Answer: The credit card will paid off within 10 years, therefore the correct option is D.
Explanation:
Let the number of years in which the credit card will aid of be x.
It is given that amount owed on credit card is $1000 with interest rate 27.99%.
So the amount of interest is calculated as,
The total amount have to pay is,
The minimum payment is $20 each month.
So, the credit card will paid of in 63.995 months. We know that 1 year =12 months.
Therefore, the will paid of in 5.33 years, s we can say that the credit card will paid off within 10 years, therefore the correct option is D.
Answer:
Suppose that a couple invested $50,000 in an account when their child was born, to prepare for the child's college education. If the average interest rate is 4.4% compounded annually, ( A ) Give an exponential model for the situation, and ( B ) Will the money be doubled by the time the child turns 18 years old?
( A ) First picture signifies the growth of money per year.
( B ) Yes, the money will be doubled as it's maturity would be $108,537.29.
a = p(1 + \frac{r}{n} ) {}^{nt}a=p(1+
n
r
)
nt
a = 50.000.00(1 + \frac{0.044}{1} ) {}^{(1)(18)}a=50.000.00(1+
1
0.044
)
(1)(18)
a = 50.000.00(1 + 0.044) {}^{(1)(18)}a=50.000.00(1+0.044)
(1)(18)
a = 50.000.00(1.044) {}^{(18)}a=50.000.00(1.044)
(18)
50,000.00 ( 2.17074583287910578440507440 it did not round off as the exact decimal is needed.
a = 108.537.29a=108.537.29
Step-by-step explanation:
Hope This Help you!!
Answer:
1.02 as a decimal
1 and 1/50 as a fraction
Step-by-step explanation:
Answer:
68%
Step-by-step explanation:
Hope this helps! :)
I would appreciate brainliest, if not that's ok!
This is an improper. Perhaps you can fix it, so that I can assist you with it? I apologise.
