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.
It is imperative to educate children and teenagers so that they can assist in dealing with their current trauma and preventing future conflicts.
Students living in conflict zones often have to deal with traumatizing experiences, dislocated families, loss, as well as the associated emotions of anger and fear that accompany these experiences. Trauma not only affects students psychologically and neurobiologically, but associated emotions may also cause conflict as they enter adult society. It is necessary for a country and its citizens to heal in order to move forward. Providing psychosocial support, social networks, and life skills to recovering from trauma is key to preventing its repercussions in the future.
Answer:The government is responsible for making decisions about how the country is run, including setting a policy agenda, proposing new laws and putting laws into action. The government plays an important role in shaping our society and making sure that Australians have the services and safeguards we need. Governments provide the parameters for everyday behavior for citizens, protect them from outside interference, and often provide for their well-being and happiness. In the last few centuries, some economists and thinkers have advocated government control over some aspects of the economy.
