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WINSTONCH [101]
3 years ago
13

Alexis buys groceries using her credit card her card has an APR of 19.99% and she must pay at least 5% of the balance at the end

of each month for carryover balance for groceries is $398.97 what would her finance charge be at the end of the month
Mathematics
1 answer:
avanturin [10]3 years ago
7 0

Answer:

The answer is that she would pay $65.56 in finance charges at the end of the month.

Step-by-step explanation:

Given: APR = 19.99%

Carry Over Balance: $398.97

The APR or Annual Percentage Rate, is calculated daily. You will need to get the daily periodic rate, or DPR, so divide the APR by 365:

19.99% = .1999

.1999 / 365 = .005477 (This is the Approximate DPR, rounded up to .005477)

To get the finance charge, multiply the average daily balance by the DPR and then by 30 days:

398.97 * .005477 * 30 = $65.56 finance charge for this carry over balance, at the end of the month. This assumes that the balance is the average daily balance.

Hope this helps!!  Have a great day!

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$10,000 is compounded semiannually at 12% interest for t years. what expression represents the amount of money after t years?
kari74 [83]
To solve this, you can do the is over of equals to % over hundred.
is         %
__ = ____
of      100
10,000      12
_____ = ____
    t           100
1,000,000=12t
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i hope this helps!
3 0
3 years ago
Decide which project the most profitable is by:
Doss [256]

Answer:

Project A :

NPV : $703,888.64

IRR : 44.882%

Project B:

NPV : $5,241.26

IRR : 49.662%

Project B is more profitable

Step-by-step explanation:

The NPV gives the difference between the present value of cash inflow and cash outflow over a certain period of time.

The Internal rate of return is the discount rate which makes the NPV of an investment 0. It is used to estimate the potential return on an investment. Investments with higher IRR are said to be better than those with lower IRR value.

Using the net present value, (NPV) Calculator, the NPV for project A is : $703,888.64

The IRR of project A is : 44.882%

The NPV for Project B is : $5,241.26

The Internal rate of return (IRR) : 49.662%

From the Internal rate of return value obtained, we can conclude that, project B is more profitable as it has a higher IRR than project A.

8 0
3 years ago
HELP ASAP I DONT HAVE TIME IT ALSO DETECTS IF ITS RIGHT OR WRONG
storchak [24]

Answer:

9/2*1/6=0.75

Step-by-step explanation:

hope this helped!!!!

5 0
3 years ago
A cube has a surface area of 864 square inches.
slamgirl [31]
The answer is (D) or 1728 In³
6 0
4 years ago
Read 2 more answers
A farmer wants to use 200 feet of fencing for a chicken pen. He wants the width of the pen to be 20 feet. What is the length of
Aneli [31]
The length should be 80 feet.

This is because the width is 20, since there are two sides for the width in a pen, we have to add 20+20. This would equal 40. Then we need to subtract 40 from 200. 200-40 would be 160. Then since there are two sides for the length, we need to split that in half. 160÷2 would be 80. To double check, you can do 80+80 and that would still be 160. So the length of one side would be 80. But of course, this whole thing would only be right if the pen has four sides(but since i have seen many chicken pens, there were all rectangular). I hope this helped! :)
7 0
3 years ago
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