Jerry has a credit card debt of $15,600 that he would like to reduce by applying $8,500 of his inheritance money to the balance.
In addition, he would like to modify his debt payment plan to pay off the remaining balance in 24 months rather than 60 months. His credit card has an APR of 18%. How much will these changes save Jerry in finance charges (interest)?
First we need to solve the finance charge without the changes. B = A (1 + ti) where t is the number of years, 60 months or 5years i is the interest rate per year, 18% or 0.18 A is the principal amount, %15,600 B is the amount after t years so, B =$15,600 ( 1 + 0.18 x 5 ) B = $15,600 ( 1 + 0.9 ) B= $15,600 (1.9) B= $29,640. The finance charge without the changes is $29,640(amount after 5 years) - $15,600(principal amount) = $14,040.
Applying the changes, the principal amount would be $15,600 - $8,500 = $7,100, the number of years will be 2 years (24 months)in equation B = $7,100 (1 + 0.18 x 2) B = $7,100 (1 + 0.36) B = $7,100 (1.36) B = $9,656, the finance charge with the changes is $9,656 - $7,100 = $2,556.
The changes Jerry made can save $14,040 - $2,556 = $11,484.
this statement would be true providing that both parents were at home caring for their children for equal amounts of time because that would limit gender-stereotyped beliefs as both parents (not just the mother) commits to parenting.
Max weber, also known as the father or founder of sociology, was the first to acknowledge the power and position held by the priests, ministers, rabbis, and other religious figures in different societies, because prior to him the power in sociology was closely related to money and knowledge, he added the importance of this kind of people, or religious authorities into the element of class status.
Perhaps the most significant development of mathematics during the Renaissance was the invention of infinitesimal calculus by Newton and Leibniz, at the end of the 17th century. This refers to the study of change based around limits, differentials and integration.
