Answer:
For Month 1, we have:
Carry-over balance = $12,000.00
Finance charge = $189.90
New balance = $12,189.90
Minimum payment = $609.50
For Month 2, we have:
Carry-over balance = $11,580.41
Finance charge = $183.26
New balance = $11,763.66
Minimum payment $588.18
Step-by-step explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question. See the attached pdf file for the complete question.
The explanation to the answer is now given as follows:
Note: See the attached excel file for calculations of the finance charge, carry-over balance, and minimum payment required for each of the next two months.
In the attached excel file, the following formulas are used:
r = Monthly percentage rate = APR / 12 = 18.99% / 12 = 1.5825%
Carry-over balance of the current month = New balance of the previous month - Minimum payment of the previous month
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I would assume it’s B and D
Let the first digit of the 2-digit number be x and the second digit be y.
Then the ratio (x/y) equals (1/2). Write a formula for y in terms of x.
The tens digit is 2 more than the units digit. Using the letters x and y, write out the proper equation.
Now solve your two equations simultaneously for x and y.
Answer:
9:15 am
Step-by-step explanation:
Alarms sound at 7:15 am
Alarm frequencies are 40 min and 60 min
Since 40= 20*2 and 60= 20*3, the overlapping frequency is:
- 20*2*3= 120 min = 2 hours
So next time both alarms sound at 7:15 am + 2 hours = 9:15 am
