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%.
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Answer:
Step-by-step explanation:
√(-100)
Use the imaginary number rule
√(-1) × √(100)
i × √(10²)
i × 10
= 10i
Ms. Drake will earn in this time from the investment of
at a simple interest with rate of interest
Simple interest is a way to figure out how much interest will be charged on a sum of money at a specific rate and for a specific duration of time. Conversely, for compound interest, where we add the interest of one year's principal to the next year's principal to compute interest, the principal amount under simple interest remains constant.
Formula for finding simple interest is
Given principal of Ms. Drake is
Rate of interest is
Time is years.
Interest
Therefore, Ms. Drake will earn in this time.
To learn more about simple interest from the given link
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