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Harman [31]
3 years ago
11

Mike's credit card has an APR of 9.89% and a grace period of 16 days, and Mike pays his balance in full every month. If his last

billing cycle ended on April 25, 2009, and he made his payment on May 13, 2009, did he owe any interest on his last statement's balance?
A) no, because he didn’t pay within the grace period
B) yes, because he paid within the grace period
C) no, because he paid within the grace period
D) yes, because he didn’t pay within the grace period
Mathematics
2 answers:
Lera25 [3.4K]3 years ago
7 0
Yes, because he didn't pay within the grace period. 
balandron [24]3 years ago
6 0
It's D, just took the quiz
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3 years ago
The simple interest on a certain sum for 5years at 8% per annum is Rs200 less than the simple interest on the same sum for 3year
Paha777 [63]

Answer:

Step-by-step explanation:

The simple interest on a certain sum for 5years at 8% per annum is Rs200 less than the simple interest on the same sum for 3years and 4months at 18% per annum.Find the sum​

The formula for Simple Interest = PRT

From above question, we have to find the Principal

The simple interest on a certain sum for 5years at 8% per annum is Rs200

Hence,

R = 8%

T = 5 years

Rs 200 = P × 8% × 5

P = 200/8% × 5

P = Rs500

The principal = Rs 500

The simple interest on the same sum for 3years and 4months at 18% per annum.

Simple Interest = PRT

R = 18%

T = 3 years and 4 months

Converted to years

T = 3 + (4 months/12 months)

T = 3.33 years

Hence,

Simple Interest = Rs 500 × 18% × 3.33 years

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3 years ago
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2 years ago
£150 is invested at 5% compound interest for 2 years. How much will be in the account at the end of the investment?
morpeh [17]

Answer:

165

Step-by-step explanation:

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