Answer:
$86.81
Step-by-step explanation:
Using the given formula, we want to compute A for ...
P = 4750
r = 0.2279
n = 365 . . . . . assuming "exact" interest
t = 1 or 30
For 1 day late:
A = 4750(1 +0.2279/365)^(365·(1/365)) = 4752.97
For 30 days late:
A = 4750(1 +0.2279/365)^(365·(30/365)) = 4839.78
The difference in these payment amounts is ...
$4839.78 -4752.97 = $86.81
You would save $86.81 in interest charges by paying only 1 day late.
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<em>Comment on the question</em>
It would be a poor choice of credit card to use one that compounds interest daily. Most do so on a monthly basis.
me to so we don’t know how long it is for you
Answer:
1 1/3
Step-by-step explanation:
3/3 = 1 Whole
Therefore 4/3 = 1 1/3
Answer:
- the way its set up its kind of confusing ↑
Step-by-step explanation:
Answer:
900
Step-by-step explanation:
4F + F =1125
5F = 1125
F=225
C=4F
C=4(225)=900
900 + 225=1125
