Describe how to find the selling price of an item that has been marked up 110%
1 answer:
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<h2>Answer:</h2>
The probability is:
It is given that:
An urn contains balls numbered 1 through 20.
A ball is chosen, returned to the urn, and a second ball is chosen.
This means that this is a case of a replacement.
Hence, one of the event is independent of the other.
Now we know that the probability to get a particular number of ball is:
( Since, there are total 20 balls and a ball of one particular number is just unique )
i.e.
Hence, the probability that the first and second balls will be a 8 is:
Answer:
It will take approximately 25 months
Step-by-step explanation:
The amount owed on the credit card statement, P = $2,000
The interest rate of the credit on the credit card, r = 18.9%
The minimum monthly payment made, M = $100
The equal monthly installment formula is given as follows;
Therefore, we get;
100×1.01575ⁿ - 100 = 31.50×1.01575ⁿ
100×1.01575ⁿ - 31.50×1.01575ⁿ = 100
68.5×1.01575ⁿ = 100
1.01575ⁿ = 100/68.5
n = ln(100/68.5)/ln(1.01575) ≈ 24.21 (which is approximately 25 months, by rounding up to the nearest whole number)
Therefore, it will take approximately 25 months to pay off the credit card debt