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
Marta_Voda [28]
3 years ago
9

Richard has a balance of $2200 on a credit card with an APR of 31.3% compounded monthly about how much will he save in interest

over the course of a year if he transfers his balance to a credit card with an APR 19.1% compounded monthly
Mathematics
2 answers:
icang [17]3 years ago
7 0
The answer is 337.49
Dima020 [189]3 years ago
4 0

Answer:

He will save $283.8284

Step-by-step explanation:

We have given that Richard has a balance of $2200 on a credit card with an APR of 31.3 %

So principle amount P = $2200

And he transfers his balance to credit car with an APR of 19.1 %

So net rate of interest = 31.3 - 19.1 = 12.2 %

It is compounded monthly so time period n = 12

And rate of interest =\frac{12.2}{12}=1.0167%

We know that total amount is given by

A=P(1+\frac{r}{100})^n=2200(1+\frac{1.067}{100})^{12}=$2283.8284

So interest will be $2283.8284 - $2200 = $283.8284

You might be interested in
3x-y= 7<br> 2х + Зу = 12<br> Can anyone help me with this answer please?
wlad13 [49]

Answer:

what are these teachers teaching yall. dang bruh i hope you get the answer soon.

Step-by-step explanation:

are you good at english?

7 0
3 years ago
Choose as many answers as apply. Which of the following are metric measurements? gallon liter meter pint quart kilogram kilowatt
Step2247 [10]
Liter
meter
kilogram
kilowatt 
6 0
4 years ago
Read 2 more answers
Hugo wants to make a sandwich using wrap or baguette cheese or turkey mayonnaise or ketchup , list all the possible types of san
S_A_V [24]

Answer:

What subject is this

Step-by-step explanation:

6 0
3 years ago
Please expand the logarithmic expression: Log3(7X^3Y^2)
disa [49]
\log_37x^3y^2=\\\log_37+\log_3x^3+\log_3y^2=\\\log_37+3\log_3x+2\log_3y
8 0
3 years ago
Does anyone know this?
Bumek [7]

Answer:

B

Step-by-step explanation:

Initial mean = 156, Changed mean = 163.92

So, mean increases. Only condition that satisfies this is B.

7 0
3 years ago
Other questions:
  • Question Progress
    13·1 answer
  • If coordinate (3,1) is translated down 2 and left 4 what will the new coornidate be
    5·1 answer
  • Mason is one of 320 players participating in an online tournament. After each round of play, half of the players are eliminated.
    7·1 answer
  • A box contanis ten cards lebeled jklmnopqrs what is the probabilty of choosing a letter from n to Q
    9·1 answer
  • Plz answer me will mark as brainliest <br><br>solve - 3x + ( - 5y) - (-10) - 7x​
    6·1 answer
  • Please Help!! 100 POINTS!!!
    14·2 answers
  • Read this excerpt from The People Could Fly
    11·2 answers
  • Someone please help
    15·1 answer
  • How many fourths are in 3 4 ? <br> O 4 Over 16 <br> O One-half <br> O 3 <br> O 4
    6·1 answer
  • An alternating voltage of 240V,50HZ is connected across an impedance of (60-j100) Ω. Determine:
    6·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!