Shirley has a credit card that uses the previous balance method. The opening
2 answers:
Answer:
= $44.19
Step-by-step explanation:
APR = 19%
Billing cycle = 30 days
Balance = $2830
Let's first find the daily rate,
Daily rate =
The daily rate = 0.000521
To calculate the amount Shirley was charged interest for the billing cycle, we use:
Daily rate * billing cycle * balance
Where,
Daily rate
=
Billing cycle = 30 days
Balance = $2830
Therefore, expression to be used =
You might be interested in
Answer:
<em>The age at which both companies charge the same premium is 44 years</em>
Step-by-step explanation:
<u>Graph Solution to System of Equations</u>
One approach to solving systems of equations of two variables is the graph method.
Both equations are plotted in the same grid and we find the intersection point(s) of both graphs. Those are the feasible solutions.
The annual premium p as a function of the client's age a for two companies are given as:
Company A: p= 2a+24
Company B: p= 2.25a+13
The graphs of both functions are shown in the image below.
The red line indicates the formula for Company A and the blue line indicates the formula for Company B.
It can be seen that both lines intersect in the point with approximate coordinates of (44,112).
The age at which both companies charge the same premium is 44 years
