Penelope bought stock in a company for $8 per share. Now the price of the is $18 per share. What percent of the original price i
1 answer:
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Answer:
And we can find this probability with this difference:
Step-by-step explanation:
Let X the random variable that represent the weights of a population, and for this case we know the distribution for X is given by:
Where and
We want to find the following probability:
And we can use the z score formula given by:
And using this formula we got:
And we can find this probability with this difference:
If a credit card advertises an annual interest rate of 23%, then the equivalent monthly interest rate is 1.74%
The annual interest rate = 23%
The credit card interest rate the amount you have to pay to borrow the money from them. The credit card interest rate is usually expressed in yearly rate. This is called annual percentage rate.
The monthly interest rate =
=
= 1.0174
Then,
= (1.0174-1) × 100%
Subtract the terms first
= 0.0174 × 100%
Multiply it
= 1.74%
Hence, if a credit card advertises an annual interest rate of 23%, then the equivalent monthly interest rate is 1.74%
Learn more about annual percentage rate here
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