Chris invested some money at a rate of 5% per year compound interest.
1 answer:
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Answer:
B
Step-by-step explanation:
Given a parabola in standard form
y = ax² + bx + c ( a ≠ 0 )
Then the x- coordinate of the vertex is
x = -
y = 3x² + 6x + 1 ← is in standard form
with a = 3 and b = 6 , then
= -
= - 1
Substitute x = - 1 into y for corresponding y- coordinate
y = 3(- 1)² + 6(- 1) + 1
= 3(1) - 6 + 1
= 3 - 5
= - 2
vertex = (- 1, - 2 )
Answer: The credit card will paid off within 10 years, therefore the correct option is D.
Explanation:
Let the number of years in which the credit card will aid of be x.
It is given that amount owed on credit card is $1000 with interest rate 27.99%.
So the amount of interest is calculated as,
The total amount have to pay is,
The minimum payment is $20 each month.
So, the credit card will paid of in 63.995 months. We know that 1 year =12 months.
Therefore, the will paid of in 5.33 years, s we can say that the credit card will paid off within 10 years, therefore the correct option is D.