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.
The economy of the State of New York is reflected in its gross state product in 2018 of $1.7 trillion, ranking third in size behind the larger U.S. states of California and Texas. If New York State were an independent nation, it would rank as the 12th or 13th largest economy in the world, depending upon international currency fluctuations. However, in 2013, the multi-state, New York City-centered Metropolitan Statistical Area produced a gross metropolitan product (GMP) of nearly US$1.39 trillion,[9] while in 2012, the corresponding Combined Statistical Area[10] generated a GMP of over US$1.15 trillion, both ranking first nationally by a wide margin and behind the GDP of only twelve nations and eleven nations, respectively.[11]
Well, uniting against a common enemy has always been a great unifier. Plus, literally fighting for freedom made every person fighting believe very deeply in their cause, and so they could overcome differences with each other for that cause.
Aversion therapy refers to a form of therapy that involves combining an aversive stimulus with a behavior so that the behavior in question can eventually be extinguished. In Marybeth's case, by associating suicidal thoughts with the aversive smell of ammonia, her therapist is aiming to extinguish Marybeth's suicidal thoughts.
