The answer is 1/5
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Answer:
His actual interest rate per year is 24.04%.
Step-by-step explanation:
Given : where n is the number of compounding periods per year. Benny’s credit card APR is 21.55% compounded daily.
To find : What is his actual interest rate per year—that is, his EAR?
Solution :
The formula of EAR is
Here, APR = 21.55%=0.2155
n=365 (compounded daily)
Substitute the value,
Therefore, His actual interest rate per year is 24.04%.
7^4 is basically 7x7x7x7so 7x7=49x7=343x7=2401
4.3^3 same thing 4.3x4.3=18.49x4.3=79.507
The expression: B+5x2