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Allushta [10]
3 years ago
12

james has $3000 in credit card debt, which charges 14% interest. how long will it take to pay off the card if he makes the minim

um payment of $60.00 a month?
Mathematics
1 answer:
GREYUIT [131]3 years ago
7 0

Answer:

The answer is approx 75 months.

Step-by-step explanation:

We have P = 3000

r = 14%

Monthly payment = $60

We will use the formula :

[(0.14/12) \times3000] / [1- (1+(0.14/12)^{-12n}]

Solving this we get n = approx 75 months. After 75 months few dollars will be left. And in the 76th month the balance will become negative.

For easy and better understanding, I have attached an excel sheet.

The answer is approx 75 months.

Download xlsx
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22x^2-9x+32

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(21x² - 6x +14) + (x²-3x+18)

To add, we need to combine like terms

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You are at a European beach with 60 other visitors. 36 of them speak English. If you randomly meet two people on the beach, what
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Answer:

Assuming I'm one of the 36 English speakers and the other 24 speak Spanish for illustration purposes.  The problem can be modeled as 59 marbles with 35 E and 24 S marbles as N = 59 possible outcomes = n(E) + n(S) = 35 + 24.

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I assume I remember that first person; so I remove him from the marbles (by avoiding him on the beach) and now my probability is p(E and E) = n(E)/N * n(E)-1/(N - 1) = 35/59*34/58 = 0.347749854 ANS

Following the same logic p(E and E and E) = 35/59*34/58*33/57 = 0.201328863 ANS

This last one is different from the first three.  This one is p(E >= 1|4 attempts).  We can trace out a probability tree to identify those branches that contain at least one E event.  So:

EEEE p() = 35/59 * 34/58 * 33/57 * 32/56 =  

EEES p() = 35/59 * 34/58 * 33/57 * 24/56 =

EESE p() = 35/59 * 34/58 * 24/57 * 33/56 =

ESEE p() = 35/59 * 24/58 * 34/57 * 33/56 =

SEEE p() = 24/59 * 35/58 * 34/57 * 33/56 =

EESS p() = 35/59 * 34/58 * 24/57 * 23/56 =

ESES p() = 35/59 * 24/58 * 34/57 * 23/56 =

SEES

SESE

SSEE

ESSS  And so on, but...a big BUT...why do all this when

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8-2y=3y-2<br> Help me please
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