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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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Josie deposited $450 at the beginning of the month. A payment of $35.20 is automatically deducted each month for her gym members
Alinara [238K]

Answer:

You have told us that there is $450 in Josie's bank account, and she does not make any later deposits or withdraws. You have also told us that the gym deducts $35.20 every one month in fees.

Explanation:

The answer is really easy to find. All you have to do is subtract 35.20 from 450. The problem asks for the amount of money that Josie has in her account at the end of the month - the same month that she put $450 into her account.

Solve:

450 - 35.20

= 414.80

Josie has $414.80 in her bank account at the end of the month.

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12(x-20)=-48 what is x
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Answer:

x = 16

Step-by-step explanation:

12(x - 20) = -48

Use distributive property

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