Help, im on prodigy and i can't figure this out.
2 answers:
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Answer:
It will take approximately 25 months
Step-by-step explanation:
The amount owed on the credit card statement, P = $2,000
The interest rate of the credit on the credit card, r = 18.9%
The minimum monthly payment made, M = $100
The equal monthly installment formula is given as follows;
Therefore, we get;
100×1.01575ⁿ - 100 = 31.50×1.01575ⁿ
100×1.01575ⁿ - 31.50×1.01575ⁿ = 100
68.5×1.01575ⁿ = 100
1.01575ⁿ = 100/68.5
n = ln(100/68.5)/ln(1.01575) ≈ 24.21 (which is approximately 25 months, by rounding up to the nearest whole number)
Therefore, it will take approximately 25 months to pay off the credit card debt
Answer:
The determinant of J can be found using the formula ad - bc
where
So we have
Step-by-step explanation:
Answer:
$62,500.
Step-by-step explanation:
We are told that the top seller this month will win a trip to the Bahamas for a week, paid in full. Last year's winner exceeded the goal by 125%. This year goal is $50,000.
To find the least amount that one should make to win a trip to the Bahamas, we will find 125% of 55,000.
Therefore, to win a trip to the Bahamas one should make at least $62,500.