Answer:
Previous monthly balance = $654.19
Interest charge = $464.61
Step-by-step explanation:
Given : The table of 7 months. Francisco's credit card has an APR of 28.98%.
To find : What will Francisco be charged for interest for month 8 and calculated on the previous monthly balance.
Solution :
New balance of 7th month is equal to the previous monthly balance. of 8th month.
So, we have to find the new balance of 7 month
New balance = Unpaid balance + finance charge + new transaction
From the table, the 7 month information is
Previous balance = $325.27
payment received = $22.94
Finance charge = $7.86
New charges = $344
Unpaid balance = Previous balance - Payment
= $325.27 - $22.94
Unpaid balance = $302.33
New balance = Unpaid balance + finance charge + new transaction
New balance = $302.33 + $7.86 + $344
New balance = $654.19
Previous monthly balance of 8th months is $654.19
Interest rate of 8th month is 28.98%
Interest for month 8 previous balance is
Answer:
A
Step-by-step explanation:
Graphed below are all 5 graphs. The one in red is the original, but it cannot be seen because it is entirely concealed by the blue graph, or graph A. Since they are the same graph, they must share all characteristics, including a maximum value. Therefore, the correct answer is choice A. Hope this helps!
Answer:
Step-by-step explanation:
To write an equation into slope-intercept form, or y = mx + b format, we need to find the y-intercept of the line and its slope and substitute values for m and b.
1) First, find the y-intercept. The y-intercept is the point at which the line intersects the y-axis. Reading the graph, we can see that the line passes the y-axis at the point (0,2), thus that is the y-intercept.
2) Next, find the slope. Pick out two points on the graph to use for the slope formula, . I chose to work with (0,2) and (6,1). Now, substitute the two points' x and y values into the formula appropriately and solve:
Thus, is the slope.
3) Now, substitute the calculated values into the y = mx + b format. The b represents y-value of the y-intercept. The y-intercept is (0,2), thus substitute 2 for b. The coefficient of the x term, or m, represents the slope, thus substitute for m. This will give the following equation of the line in slope-intercept format: