1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Strike441 [17]
3 years ago
6

Caitlin has a credit card with a spending limit of $1500 and an APR (annual percentage rate) of 18%. During the first month, Cai

tlin charged $375 and paid $250 of that in her billing cycle. Which expression will find the amount of interest Caitlin will be charged after the first month?
Business
1 answer:
gayaneshka [121]3 years ago
8 0
Given:
Spending limit: 1500
APR: 18%
Purchases: 375
Payment 250

Divide the APR by 360 days and multiply it by 30 days to get the monthly rate.

18% / 360 = 0.05% 
0.05% x 30 = 1.5%

1.5% will be multiplied to the remaining balance in the first month.

375 - 250 = 125
125 x 1.5% = 1.875 

1.875 is the interest charged after the first month. 
You might be interested in
Rhoda describes her typical customer as female between the ages of 22 and 35 with at least two years of college education and a
Anna11 [10]

Answer:

Demographic variable

Explanation:

Rhoda describes her typical customer as female between the ages of 22 and 35 with at least two years of college education and a household income above $50,000 annually. Rhoda is using demographic variables to describe her customers. A demographic variable is a variable that is collected by researchers to describe the nature and distribution of the sample used with deductive statistics, these are variables such as age, gender, educational level e.t.c. Rhoda describes her typical customer as female between the ages of 22 and 35 with at least two years of college education and a household income above $50,000 annually therefore Rhoda was formulating her customer profile by using information such as gender, age, education level and income level.

3 0
3 years ago
You can receive 400,000 five years from today or 1,000,000 thirty years from today. what interest rate makes them equivalent?
deff fn [24]

Answer:

3.73%

Explanation:

The computation of the rate of interest that makes the equivalent is shown below:

As we know that

Present value=Cash flow × Present value discounting factor ( interest rate% , time period)

Let us assume the interest rate be x

where,

Present value of $400,000 is

= $400,000 ÷ 1.0x ^5

And,

Present value of $1,000,000 be

= $1,000,000 ÷ 1.0x^30

Now eqaute these two equations

$400,000 ÷ 1.0x^5 = $1,000,000 ÷ 1.0x^30

(1.0x^30) ÷ (1.0x^5) = $1,000,000 ÷ $400,000

1.0x^(30 - 5)=2.5

1.0x^25=2.5

1.0x = (2.5)^(1 ÷ 25)

x =1.03733158 - 1

= 3.73%

3 0
3 years ago
For a repayment schedule that starts at EOY four at ​$Z and proceeds for years 4 through 9 at ​$2Z​, ​$3Z​,..., what is the valu
Tamiku [17]

Answer:

$778.05625

Explanation:

The computation of the amount of repayment is shown in the attachment below:

Given that

Proceeds for year 4 through 9 at $2Z​, ​$3Z

The Principal of the loan amount = $10,000

Interest rate = 7% per year

Based on the given information, the value of Z or the amount of repayment is  

= Principal of the loan amount ÷ Total annuity

= $10,000 ÷ 12.85254119

= $778.05625

6 0
3 years ago
The following data represent quantities of tea leaf pluckings (tender shoots from tea plants) from sixteen different plots of te
mr_godi [17]

Answer:

Explanation:

1)H_0 : All group means equal or \mu _1=\mu _2=\mu _3=\mu _4

H_1:\mu 1=\mu 2=\mu 3\neq \mu 4

At least one of the treatment group means are different

ANOVA TABLE      

<u>Source of Variation    SS         df      MS            F          P-value        F crit </u>

Between Groups       213.5      3    71.16667   0.65 0.5975     3.490295

Within Groups          1312.5      12   109.375  

MSB = SSB / DFB = 71.16667

MSE = SSE / DFE = 109.375

F = MSB / MSE = 0.650667

3) P-value: 0.597576

The test statistic is not significant and failed to reject the null hypothesis.

4) The test statistic is not significant. So, there is no evidence to conclude that there is a difference between groups.

4 0
3 years ago
What is (are) the main problems in using a balance sheet to provide an accurate assessment of the value of a company's equity?
frez [133]

Answer:

A) Valuable assets such as the company's reputation, the quality of its work force, and the strength of its management are not captured on the balance sheet.

Explanation:

As we know that the balance sheet records the assets, liabilities and the equity of the company. Now the main problem with the balance sheet is that the valuable assets such as reputation of the company, work force quality, management strength would not captured here as it only records the monetary transactions.

Therefore the correct option is a.

3 0
2 years ago
Other questions:
  • A popular television show, the unexpected, achieved skyrocketing ratings after moralist tom bowman attempted to have it removed
    12·1 answer
  • 11. Assume that somehow, Andy managed to get that loan from a bank officer whith whom he went to school. But instead of using it
    14·1 answer
  • Loews corporation, a conglomerate with 15 billion usd in revenues, competes across several industries including oil and gas, tob
    11·1 answer
  • Universal Travel Inc. borrowed $500,000 on November 1, 2018, and signed a 12-month note bearing interest at 6%. Interest is paya
    6·1 answer
  • Based on what you learned in The Power of the Informal Economy video, what is the informal economy and how many people in the wo
    8·1 answer
  • Please help???/
    15·1 answer
  • What does a current ratio of 1.20:1 mean?
    15·1 answer
  • Kết luận sự thích ứng tâm lý của sinh viên năm nhất
    10·1 answer
  • Suppose that a demand curve exhibits two points. Initially, at price P 0 , the quantity demanded is Q 0 . When price changes to
    13·1 answer
  • If all courses were regular (not honors or AP) 1 credit classes, calculate the student's GPA based on the following grades:
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!