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Alexandra [31]
3 years ago
14

I will give brain to the person with the right answer.

Mathematics
2 answers:
Tanzania [10]3 years ago
7 0
Here is that step by step answer :)

Andrei [34K]3 years ago
6 0

Answer:

Step-by-step explanation:

You might be interested in
How long does it take to pay off the higher-interest card?
madreJ [45]

1. It takes 5 months to pay off the higher-interest card first.

2. The amount of the last payment on the higher-interest card is $232.89.  It is the balance plus interest in the fifth month.

3. After paying down the debt on the lower-interest card in the 5th month, the balance of the lower-interest card is $338.77.  

The principal has been reduced.  The interest is worked on the reduced principal.

4. If the lower-interest card is paid off first, while the interest on the higher-interest card is paid, the tables would look like the following:

<h3>Higher-Interest Card:</h3>

Month                          1            2             3              4               5        6        7

Principal                1,311.48   1,311.48  1,297.73 1,028.80 732.71   406.71 47.79

Interest accrued    132.46    132.46      131.07    103.91   74.00     41.08  4.83

Payment                132.46    146.21    400.00   400.00 400.00  400.00  52.62

Ending balance   1,311.48  1,297.73 1,028.80    732.71  406.71     47.79    0

<h3>Lower-Interest Card:</h3>

Month                        1              2               3               4              5             6  

Principal                475.00   238.34         0            0         0          0    

Interest accrued     30.88      15.49         0            

Payment               267.54    253.79         0              

Ending balance   238.34        0                0   0  

5. The savings by paying off the higher-interest card first is $91.86.  This is the difference in interest by choosing to pay off the higher-interest card first before the lower-interest card.

<h3>Data and Calculations:</h3>

Higher-Interest Card:

Month                                     1          2                 3           4               5        6  

Principal                        1,311.48    1074.82    814.26    527.38     211.53      

Interest accrued            132.46      108.56     82.24      53.27       21.36      

Payment (on due date) 369.12      369.12    369.12     369.12   232.89      

Ending balance          1,074.82      814.26   527.38      211.53       0      

Lower-Interest Card:

Month                        1              2               3               4              5             6  

Principal                475.00   475.00     475.00     475.00   475.00     338.77    

Interest accrued     30.88     30.88       30.88       30.88     30.88       22.02    

Payment                  30.88    30.88        30.88       30.88     167.11     360.79  

Ending balance    475.00  475.00     475.00     475.00   338.77         0  

Total interest incurred under each method:

Higher-interests:

1st method: 132.46    132.46      131.07    103.91   74.00     41.08  4.83 = $619.81

2nd method:  132.46      108.56     82.24      53.27       21.36    = $397.89

Lower-interests:

1st method:  30.88      15.49         0       $46.37

2nd method: 30.88     30.88       30.88       30.88     30.88       22.02 $176.43

$619.81 + $46.37 = $666.18

$397.89 + $176.43 = $574.32

Difference = $91.86

<h3>Question completion:</h3>

Card Name    (APR %)    Existing Balance     Credit Limit

MarK2             (6.5%)             $475.00             $3,000.00

Bee4               (10.1%)             $1,311.48            $2,500.00

You have $400.00 each month to payoff these 2 credit cards. You decide to pay only the interest on the lowest interest card and the remaining amount to the other card.

Learn more about interests on credit cards at brainly.com/question/4403314

3 0
2 years ago
Solve using the substitution method. Y+2x=7 14-4x=2y
gizmo_the_mogwai [7]
Hello

14-4x=2y   divide 2 to both sides VVVVV7-2x=y    you will need this on the next step-----------------------------------------------------y+2x=7y=7-2x(7-2x)+2x=7 ------->  7-2x+2x=7                               7=7Have a nice day
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3 years ago
Jackson Middle School has 4 students in choir for every 1 student in band. If there are 48 students in band, how many students a
olchik [2.2K]
I believe it is 192 because 48*4 is 192
4 0
3 years ago
NEED HELP FAST 15 POINTS
Flauer [41]

Answer:Can somebody please help

Step-by-step explanation:

6 0
3 years ago
Read 2 more answers
What’s the slope intercept form of (2,5) and (0,1)
Travka [436]

Answer:

y=2x+1

Step-by-step explanation:

First you have to find the slope:

5-1/2 so 4/2 or 2

Then you write it in point-slope: (I used the point (0,1))

y-1=2x

Simplify than:

y=2x+1

8 0
3 years ago
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