Because you are not multiplying the number by anything. It's like multiplying 2 x 1.
I hope that made sense ...
I believe that the best answer among the choices provided by the question is II.
Answer:
0.18 meters
Step-by-step explanation:
Answer:
$1,591.67
Step-by-step explanation:
The computation of the balance after 5 years is shown below:
Given that
Accumulated Balance on Credit Card = P = $2,300
r = Monthly interest amount = 17% ÷ 12 = 1.41666667%
M = Minimum payment = 2%
Now
Balance on Credit Card after t year = P × (1+r) ×(1-M)
= $2,300 × (1+1.41666667%)^t × (1 - 2%)^t
= $2,300 × (0.993883337)^t
SO,
Balance on Credit Card after 5 years is
= $2,300 × (0.993883337)^60
= $2,300 × 0.692029437
= $1,591.66771
= $1,591.67
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