Peter works in the shipping department of a toy manufacturer. Toy cars weigh 10 pounds apiece and are shipped in a container tha
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The amount which Brandon have saved in interest by consolidating the two balances on the card with the lower interest rate is $256.12.
<h3>What is monthly payment?</h3>Monthly payment is the payment which has to paid against the loan amount or the borrowed money calculated with interest rate.
It can be calculated with the following formula.
Here, (<em>P</em>) is the principal amount, (<em>r</em>) is the interest rate and (<em>t</em>) is time.
Brandon has two credit cards and would like to consolidate the two balances into one balance on the card with the lower interest rate.
The table below shows the information about the two credit cards Brandon currently uses.
- Cards Amount APR Monthly Payment
- Card a $1,463.82 13% $24.60
- Card b $1,157.98 17% $22.14
Interest rate for the card a is,
The time period is 8 years and there are 12 months in one year. Thus, the monthly payment of card A will be,
In the 8 years, there is total 96 monthly payments. Thus, the total payment by card A is,
For the card B the monthly payment is $22.14. Thus the total payment by card B is,
The difference in the payment is,
Hence, the amount which Brandon have saved in interest by consolidating the two balances on the card with the lower interest rate is $256.12.
Learn more about the monthly payment here;
Answer:
The total number of units produced is 6 .
Step-by-step explanation:
Given as :
The earning of worker at the factory = $ 12 per hour + $ 2.50 each unit per hour
The total earning of worker per hour = $ 27
Let The total number of unit produced = x
According to question
The wage worker earn per hour + earning × per unit produced that hour = Total earning of worker per hour
Or, $ 12 per hour + $ 2.50 each unit per hour × x = $ 27
Or, $ 2.50 each unit per hour × x = $ 27 - $ 12
Or, $ 2.50 each unit per hour × x = $ 15
∴ x =
Or, x = 6
Hence The total number of units produced is 6 . Answer