This is the answer and the steps for doing it
The answer is c ...use the distrubutive property to check it
Answer:
<h2>
4076.56</h2>
Step-by-step explanation:
First we need to calculate the James monthly charges on his balance of 4289.
Using the simple interest formula;
Simple Interest = Principal * Rate * Time/100
Principal = 4289
Rate = 5%
Time = 1 month = 1/12 year
Simple interest = 4289*5*1/12*100
Simple interest = 21,445/1200
Simple interest = 17.87
<u>If monthly charge is 17.87, yearly charge will be 12 * 17.87 = </u><u>214.44</u>
The balance on his credit card one year from now = Principal - Interest
= 4289 - 214.44
= 4076.56
The balance on his credit card one year from now will be 4076.56
Look at the attachment!
Thanks. (I can’t see the Tuesday 24 Question 5, sorry.)
55,000 + 2,500x = 62,000 + 2,000x
subtract 55,000 from both sides
2,500x = 7,000 + 2,000x
now subtract 2,000x from both sides
500x = 7,000
x= 14 years