1/16 * 6 = 6/16 or reduced to 3/8
Answer:
$1545.65.
Step-by-step explanation:
We have been given that Victor has a credit card with an APR of 13.66%, compounded monthly. He currently owes a balance of $1,349.34.
To solve our given problem we will use compound interest formula.
, where,
A = Final amount after t years,
P = Principal amount,
r = Interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.
Let us convert our given interest rate in decimal form. 
Upon substituting our given values in compound interest formula we will get,




≈ $
Therefore, Victor will owe an amount of $1545.65 after one year.
Answer:
Results are below.
Step-by-step explanation:
Giving the following information:
Monthly deposit= $100
Interest rate= 0.06/12= 0.005
Number of periods= 12*5= 60 months
<u>a)</u>
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly deposit
FV= {100*[(1.005^60) - 1]} / 0.005
FV= $6,977
b) <u>If the deposit is at the beginning of the month, the interest is compounded one more period</u>. We need to use the following formula:
FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}
FV= 6,977 + {[100*(1.005^60)] - 100}
FV= 6,977 + 35
FV= $7,012
Answer:
-3.
Step-by-step explanation:
= 6(Sum+8) = 30
= 6Sum + 48 = 30
= 6Sum = -18
= Sum = -3
Hope this helps you :)
Answer:
470(32-n)
Step-by-step explanation: