Ans. Since the annual rate is not compunded (for example, compounded monthly) you will have to pay in interest $27.41, and the total payment is $1,061.41
Step-by-step explanation:
Hi, since the balance is 1 month overdue, it means that you owe 2 months of interest to this obligation, but before we start finding the interest of your credit card, first let´s find the effective monthly equivalent rate for that 17% annual interest rate.
The formula is as follows.
Therefore
So your monthly interest rate is 1.317%. Now let´s find the amount of interests that you have to pay for 2 months. This is the formula.
Where "n" is the period of time in months that you owe to the financial institution. The result of that is:
This way, interest are = $27.41 and the total amount that you will have to pay is:
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Payment=Present Value+Interest=1,034+27.41=1,061.41
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Answer:
answer is 1 5/12 my sister said she did the quizz and helped me answer this
Step-by-step explanation:
have a good day!!
Answer:<u> -0.9 ; inelastic</u>
Explanation:
Given:
The average price of wheat per metric ton in 2012 = $305.75
Demand (in millions of metric tons) in 2012 = 672
The average price of wheat per metric ton in 2013 = $291.56
Demand (in millions of metric tons) in 2013 = 700
We will compute the elasticity using the following formula:
ε = 
ε = 
Now , we'll first compute 
i.e. = 
= 0.04081
Similarly for 
i.e. = 
= -0.0475
ε = 
ε = -0.859 
-0.9
we know that ;
If, ε > 1 ⇒ Elastic
ε < 1 ⇒ Inelastic
ε = 1 ⇒ unit elastic
<u><em> Here , ε = -0.859 -0.9 </em></u>
<u><em>Therefore ε is inelastic.</em></u>
Answer:
10 + 40 + 30
Step-by-step explanation:
Commutative property states that the order in which we add numbers does not affect the answer, so we just need to change the order of numbers
Answered by Gauthmath
