I believe the one you have selected is correct.
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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A two step equation for what.<span />
Answer:6/11
Step-by-step explanation:
1. rhombus
1. square
3. circle
dont actually use these answers im not 100%sure :)
