All categories

3 years ago

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

Mathematics

1 answer:

Aleks04 [339]3 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

You might be interested in

Pls help am failing <br> Hehehehgshdhdjsjbsvdv

ludmilkaskok [199]

Answer:

should be B

Step-by-step explanation:

7 0

3 years ago

Castel and Gabriella are selling pies for a school fundraiser. Customers can buy apple pies and lemon meringue pies. Castel sold

dmitriy555 [2]

One lemon meringue is $14 One apple pie is $4

5 0

3 years ago

Bruh can someone answer this I’ll give brainliest

3241004551 [841]

It’s a ! you add both of the numbers to get your missing perimeter.
I’m very sorry if it’s wrong but this is what I believe! stay safe

4 0

3 years ago

Z1 =3+4i and z2=4+3i then what is the relation of z1 and z2?

harkovskaia [24]

Answer:

ANSWER

=3+4i

=−4+3i

z=z

∴z=(3+4i)+(−4+3i)

∴z=(−1+7i)

∴∣z∣=5

Step-by-step explanation:

5 0

3 years ago

Read 2 more answers

In your university nursing program the ratio of students who scored a grade of A vs B vs C on the final exam is 12:29:9. Assumin

Scilla [17]

Answer:

Hence, the correct option is 82%.

Step-by-step explanation:

Consider the provided information.

In your university nursing program the ratio of students who scored a grade of A vs B vs C on the final exam is 12:29:9.

We need to find the percentage of student who scored a grade of "B" or higher.

Let x is the common factor for the proportion.

Then, the number of students who got grade A is 12x

The number of students who got grade B is 29x

The number of students who got grade C is 9x.

Thus the total number of students = 12x+29x+9x = 50x

The percentage of student who scored a grade of "B" or higher:

12x+29x = 41x

$\frac{41x}{50x}\times{100}=82\%$

Hence, the correct option is 82%.

8 0

3 years ago