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

What does P(B/A) = 0.50 mean in terms of the Venn diagram?

Serggg [28]

Answer:

of the 4 people that have a sister, 2 of them have a brother

Step-by-step explanation:

probability of B given A

given that the person has a sister, what is the probability they have a brother

P (B/A) = 1/2

with this venn diagram

of the 4 people that have a sister, 2 of them have a brother

3 0

4 years ago

I NEED HELP THIS IS MY LASST ONE UNTIL

Gelneren [198K]

Answer:

The answer is 24ft

4 0

3 years ago

I have 7 mins to turn in, what’s the answer?? thanks :)

Ostrovityanka [42]

Answer:

A) x = 10-/3, y = 20

Step-by-step explanation:

8 0

3 years ago

Did anybody laugh when the ice skater fell down?

Rama09 [41]

Answer:

okkkkkkk ty for he points

Step-by-step explanation:

3 0

3 years ago

Read 2 more answers

What is the slope of y = -1 + 3x?

zavuch27 [327]

Answer:

slope of y= -1+3x is "3"

of y=-x+7 is "-1"

of y=3x+8 is "3"

i) y intercept = "-9"

ii) y intercept = "-2"

5 0

3 years ago