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3 years ago

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On your 18th birthday you receive your first credit card (WOO HOO!!). You decide to go all out and charge a $3000 vacation on it

. The credit card charges an interest rate of 23% compounded monthly. How much will you owe if you don’t make payments for 1 year?

1 answer:

stellarik [79]3 years ago

7 0

I dont get this sorry

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A certain company recently sold five-year $1000 bonds with an annual yield of 9.75%. After how much time could they be sold for

Brut [27]

Answer:

After 7 years and 5 months.

Step-by-step explanation:

Let x represent number of years.

We have been given that a certain company recently sold five-year $1000 bonds with an annual yield of 9.75%.

We can see that the value of bond is increasing exponentially, so we will use exponential growth formula to solve our given problem.

$y=a\cdot (1+r)^x$ , where,

y = Final value,

a = Initial value,

r = Rate in decimal form,

x = Time

$9.75\%=\frac{9.75}{100}=0.0975$

Substituting given values:

$y=1000\cdot (1+0.0975)^x$

$y=1000\cdot (1.0975)^x$

Since we need the selling price to be twice the original price, so we will substitute $y=2000$ in above equation as:

$2000=1000\cdot (1.0975)^x$

$\frac{2000}{1000}=\frac{1000\cdot (1.0975)^x}{1000}$

$2=1.0975^x$

Switch sides:

$1.0975^x=2$

Take natural log of both sides:

$\text{ln}(1.0975^x)=\text{ln}(2)$

Applying rule $\text{ln}(a^b)=b\cdot \text{ln}(a)$ :

$x\cdot \text{ln}(1.0975)=\text{ln}(2)$

$\frac{x\cdot \text{ln}(1.0975)}{\text{ln}(1.0975)}=\frac{\text{ln}(2)}{\text{ln}(1.0975)}$

$x=\frac{0.6931471805599453}{0.0930348659671894}$

$x=7.45040231265$

$x\approx 7.4504$

Since x represents time in years, so we need to convert decimal part into months by multiplying .4504 by 12 as 1 year equals 12 months.

7 years and 12*0.4504023 months = 7 years 5.4 months = 7 years 5 months

Therefore, after 7 years and 5 months the company could sold the bonds for twice their original price.

8 0

3 years ago

What is the product?<br><br> (5.63 x 10^5) x 5,600,000

victus00 [196]

Answer: $3.1528 \times 10^{12}.$

Step-by-step explanation: Given expression $(5.63 \times 10^5) \times 5,600,000$ .

In order to find the product of given expression, we need to convert 5,600,000 into scientific notation, because other number is also in scientific notation.

5,600,000 = 5.6 × 10^6.

Therefore, $(5.63 \times 10^5) \times 5,600,000 =(5.63 \times 10^5) \times (5.6 \times 10^6)$ .

Now, multiplying 5.63 × 5.6 first, we get 31.528.

And 10^5 × 10^6 = 10^11.

Therefore,

$(5.63 \times 10^5) \times (5.6 \times 10^6) = 31.528 \times 10^11$ .

<h3>Or 3.1528 × 10^12.</h3>

6 0

3 years ago

What is the distance between the points (4, 3) and (1, -1) on the coordinate

Delvig [45]

The distance between the points (4, 3) and (1, -1) on the coordinate plane will be 5 units. Then the correct option is C.

<h3>What is the distance between two points?</h3>

The shortest distance (length of the straight line segment's length connecting both given points) between points ( p,q) and (x,y) is:

D² = (x - p)² + (y - q)²

The points are given below.

(4, 3) and (1, -1)

Then the distance between the points will be

D² = (4 - 1)² + (3 + 1)²

D² = 3² + 4²

D² = 9 + 16

D² = 25

D = 5 units

Then the correct option is C.

Learn more about the distance between two points here:

brainly.com/question/16410393

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7 0

2 years ago

Michael made a scale model of the Empire State Building. The building has an actual height of 381m. Michael's models used a scal

erica [24]

Answer:

7.62 cm

Step-by-step explanation:

set up a proportion then cross-multiply:

1 / 50 = x / 381

50x = 381

x = 381/50

8 0

3 years ago

Which set of sides will make a triangle

ElenaW [278]

Answer:

the third one 10 cm, 9cm 9cm

6 0

3 years ago