1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Neko [114]
3 years ago
15

Use the following compound interest formula to complete the problem. 2007-11-01-00-00_files/i0110000.jpg Victor has a credit car

d with an APR of 13.66%, compounded monthly. He currently owes a balance of $1,349.34. Assuming that Victor makes no purchases or payments, how much will he owe after one year, to the nearest cent? a. $1,349.34 b. $1,533.66 c. $1,545.65 d. $1,364.70
Mathematics
2 answers:
stiks02 [169]3 years ago
4 0
A=p (1+r/k)^kt
A=1,349.34×(1+0.1366÷12)^(12×1)
A=1,545.65
Ahat [919]3 years ago
4 0

Answer:

The correct answer is C. $ 1545.65

Step-by-step explanation:

Principle = $ 1349.34

Rate = 13.66 %

t = No. of times the interest is compounded in one year

⇒ t = 12  ( since it is given that the interest is compounded monthly so the interest is compounded 12 times in one year)

n = 1 year

Amount=Principle\cdot (1+\frac{rate}{n})^{n\cdot t}

where n = no. of years and t = No. of times the interest is compounded in one year

\Rightarrow Amount=1349.34\cdot (1+\frac{13.66}{100\cdot 12})^{12\cdot 1}

= 1349.34 × 1.15

= $ 1545.65

So, the correct answer is C



You might be interested in
You are enclosing a rectangular garden with 180 feet of omamental fencing. The area of the garden is 1800 square feet. What are
Brut [27]

Answer:

Step-by-step explanation:

Perimeter is

P = 2L + 2W.  We are given the perimeter as 180 feet, so

180 = 2L + 2W.  Solve this for either L or W.  I chose W, no reason...

180 - 2L = 2W so

90 - L = W  Hold that thought.  We'll come back to it in a minute.

Area is

A = LW.  We are given the area as 1800 square feet, so

1800 = LW.  Sub in 90 - L for W:

1800 = L(90 - L).  Distribute to get a quadratic:

1800=90L-L^2

Get everything on one side and solve for the length by factoring:

-L^2+90L-1800=0

Factor this however you like to factor quadratics, to get the length of

L = 30 and L = 60.  First off, the length is longer than the width in general, so if we want to solve for the width, plug in 60 as L in the equation in bold print:

90 - 60 = W and

30 = W

So L = 60 and W = 30

4 0
3 years ago
Find the area of an equilateral triangle with side lengths of 12cm.
crimeas [40]

Answer:

72

Step-by-step explanation:

To find the area of a equilateral triangle you must multiply the side length's of the triangle and then divide it by 2 because when you multiply the side length's it is giving you the area of a square which is 2x the triangle. That is why you divide.

Answer:72

5 0
3 years ago
An elevator can hold a maximum of 1,500 pounds. Eight people need to use the elevator. Bill had some measures from the data set
alexdok [17]

Answer:

The median, mode, and interquartile range have nothing to do with the total weight.The total weight is the mean, multiplied by the number of people.

Step-by-step explanation:

4 0
3 years ago
Need help with this question please
Artemon [7]

Answer:

5%

Step-by-step explanation:

Explanation in attachment.  Beware of the distraction.

6 0
2 years ago
johns age plus will’s age is equal to 95. john is 11 years older than will. How old are john and will?
Andrei [34K]
42 and 53. If John is 11 years older than will, and then sum is 95, then use numbers that add up to 95. In this case the answer is 42 and 53
7 0
3 years ago
Other questions:
  • Please help mee to figure out who is right
    5·1 answer
  • Given WXYZ what is the measure of Z
    6·1 answer
  • a survey of 1,000 people was done bu the new York times. 80% of the people did not know the name of their representative in Cong
    12·2 answers
  • The amount of liquid shown is 6/7 of the originally in the container . How much liquid was in the container ?
    6·1 answer
  • Factor as the product of two binomials. x^2 + 3x +2
    11·1 answer
  • GEOMETRY HELP PLEASE
    13·1 answer
  • The coordinates (12.6) (12:10) (18.6) and (18.10) will be the comers of the floor for the sound
    6·1 answer
  • In a classroom of 24 students, five-eighths of the students brought their lunch to school. How many of the students in the class
    15·1 answer
  • A. write the equation of the line of best fit
    7·2 answers
  • Please help me with this math problem!! Will give brainliest!! :)
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!