jok3333 [9.3K]

Answer:

9/10 or 0.45 in decimal form

Step-by-step explanation:

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