Answer:
2
Step-by-step explanation:
The common ratio of the sequence is 2 because between each term you are multiplying by 2 to get the next term
Answer:
<u>If the amount is P, with the interest rate of 12%, the interest over the year is:</u>
<u>In this case the quarterly interest rate is:</u>
<u>With the same amount and 3% quarterly rate, the yearly interest would be:</u>
<u>The quarterly interest rate in this case is:</u>
If the quarterly interest rate is r, it should be little less than 3% to yield a 12% yearly rate.
So Kraig is wrong.
Answer:
The number is 12.
Step-by-step explanation:
Given: 
We need to find a number multiply to each term to get rid of fraction.
We will find LCD of denominator.
First we see the numbers at denominator
Denominators are 4,3,2
Now, we will find the LCD of 2,3, and 4
Factor of 2: 2x1
Factor of 3: 3x1
Factor of 4: 2x2x1
LCD = 2x2x3 = 12
If we multiply by 12 to each term to eliminate the fraction.
Simplest equation:
Hence, The number is 12.
Answer:
Monthly payment would be $99.01
Total repayment would be $5,940.30
Interest payed would be $940.30
Step-by-step explanation:
Answer: The amount that Kristen would owe three months from now is $67.5
Step-by-step explanation:
The formula for determining simple interest is expressed as
I = PRT/100
Where
I represents interest paid on the loan.
P represents the principal or the current balance.
R represents interest rate
T represents the duration for which the account is overdue in years.
From the information given,
P = 1500
R = 18%
T = 3 months = 3/12 = 0.25 year
I = (1500 × 18 × 0.25)/100 = $67.5
