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Serhud [2]
3 years ago
13

With a beginning balance of $1200 and no additional charges during the next three months, you will just pay the minimum payment

each month for the next three months. The APR is 24.99% and the minimum payment each month is 3% of the balance.
Mathematics
1 answer:
oksano4ka [1.4K]3 years ago
5 0

Here is the complete question.

With a beginning balance of $1200 and no additional charges during the next three months, you will just pay the minimum payment each month for the next three months. The APR is 24.99% and the minimum payment each month is 3% of the balance. Determine the finance charge, new balance, and minimum payment required for each of the next three months, and the starting balance for month 4 in the table below.

a) What is the total of minimum payments?

b) What is the total sum of the finance charges?

c) How much does the starting balance decrease after these three payments?

d)The total of your finance charges is what percent of our total payments?

Answer:

Step-by-step explanation:

Month       Beginning        Finance          New               Minimum

                  Balance          Charge            Balance        Payment

1          $ 1200             24.99           1224.99            36.75

2          1188.24             24.75          1212.99            36.39

3          1176.60             24.50           1201.10            36.03

4          1165.07             24.26           1189.33             35.68

a.

The total minimum payments for 3 months = 36.75 + 36.39 + 36.03

The total minimum payments for 3 months = $ 109.17

b.

Total finance charges for 3 months = 24.99 + 24.75 + 24.50

Total finance charges for 3 months = $ 74.24

c. The starting balance decrease from 1200 to 1165.07, this implies that there is a reduction of $ 34.93

d. The total of finance charges = 74.24×(100/109.17)

The total of finance charges = 68% of total payments.

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2. An arc is a smooth piece of a circle. A major arc of a circle is an arc that is
Maru [420]

Answer: Major arc = ∅/360 (2πr)

Step-by-step explanation: Just as the question stated, an arc is a smooth piece of a circle. Simply put, it is a portion of the entire circumference. The arc is usually bounded by an angle at the center of the circle (very similar to a slice of pizza). Using a slice of pizza as a classic example, the outer edge where the slice is pulled out from is the length of the arc, while the angle at the tip which is pulled out from the center is the angle that encloses the arc.

Just as a slice of pizza is a minor part of the whole shape, in the same way an arc is a minor part of a circle. However, to calculate the length of the arc, the angle at the center which encloses the arc must be given and the radius of the circle must also be given.

If an arc runs around a circle and turns out to be longer than half of the entire length of the circumference, it is labelled as a major arc. Basically, the formula for calculating the length of an arc is the same for either a minor or a major arc.

Therefore, to calculate the length of an arc, you would need to find the proportion of the circle represented by the arc and that can be calculated by dividing the angle binding the arc by 360 (size of an angle at a point equals 360 degrees). So, if the angle that encloses the arc is 60 degrees for example, then the portion of the circle taken by the arc is given as

60/360

This means the length of the arc (which is a portion of the entire circumference) can be determined by multiplying the portion of the  central angle by the entire length of the circumference.

Therefore you can calculate the measure of major arc ABC by applying the formula

Length of an arc = ∅/360 (2πr)

Where ∅ is the angle enclosing the arc at the center of the circle

r is the radius of the circle and

π is usually given as 3.14 (or 22/7)

Please note that for a major arc, the value of ∅ would be greater than 180°. The measurement used in the explanation above is just an example for the sake of ease of explanation.

And where the only the angle measure of the minor arc is given, the angle measure of the major arc can be derived as 360 - angle of minor arc. That is;

Angle of major arc = 360 - angle of minor arc

6 0
3 years ago
Make q the subject of the formula
miss Akunina [59]

Answer:

q = 2p - 1/3

Step-by-step explanation:

2q + 2p = 1+5q

2q = 1+5q-2p

-3q=1-2p

-q = 1-2p/3

q= 2p-1/3

8 0
2 years ago
Read 2 more answers
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bearhunter [10]
B. triangle and triangular prism
6 0
3 years ago
a metal strip is being installed around a workbench that is 6 feet long and 2 feet wide. find how much stripping is needed
Stolb23 [73]
Given that the metal strip is being installed around a bench that 6ft long 2ft wide. The metal required will be given by:
P=4(L+W)
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4 0
3 years ago
Estamate 12871+6281+5146 by first rounding each number to the nearest thousand.
Pie
12,871 rounded to nearest thousand = 13,000.

6281 rounded to nearest thousand = 6,000.

5146 rounded to nearest thousand = 5,000.

In total, 13,000 + 6,000 + 5,000 = 24,000.
4 0
3 years ago
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