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Natasha_Volkova [10]
3 years ago
12

Mr. Fraser bought new shingles for his house for $3,500 using a credit card. His card has an interest rate of 17%. If he does no

t pay off his balance at the end of the month and he has no other charges, how much money will he owe on his credit card at the end of the first month?
Mathematics
1 answer:
kow [346]3 years ago
3 0
Mr. Fraser will owe $4,095 at the end of the month.

3500 + 3500(0.17) = x

3500 + 595 = x

x = 4095
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Answer:

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Step-by-step explanation:

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\bf \begin{array}{|c|ll} \cline{1-1} \textit{point-slope form}\\ \cline{1-1} \\ y-y_1=m(x-x_1) \\\\ \cline{1-1} \end{array}\implies y-\stackrel{y_1}{8}=\stackrel{m}{-\cfrac{5}{3}}[x-\stackrel{x_1}{(-6)}]\implies y-8=-\cfrac{5}{3}(x+6) \\\\\\ y-8=-\cfrac{5}{3}x-10\implies y = -\cfrac{5}{3}x-2

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To calculate distance between two points we use the distance formula sqrt((x2−x1)^2+(y2−y1)^2).  

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The last thing we do to find the distance is take the square root of 53. 53 is not a perfect square and is also a prime number so our answer in simplest form is still sqrt53.<span />
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