All categories

3 years ago

Acredit card advertises an annual interest rate of 23%.

Mathematics

1 answer:

Zigmanuir [339]3 years ago

4 0

Answer: 1.74%

Step-by-step explanation:

What is the equivalent monthly interest rate?

If 23% is compounded each month, there will be 12 intervals and then the monthly rate is:

23 ÷ 12 = 1.92 %

If 23% is compounded annually, then the monthly rate would be:

Rate = (1 + 23%)⁰°⁸³³ (power is 0.833 or 1/12)

= 1.23⁰°⁸³³ (power is 0.833 or 1/12)

= 1.0174 - 1 x 100

= 1.74 %

You might be interested in

(-4,2) and (5,6) slope=

zhannawk [14.2K]

The slope for those numbers is 4

8 0

4 years ago

Read 2 more answers

CAN SOMEONE HELP ME PLEASE? I’LL GIVE YOU FREE EASY POINTS IF YOU GIVE ME THE RIGHT ANSWER.. NO WRONG ANSWERS PLS!!

Ira Lisetskai [31]

see the attachment..........

3 0

2 years ago

Kế hoạch đi dã ngoại của một gia đình sẽ bị hủy nếu trời có mây hoặc mưa. Biết xác suất để trời có mây là có mưa là có cả mây và

77julia77 [94]

Answer:

itditsktxjtcv6tgcxufh-&#€#€($*:'₹€$*^'ditx_*^,tsitsitxmvditxitsitsjfxkhcoucuofoydoy

5 0

3 years ago

Help plssss I need helpppp

stepan [7]

Answer: 117cm^2

Step-by-step explanation:

Arectangle = L*W

= 54cm^2

Atrapezoid = 1/2 (a+b) (h)

= 1/2 (15+6) (6)

= 1/2 (21) (6)

= 1/2 (126)

= 63cm^2

3 0

3 years ago

Eric wants to estimate the percentage of elementary school children who have a social media account. He surveys 450 elementary s

tigry1 [53]

<h2>Answer with explanation:</h2>

The confidence interval for population mean is given by :-

$\hat{p}\pm z_{\alpha/2}\sqrt{\dfrac{\hat{p}(1-\hat{p})}{n}}$

, where $\hat{p}$ is the sample proportion, n is the sample size , $z_{\alpha/2}$ is the critical z-value.

The values needed to calculate a confidence interval at the 99% confidence level are :

Given : Significance level : $\alpha:1-0.99=0.01$

Sample size : n=450

Critical value : $z_{\alpha/2}=2.576$

Sample proportion: $\hat{p}=\dfrac{280}{450}\approx0.62$

Now, the 99% confidence level will be :

$\hat{p}\pm z_{\alpha/2}\sqrt{\dfrac{\hat{p}(1-\hat{p})}{n}}\\\\=0.62\pm(2.576)\sqrt{\dfrac{0.62(1-0.62)}{450}}\\\\\approx0.62\pm0.023\\\\=(0.62-0.023,\ 0.62+0.023)=(0.597,\ 0.643)$

Hence, the 99% confidence interval is $(0.597,\ 0.643)$

6 0

3 years ago