Month 1:
Balance Before Interest Is Added: 1789.17 (This is your initial balance)
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Calculate Interest:
I = Prt
I = 1789.17(0.178)(1/12)
I = 26.539355
I = 26.54
The amount of interest alone for month 1 is 26.54. Add this to the balance 1789.17 to get 1789.17 + 26.54 = 1815.71
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Interest has been calculated and has been added on. This is done BEFORE the payment is made. Now you make the payment of 650
Balance before payment: 1815.71
Make payment: 1815.71 - 650 = 1165.71
Balance after payment: 1165.71
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Month 2:
Balance Before Interest Is Added: 1165.71 (this amount is carried over from last month)
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Calculate Interest:
I = Prt
I = 1165.71(0.178)(1/12)
I = 17.291365
I = 17.29
The amount of interest alone for month 2 is 17.29. Add this to the balance 1165.71 to get 1165.71 + 17.29 = 1183
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Interest has been calculated and has been added on. This is done BEFORE the payment is made. Now you make the payment of 650
Balance before payment: 1183
Make payment: 1183 - 650 = 533
Balance after payment: 533
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Month 3:
Balance Before Interest Is Added: 533 (this amount is carried over from last month)
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Calculate Interest:
I = Prt
I = 533(0.178)(1/12)
I = 7.90616666666667
I = 7.91
The amount of interest alone for month 3 is 7.91. Add this to the balance 533 to get 533 + 7.91 = 540.91
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Interest has been calculated and has been added on. This is done before the payment is made. Now you make the payment of 540.91
Old Balance (before payment): 540.91
Make payment: 540.91 - 540.91 = 0
Balance after payment: 0
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The balance is now 0, so you are done. This is assuming that NO additional charges are made to the card.
Here's a summary of what we know and what we figured out (or calculated):
What we know:
Initial Debt (or Initial Balance): 1789.17
APR: 17.8%
Monthly Payments = $650 a month (except for possibly the last payment)
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What we just found out:
There are 3 payments made total and those payments are: 650, 650, 540.91
Total Cost: 650 + 650 + 540.91 = 1840.91
Total Cost: 1840.91
Answer:
slope:3/5
Step-by-step explanation:
Answer:
32
Step-by-step explanation:
With the ratio 8:4 we can assign variables.
8x+4x=96
12x=96
x=8
Subsitute to ratio: 8x:4x
64:32
32 orange packages
Hope this helps
Answer:
The mod-point is (-4,-4)
Step-by-step explanation:
By using mid-point formula
M(x,y)=(x1+x2)/2 ,(y1+y2)/2
putting the values of the coordinates
M(x,y)=(0+-8)/2 ,(-8+0)/2
M(x,y)=-8/2 , -8/2
M(x,y)=(-4,-4)
So the mid-point is (-4.-4)
I hope this will help you :)
Answer:
15000 - 750x
Step-by-step explanation:
Holly is trying to save $25, 000 to put a down payment on a condominium. She started with $10,000 and saved an additional $750 each month.
Let
y = dollars
x = number of months
Since she started her savings with $10, 000 her remaining amount to pay will be 25000 - 10000 = $15000 .
The amount will also be reducing by $750 per month
Therefore,
How far she is from her goal can be represented with the equation
15000 - 750x