Answer:
5.3624785e+55
Step-by-step explanation:
Answer:
Explanation:
<u>1. Calculate the monthly interest owed during year 1</u>
<u />
- <em>Interest for first year: 8%</em>
- The monthly rate is the yearly rate divided by 12: 8% / 12 = 0.08/12
- The monthly interest owed is the monthly rate times the balance: (0.08/12)×$1,800 = $12.00
<u>2. Calculate the monthly interest owed during year 2</u>
<u />
- <em>Interest for second year: 23%</em>
- The montly rate is the yearly rate divided by 12: 23% / 12 = 0.23/12
- The monthly interest owed is the monthly rate times the balance: (0.23/12)×$1,800 = $34.50
<u>3. Calculate the difference</u>
- Difference in the monthly interest owed during year 1 and year 2 = $34.50 - $12.00 = $22.50
Hence, the answer is the option c) $22.50
Answer:
To multiply fractions, all you have to do is multiply the numerators and denominators and simplify the result. To divide fractions, you simply have to flip the numerator and denominator of one of the fractions, multiply the result by the other fraction, and simplify.
Step-by-step explanation: