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kozerog [31]
3 years ago
8

George charged a motorized bicycle on his credit card for $2,000 on June 12. His balance before that purchase on that credit car

d was $500. His credit card company calculates interest using the ADB including new purchases method. The APR on George’s credit card is 15% APR. Hint: the credit card rounded the monthly interest rate up to .013%.
George’s finance charge for this month was $22.97. Please show how to calculate this interest.
Mathematics
1 answer:
Gnesinka [82]3 years ago
3 0
The calculation uses the accumulated daily balance method (ADB).
We assume the statement is based on calendar month (rare!).

George owes $500 from beginning to end of June, so 30 days out of 30.
Interest accrued is 500*0.013*30/30=$6.50.
He also owes $2000 from June 12 to June 30, so 19 days inclusively.
Interest accrued is $2000*.013*(19/30)=16.47
Total interest at the end of the month=$6.50+$16.47=$22.97
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5 0
3 years ago
A retailer was given a trade discount are 15% and cash discount of 6% by the wholesaler. How much did the retailer pay for a goo
wolverine [178]
<h3>Answer: $2992.26</h3>

===================================================

Explanation:

If you're given a 15% discount, then you still have to pay the remaining 85% (because 100% - 15% = 85%)

Rewrite 85% into 0.85

The multiplier for "15% discount" is 0.85

Similarly, the multiplier for a 6% discount is 0.94; note how 100% - 6% = 94% = 0.94

When we have multiple discounts chained together like this we find the product of the multipliers. So we multiply the 0.85 and 0.94 to get

0.85*0.94 = 0.799

After chaining together the two discounts, you will have to pay 79.9% of the original value. This means the overall discount is 20.1%

Take the result of 0.799 and multiply that with the marketed price of $3745 to get the final answer

0.799*3745 = 2,992.255 which rounds to 2,992.26

8 0
2 years ago
Find the linear approximation of the function g(x) = 5 1 + x at a = 0. g(x) ≈ use it to approximate the numbers 5 0.95 and 5 1.1
34kurt

Differentiating the function

... g(x) = 5^(1+x)

we get

... g'(x) = ln(5)·5^(1+x)

Then the linear approximation near x=0 is

... y = g'(0)(x - 0) + g(0)

... y = 5·ln(5)·x + 5

With numbers filled in, this is

... y ≈ 8.047x + 5 . . . . . linear approximation to g(x)

Using this to find approximate values for 5^0.95 and 5^1.1, we can fill in x=-0.05 and x=0.1 to get

... 5^0.95 ≈ 8.047·(-0.05) +5 ≈ 4.598 . . . . approximation to 5^0.95

... 5^1.1 ≈ 8.047·0.1 +5 ≈ 5.805 . . . . approximation to 5^1.1

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2 years ago
Which ratio is equivalent to five nine
salantis [7]

Answer:

30:54

Step-by-step explanation:

5:9 x 6 = 30:54

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Method to use f(x) =-2x-2
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A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

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