Felipe transferred a balance of $3700 to a new credit...
2 answers:
Answer:
Option C is correct.
Step-by-step explanation:
Felipe transferred a balance of $3700 to a new credit.
The card had an introductory offer of 5.9% APR for the first 4 months and after that 17.2 % APR.
The card compounds interest monthly, that gives n = 12
So, the equation that represents Felipe's balance at the end of the year will be:
Here a is the introductory rate number of months that is 4
And b is the rest of the standard months that is 8
So, the expression becomes:
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Two options are given to Tina. We find how much she pays for each option, and the one in which she pays less offers the better value.
Tina sends 12 text messages each day in June
June has 30 days, so in June, Tina sent 12*30 = 360 text messages.
Package A:
First 100 messages cost 3p, the next 100 cost $2 and after that each costs $1.
She sends 360 messages, with:
The first 100 costing 3p.
The next 100 costing 2p.
The final 360 - 200 = 160 costing 1p.
She pays:
Package B:
2p for each message, 360 messages, so:
360*2p = 720p.
Which package is better?
Package A costs less, thus, it offers her the better value for money in 30 days.
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Answer:
The Final Investment Value is
Step-by-step explanation:
we know that
The compound interest formula is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
n is the number of times interest is compounded per year
in this problem we have
substitute in the formula above