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prohojiy [21]
3 years ago
12

Cynthia had a credit card with a 17% APR and a $3,265 balance. She had budgeted to have the credit card paid off in 24 months. B

ut after missing a single monthly payment, Cynthia’s credit card company has increased her interest rate to 21%. How much extra will Cynthia have to pay in finance charges (interest) because of the increase in her APR if she still pays off the credit card in 24 months?
Mathematics
2 answers:
mr Goodwill [35]3 years ago
7 0
The correct answer is <span>a.<span>$152.16</span></span>
Trava [24]3 years ago
7 0

Answer:

Cynthia will have to pay $152.16 extra due to increase in her APR.

Step-by-step explanation:

The EMI formula is =

\frac{p*r*(1+r)^{n} }{(1+r)^{n}-1 }

Scenario 1st:

p = 3265

r = 17/12/100=0.014166

n = 24

Putting the values in the formula:

\frac{3265*0.014166*(1.014166)^{24} }{(1.014166)^{24}-1 }

= $ 161.44

Scenario 2nd:

p = 3265

r = 21/12/100=0.0175

n = 24

Putting the values in the formula:

\frac{3265*0.0175*(1.0175)^{24} }{(1.0175)^{24}-1 }

= $ 167.78

The difference between these two are :

167.78-161.44=6.34 per month

So, for 24 months, the charge will become = 6.34\times24=152.16 dollars.

Therefore, Cynthia will have to pay $152.16 extra due to increase in her APR.

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Goryan [66]

Hi, Laura! ;)

<h2>The answer to the first question is 5,62.</h2>

<h2><em>Here is the step by step solution</em>: </h2>

They want to know the center of a distribution. Another word for center is middle. When you have a set of numbers, you can find the middle by calculating the mean, the "average" of the data set.

1) Add all the numbers: 12,8 + 5,7 + 7,9 + 1,3 + 3,2 + 2,8 = 33,7

2) Divide the sum by the quantity of numbers, which is 6:  33,7 / 6 = 5,616

The closest number to 5,616 is 5,62.

==========================================================

Now let's answer your second question.

<h2>The correct answer is, indeed, 0,14.</h2>

<h2><em>How do we get to this number? Here is the step by step solution:</em></h2>

1) First step is to find out how many possible outcomes you have. It is the

number of raffle tickets in the box: 200.

2) Then, let's define the number of tickets that are prizes: 4 + 8 + 16 = 28.

The probability of selecting a prize ticket is the number of prize tickets divided by all the raffle tickets in the box: 28 / 200 = 0,14.

Now, let's practice Probability with another Brainly problem:

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Good luck, Laura! :)

4 0
2 years ago
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Answer:

(b)(i) LCM of 45 and 50 = 450

Hence, it take 450 minutes until both ovens ding simultaneously.

(b)(ii) 450÷50=9 banana cakes baked

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