1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
frutty [35]
3 years ago
5

Travis just got a new credit card that offers inductors APRof 3.6% for first 3 months and standard APR of 14.4% thereafter. If i

nterest is compounded monthly, what is the periodic interest rate during the first three months?
Mathematics
1 answer:
Makovka662 [10]3 years ago
5 0

Answer:

Month 1 : 0.002988

Month 2: 0.00299692814

Month 3: 0.00300588297

Step-by-step explanation:

Since we're only finding the interest for the first three months, it's easy to do it by performing the simple interest formula. But first, we need divide 3 by 12, since we calculate interest using years. 3/12 = 1/4 = 0.25

The standard simple interest calculation is done by multiplying the starting amount, by the interest, by the time, then dividing by 100 to put it into a percentage.

1 month = 1/12 or approximately 0.083 of the year.

Let's say P = 1. For the first month, it will be 1 x 3.6 x 0.083 = 0.2988 / 100

The second month, (1 + 0.002988) * 3.6 * 0.083 = 0.299692814 / 100

The third month, (1.002988 + 0.00299692814) x 3.6 x 0.083 = 0.300588297/100

Given the initial amount be 1, those would be the periodic interest rate during the first three months.

You might be interested in
Which function represents the graph of f(s)=-4[x] after it is translated 3 units down?
MaRussiya [10]
I'm not sure but I think, f(s)=-4[x]-3
8 0
2 years ago
Multiply and combine like terms to determine the product of these polynomials. (3x−6)(4x+1)
icang [17]
0.12 I think I’m not sure how to do this I ji at have an idea maybe I’m super wrong
5 0
2 years ago
Read 2 more answers
What is an explicit formula for the following recusive formula an=an-1+7;a1=2
Artyom0805 [142]
ANSWER
D.
EXPLANATION
The given explicit formula is

and

This implies that,

The explicit formula is given by:

We substitute the known values to get;
3 0
2 years ago
The equation y=-7x-5 and the solution of (-2,9)
Black_prince [1.1K]
Y=-7x-5 
9=-7(-2)-5
9=14-5
9=9
Please mark the brainliest, if you think i helped!
8 0
3 years ago
How do I complete this formal check?
natima [27]

Answer:

Step-by-step explanation:

The first two steps are for the purpose of eliminating fractions.  Doing so results in 4(2x - 5) = 9(x - 2), which is to be solved for x.

Perform the indicated multiplication, obtaining:

8x - 20 = 9x - 18.

Then combine like terms:  -2 = x, or

x = -2.

To complete the formal check, substitute -2 for x in the first equation.  This results in:

(1/3)(-4 - 5) = (3/4)(-2 -2), or

        -3       =        -3

... which is obviously true.  

8 0
3 years ago
Other questions:
  • Tommy and Zach are starting out at the same position. Tommy runs north at 3 miles per hour and Zach starts to run east 2 hours l
    14·2 answers
  • Round 5.82-1.76 to the nearest whole number
    8·1 answer
  • Plz help me do this homework<br><img src="https://tex.z-dn.net/?f=6ac%20-%2015ad%20-%208bc%20%2B%202bd" id="TexFormula1" title="
    11·1 answer
  • What is 36% as a fraction and a decimal?
    13·2 answers
  • 2. -3xy, when x = 4 and y = 2​
    15·1 answer
  • Kevin is responsible for delivering sacks of grains to a grocery shop on the tenth floor of a departmental store. Each sack weig
    13·1 answer
  • If the mix ratio for certain chemical is 1:6 when it is mixed with water (chemical:water), how much water would be mixed with 1/
    10·2 answers
  • To take a taxi, it costs \$3.00 plus an additional \$2.00per mile traveled. You spent exactly \$20 on a taxi, which includes the
    11·1 answer
  • What is the least common multiple of the two denominators?<br> 6/8, 4/32
    13·2 answers
  • A. Define the following types of sets with examples
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!