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4 years ago

7

Jackson has a credit card with a 15% interest rate. His dad has a credit card with a 5% interest rate. If they both charge $1,00

0, how much more will Jackson end up paying?

1 answer:

astra-53 [7]4 years ago

5 0

Jackson will be paying $100 more than his father.

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Jack has deposited $6,000 in a money market account with a variable interest rate. The account compounds the interest monthly. J

ruslelena [56]

Answer: $13,161.264

Explanation:

interest rate after first 3 months 9% for 3 months.

I = P x R x T / 100

Where;

I= interest

P= principal

R= interest Rate

= Time

$6000 x 9% x 3 / 100

= $ 1620

Interest for next 3 months 12%

P= $6000 + $1620 = $7620

I= 7620 x 12% x 3 /100 = $2,743.2

Interest after for last 3 months 9%

P= $7620 + $2743.2 = $10,363.2

I = $10,363.2 x 9% x 3 / 100

= $2798.064

Principal after 9months

= $13,161.264

4 0

3 years ago

During the final or phaseout stage of the project life-cycle, __________ is the dominant goal of many project managers.

Anarel [89]

During the final or phaseout stage of the project life-cycle, scope is the dominant goal of many project managers.

6 0

3 years ago

Cory Manciagli is planning to retire in 20 years. Money can be deposited at 6% compounded quarterly. What quarterly deposit must

Vitek1552 [10]

Answer:

It will require quarterly deposits of $ 171.06

Explanation:

first we need to calcualte the present value of the retirement funds

and then, we will calcualte the PTM to achieve it.

1) present value of 40,000 semiannually over 10 years descounted at 6% cuarterly

$PTM \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

PTM 40,000 dollars

time 20 810 years x 2 payment per year)

rate 0.12 (0.06 x 2)

$40000 \times \frac{1-(1+0.12)^{-20} }{0.12} = PV\\$

PV $298,777.75

Now, we calcualte which PTM generate this amount over the course of 20 years

$PV \div \frac{1-(1+r)^{-time} }{rate} = C\\$

PV $298,777.74

time 80 (20 years x 4 quarter per year)

rate 0.06

$298777.75 \div \frac{1-(1+0.06)^{-80} }{0.06} = C\\$

C $ 171.063

8 0

4 years ago

Suppose Kristen goes to her bank and withdraws $250 of currency from her demand deposit account. Everything else held constant,

sveta [45]

Answer:

Please see attachment

Explanation:

Please see attachment

7 0

3 years ago

Nothing . Just nothing

Wittaler [7]

ok..have a good night bro! thnks for this! :)

Explanation:

Stay safe!.❤️

3 0

2 years ago

Read 2 more answers