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Anna [14]
3 years ago
13

Sam is getting ready for a big date when he realizes that he has no money. His roommate, Bill, also has no money, but he has a c

redit card. Knowing that nobody will let Sam use Bill’s credit card, Sam asks Bill to pull out a cash advance for $120.00. Bill agrees under the condition that Sam is responsible for all interest that accrues on the cash advance which is a 30% interest rate, compounded monthly. 5 full years go by before the $120 cash advance is repaid. How much should Bill ask Sam to pay in interest for the cash advance?
a.
$3.88
b.
$112.80
c.
$120.00
d.
$232.80
Mathematics
2 answers:
slava [35]3 years ago
6 0
Cash advance = 120

annual interest rate = 30% compounded monthly
<span>
term = 5 years

</span><span>A = P (1 + r/n)^nt

</span>A = future value of the cash advance

P = principal or value of cash advance


r = interest rate

n = times interest is compounded
<span>
t = terms or years</span>

A = 120 (1 + 30%/12)^12 * 5

A = 120 (1 + 0.025)^60

A = 120 (1.025)^60

A = 120 (4.40)
<span>
A = 528

</span>528 total amount including principal.
528 - 120 = 408 total interest paid 
I hope this helps!!
Ber [7]3 years ago
3 0

Answer:

I just took the test, the answer is B.) $112.80


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In the diagram, which angles form a linear pair? Check all that apply.
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C. ∠RST and ∠VSU form opposite angles with each other
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E. ∠TSU and ∠RSV form opposite angles with each other

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7 0
4 years ago
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The points A(3, 4), B(3, -2), C(-5, -2), and D(-5, 4) form rectangle ABCD. Which point is halfway between A and B?
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8 0
4 years ago
Tomos is a skier he completed a ski race in 2 min 6 seconds
Varvara68 [4.7K]

Answer: 3\ min\ 12\ s

Step-by-step explanation:

The complete exercise is: "Tomos is a skier he completed a ski race in 2 min 6 seconds the race was 525 m in length. Tomos assumes that his average speed is the same for each race. using this assumption, work out how long tomos should take to complete an 800 m race give your answer in minutes and seconds"

For this exercise you can use the following formula to find the average speed :

V=\frac{d}{t}

Where "d" is the distance and "t" is the time.

In this case, based on the information given in the exercise, you can identify that:

d=525\ m

Since  he completed a ski race in 2 min 6 seconds, and 1 minute has 60 seconds, you ge that this time in seconds is:

t=120\ s+6\ s=126\ s

Substitute these values into the formula to find the average speed:

V=\frac{525\ m}{126\ s} \\\\V=\frac{25}{6\ }\frac{m}{s}

The formula for the time is:

t=\frac{d}{V}

Knowing that Tomos assumes that his average speed is the same for each race, for the  800 meters race you can identify that:

V=\frac{25}{6\ }\frac{m}{s}\\\\d=800\ m

So, substituting values into the formula and evaluating, you get that the time it takes him to complete this race is:

t=\frac{800\ m}{ \frac{25}{6\ }\frac{m}{s}}\\\\t=192\ s

Convert from seconds to minutes:

(192\ s)(\frac{1\ min}{60\ s} )=3.2\ min

Converting 0.2 minutes to seconds, you get:

(0.2\ min)(\frac{60\ s}{1\ min} )=12\ s

Therefore:

t=3\ min\ 12\ s

8 0
3 years ago
Sandra deposited $2,500 into a simple interest account. She earned $75 in interest after 1 year. Ron deposited $8,000 into an ac
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Answer:

the interest amount is $240

Step-by-step explanation:

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6 0
3 years ago
A flagpole is casting a 20 feet shadow. the flagpole measures 16 feet find the angle of elevation of the sun
Oksanka [162]

Answer:

39°

Step-by-step explanation:

==>Given:

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==>Required:

Angle of elevation of sun (θ)

==>Solution:

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tan θ = 16/20

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5 0
3 years ago
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