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aev [14]
3 years ago
7

Marco Invests $760 into a savings account. The account pays 4% simple interest.

Mathematics
1 answer:
Lemur [1.5K]3 years ago
5 0

Answer:

Step-by-step explanation:

The answer is 43,796

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The nominal scale by definition only deals with non-numeric or non-quantitative variables or where numbers have no numerical value. The nominal scale uses tags or labels instead of number to classify or identify an object being measured.

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Write and solve an inequality for x.
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x + 2 > 5

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Which statements are true? Check all that apply.
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Ahat [919]

James's current balance on his credit card is <u>$900.</u>

This amount represents the card's balance before the current charge of $1,500 and the finance charge of $60.

<h3>What is a credit card balance?</h3>

A credit card balance is the amount of the charges made on a credit card, including the finance charges, and therefore, owed to a credit card company.

<h3>Data and Calculations:</h3>

Current current balance = $x

APR (Annual Percentage Rate) of interest = 30%

Monthly APR = 2.5% (30%/12)

Current purchase for the month = $1,500

Finance charge for the month = $60

Finance charge for the current purchase = $37.50 ($1,500 x 2.5%)

Finance charge for the current balance = $22.50 ($60 - $37.50)

The current balance that attracts the finance charge of $22.50 will be $900 ($22.50/2.5%).

<u>Alternatively:</u>

Since the monthly APR is 2.5% and the finance charge is $60 for the month, the balance at the end of the month is $2,400 ($60/2.5%).

Thus, the current balance on James' credit card is $900 ($2,400 - $1,500) while the end-of-the-month balance is $2,460 ($900 + $1,500 + $60).

Learn more about credit card balance at brainly.com/question/6872962

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