If the apr on a credit card is 22.2% what is the monthly interest rate
2 answers:
Solution:
APR =Annual Percentage rate
It is the amount of money charged as interest on a sum that you borrow from bank.The interest can be paid monthly or annualy. If you pay the balance at the end of each month that you have borrowed from credit card ,there is no need to pay interest.To find the monthly interest rate , we just divide the value of APR by 12 .
As Yearly interest rate i.e APR on credit card = 22 .2 %
Then , Monthly interest rate = %
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Answer:
2.16
Step-by-step explanation:
The question is on mean absolute deviation
The general formula ,
Mean deviation = sum║x-μ║/N where x is the each individual value, μ is the mean and N is number of values
<u>Team 1</u>
Finding the mean ;
Points Absolute Deviation from mean
51 2
47 2
35 14
48 1
64 15
<u>Sum </u> 34
Absolute mean deviation = 34/5= 6.8
<u>Team 2</u>
Finding the mean
Points Absolute deviation from the mean
27 15.8
55 12.2
53 10.2
38 4.8
41 1.8
<u>Sum 44.8 </u>
Absolute deviation from the mean = 44.8/5 =8.96
Solution
Difference in mean absolute deviation of the two teams = 8.96-6.8 = 2.16
Answer:
6
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