Assume the monthly interest rate is 1/12 of the annual interest rate . you maintain an average balance of $450 on your credit ca
1 answer:
Answer:
The monthly interest payment would be $ 9
Step-by-step explanation:
Given,
The average balance of the credit card = $ 450,
Annual rate of interest = 24%,
∵ Monthly interest rate is 1/12 of the annual interest rate,
Thus, the monthly interest rate =
Hence, the monthly interest payment = 2% of credit card balance
= 2% of 450
= $ 9
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Using this ratio (3.9x10³³/ second) we can use the porpotions to calculate time taken (T) to produce 1.55x10⁷.
Then isolate T and find the time
Thus it took 3.97x10³ seconds for 1.55x10⁷. of ergs to be produced
Hope that helped and if it did, a Brainliest rating would be much appreciated