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GarryVolchara [31]

3 years ago

8

If a store credit account charges 1.5% interest each month, what is the APR?

2 answers:

Gelneren [198K]3 years ago

7 0

If the monthly interest is 1.5%, then the APR is

100 [ (1.015)¹² - 1 ] = <u>19.56 %</u>

You might think that it would be (12 x 1.5) = 18% , but it's not.

The interest is compounded. That means interest is added this month,
and then it becomes part of the amount on which interest is charged
next month.

So you're charged interest on interest, and it adds up.

Anuta_ua [19.1K]3 years ago

6 0

The APR is the annual percentage rate
therefore the APR is 1.5x12=18%

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If 3a - 2 = 10, what is the value of 8a + 1?

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3 years ago

Read 2 more answers

Can a quadrilateral be a rhombus ?

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6 0

3 years ago

Determine the equation of the circle graphed below. <br><br> ( please help me )

Brums [2.3K]

Answer:

$Equation : \\(x+3)^2 + ( y -2)^2 = 36$

Step-by-step explanation:

For standard form the circle's equation we need the centre of the circle and the radius.

Step 1: <em><u>Find the centre</u></em>

If the centre is not given find the end points of the diameter

and then find the mid point.

Let the end points of the diameter be : ( - 3 , 8 ) and ( -3 , -4 )

The mid-point of the diameter is :

$Mid-point = (\frac{-3 + - 3}{2}, \frac{-4+8}{2}) = (-3, 2)$

Therefore, centre of the circle = ( -3 , 2 )

Step 2 : <u>Find radius</u>

<u></u> $Radius = \frac{Diameter }{2}$ <u></u>

Diameter is the distance between the end points ( -3 , 8) and ( -3 , -4 )

That is ,

$Diameter = \sqrt{(-3-(-3))^2 + ( -4 -8)^2}\\$

$= \sqrt{(-3 + 3)^2 + (-12)^2}\\\\=\sqrt{0 + 144}\\\\=12$

Therefore ,

$Radius = \frac{12}{2} = 6$

Step 3 : <u>Equation of the circle</u>

Standard equation of the circle with centre ( h ,k )

and radius ,r is :

$(x - h)^2+(y -k)^2 = r^2$

Therefore, the equation of the circle with centre ( -3, 2)

and radius = 6 is :

$(x - (-3))^2 + (y - 2)^2 = 6^2\\\\(x + 3)^2 + (y - 2)^2 = 36$

5 0

2 years ago