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jeyben [28]
3 years ago
10

Chris made a $6925 purchase on his credit card that has an annual interest rate of 18% that compounds continuously. If he does n

ot make a payment for three years, how much does he owe at the end of the three years?
Business
1 answer:
stealth61 [152]3 years ago
6 0

Answer:

$11,883.35

Explanation:

The formula for calculating continuous compounding is given below

F=p*e^it

In this question:

F=future value of the amount borrowed today=?

p=amount borrowed today/Purchases made by chris through credit card=$6,925

e=mathematical constant=2.7183

i=interest per annum=18% per annum

t=number of years=3 in this case

F=6,925*e^18%*3

F=$11,883.35

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Nico is saving money for his college education. He invests some money at 99​%, and ​$17001700 less than that amount at 4 %.4%. T
Rufina [12.5K]

Answer:

Nico invest $2500 at 9% interest rate and $800 at 4% interest rate.

Explanation:

He invests some money at 9​%, and ​$1700 less than that amount at 4 %.

Let Nico invest $x at 9%.

It means he invest $( x-1700) at 4%.

The investments produced a total of ​$257 interest in 1 yr.

x\times \frac{9}{100}+(x-1700)\times \frac{4}{100}=257

0.09x+(x-1700)0.04=257

0.09x+0.04x-68=257

0.13x-68=257

Add 68 on both sides.

0.13x=257+68

0.13x=325

Divide both sides by 0.13.

x=2500

Nico invest $2500 at 9% interest rate.

x-1700=2500-1700=800

Nico invest $800 at 4% interest rate.

Therefore Nico invest $2500 at 9% interest rate and $800 at 4% interest rate.

5 0
3 years ago
Nina, a manager, is considering reducing the workforce to cut down on costs. She realizes that this decision will have a huge im
Pani-rosa [81]

Answer:

The correct answer is: Moral awareness.

Explanation:

Moral awareness refers to the set of actions individuals take driven by values and beliefs that drive them not to only think about themselves but also in the consequences on others. In business, companies need to consider what the impact of their actions is with their surrounding environment and their inner circle -employees.

7 0
3 years ago
Can someone buy me an iphone... i rlly need it (IT DOESNT MATTER WHICH KIND OF IPHONE !!!!!!!)
jok3333 [9.3K]

Answer:

I cant

Explanation:

IM A KID I WANT ONE TOOOOO!!!!

5 0
2 years ago
Read 2 more answers
____ materials are materials that are no longer serviceable, have been discarded, or are a by-product of the production process.
alexgriva [62]

Answer:

Scrap

Explanation:

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Hence, the correct option is scrap

And all other options are wrong and incorrect

4 0
3 years ago
To spur trade, four South American countries decide there will be no barriers to trade between the countries, agree on a common
Dmitriy789 [7]

Answer:

A free trade area

Explanation:

A free trade area comes to existence when two or more countries sign an agreement that eliminates or reduces trade barriers among themselves. Usually, nations in the same region sign a free trade agreement that encourages economic cooperation.  In a free-trade area, goods and services can move from one country to another with minimal or no government interference in terms of tariffs, embargo, quotas, or other prohibitions.

The four South American countries have formed a free trade area. They have agreed to economic cooperation that allows free flow of trade among the nations. The countries have established a trading block that will spur economic growth in each of them.

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