The calculation uses the accumulated daily balance method (ADB).
We assume the statement is based on calendar month (rare!).
George owes $500 from beginning to end of June, so 30 days out of 30.
Interest accrued is 500*0.013*30/30=$6.50.
He also owes $2000 from June 12 to June 30, so 19 days inclusively.
Interest accrued is $2000*.013*(19/30)=16.47
Total interest at the end of the month=$6.50+$16.47=$22.97
Answer:
Hope this helps!
Step-by-step explanation:
We will need the loan payment formula:
That formula is really complex and we expect you to solve it.
Your monthly payment would be $1.93 per month for 6 years making the TOTAL loan cost 1.93 * 12 * 6 = 138.96
Since the principal you borrowed is $120 the total interest =
(138.96 minus 120.00) which equals $18.96
No image shown but just remember that percentage is out of 100
0.03 is 3%
Answer:
B=![\left[\begin{array}{ccc}0&0\\0&1\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccc%7D0%260%5C%5C0%261%5C%5C%5Cend%7Barray%7D%5Cright%5D)
Step-by-step explanation:
Let's do the multiplication AB.
If A=![\left[\begin{array}{ccc}1&0\\0&0\\\end{array}\right]](https://tex.z-dn.net/?f=%5Cleft%5B%5Cbegin%7Barray%7D%7Bccc%7D1%260%5C%5C0%260%5C%5C%5Cend%7Barray%7D%5Cright%5D)
then the first row of A is= (1 0) by the first column of B= (0 0) is equal to zero.
the first row of A is= (1 0) by the second column of B= (0 1) is equal to zero too because 1.0+0.1=0.
the second row of A is= (0 0) by any colum of B is equal to zero too.
So we have found an example that works!
