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4 years ago

If a credit card holder has a low APR. The minimum monthly payments will be?

Mathematics

1 answer:

Aleks04 [339]4 years ago

4 0

Answer:

Option B, the minimum monthly payments will be LOWER

Step-by-step explanation:

We can proof this by using hypothetical scenario below:

John has $1,500 with APR of 10% payable in 48 month equal instalment

Timmy has $1,500 with APR of 8% payable in 48 month equal instalment

Let us calculate monthly payment in each case

=pmt(rate,nper,-pv,fv)

rate is the monthly rate which APR/12

nper is 48

pv is the balance on the card which is $1,500

fv is the total monthly repayment which is unknown

John monthly payment=pmt(10%/12,48,-1500,0)=$38.04

Timmy monthly payment=pmt(8%/12,48,-1500,0)=$ 36.62

Since Timmy with a lower APR has a lower monthly payment, option B is correct

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To raise money for new uniforms, the band boosters sell t-shirts and hats. The cost and sale price of each item is shown. The bo

Mila [183]

Found the problem:
Item Cost Sales Price
T-shirt 6 10
hats 4 7

Let x = t-shirts, y = hats

6x + 4y = 2,000
10x + 7y = 3,375

4y = 2000 - 6x
y = 2000/4 - 6x/4
y = 500 - 3x/2

10x + 7y = 3,375
10x + 7(500 - 3x/2) = 3,375
10x + 3500 - 21x/2 = 3,375
10x - 10.5x = 3,375 - 3500
-0.5x = -125
-0.5x / -0.5 = -125/-0.5
x = 250 shirts

They will need 250 shirts.

5 0

3 years ago

Math Draw a quick picture to show the number 24. Then draw a quick picture to show 24 after you have regrouped I ten as 10 ones.

Stells [14]

Grouping 1 10 as 10 1's is the same because you have just rearranged the numbers but they equal the same

4 0

3 years ago

PLZ HELP ASAP!!

Lilit [14]

The measure of first angle is 34 degrees and measure of second angle is 56 degrees

Solution:

Given that, the exterior sides of two adjacent angles make a right angle

Therefore, these adjacent angles forms 90 degrees

Let the second angle be "x"

The first angle has a measure that is six more than half the second

Therefore,

first angle = 6 + half of "x"

$\text{ first angle } = 6 + \frac{x}{2}$

Since these two angles forms 90 degrees,

first angle + second angle = 90

$x + 6 + \frac{x}{2} = 90\\\\\frac{2x + 12 + x}{2} = 90\\\\2x + 12+x = 180\\\\3x + 12 = 180\\\\3x = 180 - 12\\\\3x = 168\\\\x = 56$

Therefore, first angle is:

$\rightarrow 6 + \frac{56}{2} = 6 + 28 = 34$

Thus measure of first angle is 34 degrees and measure of second angle is 56 degrees

6 0

3 years ago

Briony invests some money. Interest is paid on the money at a rate of 2% per annum for the first year and 1% per annum for the s

nalin [4]

Answer:

Brionny invested £8400.

Step-by-step explanation:

Simple Interest

This is a simple interest problem.

The simple interest formula is given by:

$E = P*I*t$

In which E is the amount of interest earned, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.

After t years, the total amount of money is:

$T = E + P$

In this question:

We divide in two intervals, the first year and the second year. We have to know that the amount after the end of the first year is the principal at the start of the second year.

First year:

Amount of 2% interest, during 1 year.

So the interest earned is:

$E = P*I*t = P*0.02*1 = 0.02P$

The total amount at the end of the first year is:

$T = E + P = 0.02P + P = 1.02P$

Second year:

We have that:

$P = 1.02P$

The interest earned is of:

$E = P*I*t = 1.02P*0.01*1 = 0.0102P$

The total amount is:

$T = E + P = 0.0102P + 1.02P = 1.0302P$

After two years, the investment is worth £8653.68 How much did Briony invest?

$1.0302P = 8653.68$

$P = \frac{8653.68}{1.0302}$

$P = 8400$

Brionny invested £8400.

3 0

3 years ago

What’s 1.2983 rounded to the nearest hundredth

KengaRu [80]

1.30 :)
All you have to do is see if the number on your left is greater than 5 or not if it’s is round up 1 if not it stays the same !
Hope this helped !!!

3 0

3 years ago