Monique is paid p dollars monthly. She also receives a bonus of $5,500 once a year. Write an expression to
1 answer:
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Answer:
$97.15.
Step-by-step explanation:
We have been given that a musician uses his credit card to pay for a new violin that costs $2,900 and does not pay on it until the second month. The interest rate of credit card is 3.35% monthly.
We will use interest formula to solve our given problem.
, where,
,
,
,
Let us convert our given interest rate in decimal form.
Upon substituting our given values in interest formula we will get,
Therefore, the monthly interest charge at the end of the 1st month will be $97.15.
The Solution.
The given points are
The formula is
In this case,
Therefore,
Hence, the correct answer is (-1, 4) (option 3)