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nalin [4]
3 years ago
10

Herman Opened a credit card at a department store with an APR of 24.45% compounded semiannually. What is the APY on his credit c

ard?
A) 48.90%
B) 12.13%
C) 33.63%
D) 25.94%
Mathematics
1 answer:
mash [69]3 years ago
5 0
Semiannually means two. 
so add 24.45 + 24.45
the answer would be A) 48.90%
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Answer:

x = \displaystyle \frac{5 + \sqrt{17}}{2}.

Step-by-step explanation:

Because 3\, x is found in the input to a logarithm function in the original equation, it must be true that 3\, x > 0. Therefore, x > 0.

Similarly, because (x - 4) and (2\, x - 1) are two other inputs to the logarithm function in the original equation, they should also be positive. Therefore, x > 4.

Let a and b represent two positive numbers (that is: a > 0 and b > 0.) The following are two properties of logarithm:

\displaystyle \ln (a) + \ln(b) = \ln\left(a \cdot b\right).

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Left-hand side of this equation:

\begin{aligned}&\ln(3\, x) - \ln(x - 4)= \ln\left(\frac{3\, x}{x -4}\right)\end{aligned}

Right-hand side of this equation:

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Equate these two expressions:

\begin{aligned}\ln\left(\frac{3\, x}{x -4}\right) = \ln(3(2\, x - 1))\end{aligned}.

The natural logarithm function \ln is one-to-one for all positive inputs. Therefore, for the equality \begin{aligned}\ln\left(\frac{3\, x}{x -4}\right) = \ln(3(2\, x - 1))\end{aligned} to hold, the two inputs to the logarithm function have to be equal and positive. That is:

\displaystyle \frac{3\ x}{x - 4} = 3\, (2\, x - 1).

Simplify and solve this equation for x:

x^2 - 5\, x + 2 = 0.

There are two real (but not rational) solutions to this quadratic equation: \displaystyle \frac{5 + \sqrt{17}}{2} and \displaystyle \frac{5 - \sqrt{17}}{2}.

However, the second solution, \displaystyle \frac{5 - \sqrt{17}}{2}, is not suitable. The reason is that if x = \displaystyle \frac{5 - \sqrt{17}}{2}, then (x - 4), one of the inputs to the logarithm function in the original equation, would be smaller than zero. That is not acceptable because the inputs to logarithm functions should be greater than zero.

The only solution that satisfies the requirements would be \displaystyle \frac{5 + \sqrt{17}}{2}.

Therefore, x = \displaystyle \frac{5 + \sqrt{17}}{2}.

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