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vlabodo [156]
3 years ago
13

Your credit card has a credit limit of $1,000. Your credit card company reviews your credit line every 6 months. They will not i

ncrease your credit line more than 10% each 6-month period. Assuming they increase your limit each 6-month period by 10%, how long will it take to increase your limit to $1,600?
Business
1 answer:
Mice21 [21]3 years ago
4 0

Answer:

2 years and 6 months

Explanation:

after 6months

     $1,000 x 10% = $100

     $1,000 + $100 = $1,100

after 1 year

     $1,100 x 10% = $110

     $1,100 + $110 = $1,210

after 1 year and 6 months

     $1,210 x 10% = $121

     $1,210 + $121 = $1,331

after 2 years

     $1,331 x 10% = $133.10

     $1,331 + $133.10 = $1,464.10

after 2 years and 6 months

     $1,464.10 x 10% = $146.41

     $1,464.10 + $146.41 = $1,610.51

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Last year, 46% of business owners gave a holiday gift to their employees. A
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p_v =P(Z<-3.263)= 0.000551

Explanation:

a. 25% of 60 businesses surveyed=

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b. See attached image for solution

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