Let
x = APR
y = APY
n = componding frequency
It turns out that we can connect those three variables with the equation
y = (1+x/n)^n - 1
For example, let's say that a credit card advertises an APR of 20% and the compounding frequency is 12 times a year (aka monthly). This would mean x = 0.20 and n = 12 and y is...
y = (1+x/n)^n - 1
y = (1+0.2/12)^12-1
y = 0.219
So the APY is roughly 21.9% compared to the APR value of 20%. This increase is due to the fact that compound interest adds up over time. Even the smallest change can have a big effect later down the road. The credit card company will want to advertise (and often does advertise) the APR value to lower the perceived interest rate.
On the flipside, if a bank wants to increase the interest rate of a CD (certificate of deposit), then the bank will advertise the APY value to effectively inflate the interest rate to make the product seem more rewarding. So it simply depends on which side of the fence you're on. With credit cards, it's about paying money back while bank CDs are about paying you money. Both are connected to the same basic idea.
Answer:
-84
Step-by-step explanation:
Let the number be x. Then we have,
(the quotient of a number and -7)
(decreased by 2)
(is 10)
Now we can solve for x,:
So, the original number is -84
Answer:
9:7.
Step-by-step explanation:
14 blue triangles and 18 yellow triangles,
The LCM of them both is 2 so we can divide both of the numbers by 2.
14 divided by 2 = 7
18 divided by 2 = 9
Since they asked for the ratio of <u><em>yellow triangles to blue triangles</em></u>,
The answer will be <em><u>9:7</u></em>.
Hope that helps. x
Answer:
Set the area equal to x2, solve for x, and then multiply the value of x by 4.
Step-by-step explanation:
The area of the picture is given by
A = s^2 where s is the side length
Let the side length be x
A = x^2
Take the square root of each side
sqrt(A) = sqrt(x^2)
x = sqrt(A)
We want to find the perimeter since we are framing the border
P = 4s since the picture is a square
P = 4 * x
