1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
valentina_108 [34]
3 years ago
7

Wilson has a balance of $890 on a credit card with an apr of 18.7%, compounded monthly. about how much will he save in interest

over the course of a year if he transfers his balance to a credit card with an apr of 12.5%, compounded monthly? (assume that wilson will make no payments or new purchases during the year, and ignore any possible late-payment fees.)
a.$117.85
b.$181.46
c.$299.31
d.$63.61
Mathematics
2 answers:
alina1380 [7]3 years ago
7 0
<h2>Answer:</h2>

Option d.$63.61

<h2>Step-by-step explanation:</h2>

We will find the compound interests in both scenarios and then subtract them to find the difference.

<u>Case 1:</u>

p = 890

r = 18.7% or 0.187

n = 12

t = 1

Compound interest formula is :

A=p(1+\frac{r}{n})^{nt}

Putting the above values in formula we get,

A=890(1+\frac{0.187}{12})^{12}

= $ 1071.38

<u>Case 2:</u>

p = 890

r = 12.5% or 0.125

n = 12

t = 1

Putting the above values in formula we get,

A=890(1+\frac{0.125}{12})^{12}

= $1007.83

Now, the difference between both values is = 1071.38-1007.83

=$63.55 this is closest to option D.

Therefore, option D is the answer.

vivado [14]3 years ago
5 0
890×(1+0.187÷12)^(12)−890×(1+0.125÷12)^(12)=63.61....answer
You might be interested in
I would really appreciate the help please
dimulka [17.4K]

Answer:

1 and 2 only

Step-by-step explanation:

mark me as brainliest

6 0
2 years ago
Helen plays basketball. For free throws, she makes the shot 75% of the time. Helen must now attempt two free throws. The probabi
CaHeK987 [17]

Answer: 0.6375

Step-by-step explanation:

Let's assume that the event that she'll make the first shot is given as P(A) while making the second shot is P(B). Therefore, P(A/B) = 0.85

Therefore, the probability that she makes both free throws will be denoted as:

= 0.75 × 0.85

= 0.6375

3 0
3 years ago
8+[5×6]= i need answer asap pls
Karo-lina-s [1.5K]

Answer:

38

Step-by-step explanation:

Follow orders of operations.

Slove the expression in the parenthesis or brackets whatever, same thing.

5*6=30

Now add

30+8=38

5 0
3 years ago
Read 2 more answers
Diego can type 140 in 4 minutes
oksano4ka [1.4K]

Answer:

11 min and 525 words

Step-by-step explanation:

I put 140 words/ 4 mins and simplified it to 35 words /1 min

Doing so i plug in what was given and used cross multiply and divid :D

5 0
3 years ago
Read 2 more answers
Mai is putting money into a savings account. She starts with $450 in the savings account, and each week she adds $40.
enot [183]

Answer:

S = 40w + 450

Step-by-step explanation:

6 0
2 years ago
Read 2 more answers
Other questions:
  • Need help with this question please​
    7·2 answers
  • PQ=6x+25 and QR = 16-3
    5·1 answer
  • Solve the differential equation. <br><br> (dy)/(dx) = 10 sqrt(x)/e^y
    12·2 answers
  • ASAP HELP!!! 100 points!!!!
    12·2 answers
  • How do I solve -6+ 5 1/4
    14·2 answers
  • How many real solutions does the system have?
    15·2 answers
  • Find the sum.express your answer in simplest form
    15·1 answer
  • Helpppp and explain this word problem!!!
    12·1 answer
  • F(x)=4x^2-7x+7 Find f(7)
    8·1 answer
  • ►
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!