Oakley charged $795 to his credit card last month. What is the first minimum payment he must make? (2 points)$25.00
1 answer:
Answer:
$31.80
Step-by-step explanation:
<u><em>The complete question is</em></u>
Use the details of Oakley's new credit card to answer the question that follows. APR 11.9% compounded monthly Grace Period 28 days Minimum Payment 4% of the remaining balance or $25, whichever is higher Oakley charged $795 to his credit card last month. What is the first minimum payment he must make?
step 1
Find out the 4% of the balance of $795
so
This amount is higher than $25,
therefore
The first minimum payment he must make is $31.80
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Answer:
1) The slope of the function is
and the slope of the function
is
.
2) The negative slope of the function shows that it is the line is increasing and the slope
of the function
shows that the line will always have the same y-coordinate.
3) The slope of the function is is greater than the slope of the function
.
Step-by-step explanation:
For this exercise you need to know that the slope of any horizontal line is zero ()
The slope of a line can be found with the following formula:
You can observe in the graph of the function given in the exercise, that this is an horizontal line. Then, you can conclude that its slope is:
The steps to find the slope of the function shown in the table attached, are the following:
- Choose two points, from the table:
and
- You can say that:
- Substitute values into the formula :
- Finally, evaluating, you get:
Therefore:
1) The slope of the function is
and the slope of the function
is
.
2) The negative slope of the function shows that it is the line is increasing and the slope
of the function
shows that the line will always have the same y-coordinate.
3) The slope of the function is is greater than the slope of the function
.