if one customer shows up, and she buys one song, that's $1.29, if she doesn't buy anymore, then that's the charge.
the first song is always at a full price, and after that, to encourage buying, the next ones are just 99 cents, let's see how it goes after a few songs purchases.
1 song.........................$1.29
2 songs.......................$1.29 + 0.99(2)
3 songs.......................$1.29 + 0.99(3)
4 songs.......................$1.29 + 0.99(4)
c songs.......................$1.29 + 0.99(c)
s(c) = 1.29 + 0.99c.
Answer:
the answer depends on which type of interest we use:
- simple interest rate = 24%
- compound interest rate = 26.82%
Step-by-step explanation:
the interest rate paid for holding the cards one month 1/50 or 2%.
to convert 2% monthly interest rate to a simple annual rate:
monthly rate x 12 months = 2% x 12 = 24%
now to convert 2% monthly interest rate to an annual rate (using compound interest):
- = (1 + r)ⁿ - 1
- = (1 + 0.02)¹² - 1 = 1.2682 - 1 = 0.2682 or 26.82%
in compound interest, earned interest earns even more interest by itself besides the interest earned by the principal.
5 is the answer. hope this helped!
By the table, it seems to be that f = 1/2x
