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rewona [7]
4 years ago
8

In dire need of help with APR and APY! Please Help!

Mathematics
1 answer:
Sedbober [7]4 years ago
6 0
<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}--><span>For example, a credit card company might charge 1% interest each month; therefore, the APR would equal 12% (1% x 12 months = 12%). This differs from APY, which takes into account compound interest. The APY for a 1% rate of interest compounded monthly would be 12.68% [(1 + 0.01)^12 – 1= 12.68%] a year. If you only carry a balance on your credit card for one month's period you will be charged the equivalent yearly rate of 12%. However, if you carry that balance for the year, your effective interest rate becomes 12.68% as a result of compounding each month.</span>
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Answer: v ≥ 6

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Step-by-step explanation:

First, we know that he gets 20 points just for signing up, so he starts with 20 points.

Now, if he makes v visits, knowing that he gets 2.5 points per visit, he will have a total of:

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Now we can solve this for v, so we need to isolate v in one side of the equation:

2.5*v ≥ 35 - 20 = 15

2.5*v ≥ 15

v ≥ 15/2.5 = 6

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No

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