Answer:
A. $7.17
Step-by-step explanation:
We have been given that a mechanic uses his credit card to pay for a compressor that costs $477.95 and does not pay on it until the second month.
We will use compound interest formula to solve our given problem.
where,
A = Final amount after T years,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Periods of compounding,
T = Time in years.
Let us multiply our given rate by 12 to get APR and convert it in decimal form.
![APR=12\times 1.5\%](https://tex.z-dn.net/?f=APR%3D12%5Ctimes%201.5%5C%25)
![APR=18\%](https://tex.z-dn.net/?f=APR%3D18%5C%25)
![18\%=\frac{18}{100}=0.18](https://tex.z-dn.net/?f=18%5C%25%3D%5Cfrac%7B18%7D%7B100%7D%3D0.18)
Since 1 year equals 12 months, so 1 month will be 1/12 year.
Upon substituting our given values in above formula we will get,
![A=477.95(1+\frac{0.18}{12})^{12\times\frac{1}{12}}](https://tex.z-dn.net/?f=A%3D477.95%281%2B%5Cfrac%7B0.18%7D%7B12%7D%29%5E%7B12%5Ctimes%5Cfrac%7B1%7D%7B12%7D%7D)
![A=477.95(1+0.015)^{1}](https://tex.z-dn.net/?f=A%3D477.95%281%2B0.015%29%5E%7B1%7D)
![A=477.95(1.015)](https://tex.z-dn.net/?f=A%3D477.95%281.015%29)
![A=485.11925](https://tex.z-dn.net/?f=A%3D485.11925)
Now let us subtract principal amount from the final amount to get the monthly interest charge at the end of 1st month.
![\text{The monthly interest charge be at the end of the first month}=485.11925-477.95](https://tex.z-dn.net/?f=%5Ctext%7BThe%20monthly%20interest%20charge%20be%20at%20the%20end%20of%20the%20first%20month%7D%3D485.11925-477.95)
![\text{The monthly interest charge be at the end of the first month}=7.16925\approx 7.17](https://tex.z-dn.net/?f=%5Ctext%7BThe%20monthly%20interest%20charge%20be%20at%20the%20end%20of%20the%20first%20month%7D%3D7.16925%5Capprox%207.17)
Therefore, the monthly interest charge be at the end of the first month will be $7.17 and option A is the correct choice.
Since the area is 120 ft^2, and we know the length of the room is 15 ft, we can calculate the width.
120/15 = 8
To find the perimeter, we use the following formula
2l + 2w = P
2 (15) + 2 (8) = 46 ft
Let s and g represents the numbers of suits and gowns produced.
The number of zippers used is 2s+g.
The number of buttons used is 5s+8g.
In order to use all of the available zippers and buttons, we must have ...
- 2s + g = 171
- 5s + 8g = 576
Cramer's rule tells you the solution to the system
Is given by
- x = (bf-ey)/(bd-ea)
- y = (cd-fa)/(bd-ea)
Using this rule on the equations for zippers and buttons, we have
... s = (1·576 -8·171)/(1·5 -8·2) = -792/-11 = 72
... g = (171·5 -2·576)/-11 = -297/-11 = 27
72 suits and 27 gowns can be made from available zippers and buttons.
Answer:
021110321....1.12...1.1.631.6301
Step-by-step explanation: