Apply limit as x->0
Jack's credit card has a 20% APR. Find the periodic interest rate from June 3
1 answer:
Answer:
B. 1.67%
Step-by-step explanation:
The periodic rate is the annual interest rate divided by the number of periods.
- The period from June 3 to July 2 is a Month.
- There are 12 Months in a Year
Therefore, we divide the annual interest rate by 12.
Therefore, the periodic interest rate for Jack's credit card from June 3
to July 2 is 1.67%.
You might be interested in
Apply limit as x->0
We can write the sequence out more fully, as we can see each time it is divided by 6.
60, 60/6, 60/6^2, 60/6^3, and so on.
Therefore we know the sequence can be written as
You can think of this as a graph, i.e. y=60/6^(x-1)
As a result, as x tends to infinity, y tends to 0 (since it effectively becomes 60/infinity). Therefore the sequence converges toward zero.
60, 60/6, 60/6^2, 60/6^3, and so on.
Therefore we know the sequence can be written as
You can think of this as a graph, i.e. y=60/6^(x-1)
As a result, as x tends to infinity, y tends to 0 (since it effectively becomes 60/infinity). Therefore the sequence converges toward zero.