The interest Raymond will pay this month is $54.98
What does APR mean?
APR means annual percentage rate, which means that since we are computing monthly interest, the annual rate which is the whole 12 months needs to be divided by 12 to ascertain the equivalent monthly interest rate
monthly interest=21.99%/12
What is the monthly interest amount in dollars?
The monthly interest amount in dollars is determined as the monthly interest rate multiplied by the credit card balance at the end of the month
monthly interest=$3,000*21.99%/12
monthly interest=$54.98
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Answer:
The answer is C. 2/3
Step-by-step explanation:
Answer:
slope= 4,
Step-by-step explanation:
y = 4x-6
The slope of the graph shows the rate of change, or, in this case, the rate of depreciation, which you are told is $100 per year. So, depending upon the units used in your graph, the slope will be 100/1, and since it is a decrease as the years increase, it will have a negative slope, i.e. -100/1.
Or, if you had drawn your graph with units of $100 dollars on the y-axis, then you might say that the slope was -1 / 1.
The corresponding formula would of course be
y = 600 - 100t
where y = value after t years, and (if you are into calculus) differentiating would give you
slope = dy/dt = -100
<span>as noted above.</span>