Your credit card has a balance of $3300 and an annual interest rate of 14%. You decided to pay off the balance over two years. If there are no further purchases charged to the card, you must pay $158.40 each month, and you will pay a total interest of $501.60. Assume you decided to pay off the balance over one year rather than two. How much more must you pay each month and how much less will you pay in total interest?

Answers

Answer 1

9514 1404 393

Answer:

$137.90 more each month$246.00 less total interest

Step-by-step explanation:

The amortization formula is ...

  A = P(r/12)/(1 -(1 +r/12)^(-12t))

for the monthly payment on principal P at annual rate r for t years. Here, we have P=3300, r = 0.14, and t=1, so the monthly payment is ...

  A = $3300(0.14/12)/(1 -(1 +0.14/12)^-12) ≈ $296.30

The payment of $296.30 is ...

  $295.30 -158.40 = $137.90 . . . more each month

The total amount paid is 12×$296.30 = $3555.60, so 255.60 in interest. This amount is ...

  $501.60 -255.60 = $246.00 . . . less total interest


Related Questions

Fiona invested $1000 at 7% compounded continuously. At the same time, Maria invested $1100 at 7% compounded daily. How long will it take for their investments to be equal in value? Assume there are 365 days in every year.

Answers

9514 1404 393

Answer:

  14,201 years

Step-by-step explanation:

The two compound interest formulas are ...

  A = P·e^(rt) . . . . . continuous compounding at rate r for t years

  A = P·(1 +r/365)^(365t) . . . . . daily compounding at rate r for t years

We went the amounts to be equal:

  1000·e^(0.07t) = 1100·(1+0.07/365)^(365t)

Dividing by 1000(1 +0.07/365)^(365t), we have ...

  ((e^0.07)/(1+0.07/365)^365)^t = 1.1

The base of the exponential on the left is ...

 ( e^0.07)/(1+0.07/365)^365 ≈ 1.00000671149321522

Taking logs, we have ...

  t×ln(1.00000671149321522) = ln(1.1)

  t = ln(1.1)/ln(1.00000671149321522) ≈ 0.09531018/(6.7114704·10^-6)

  t ≈ 14,201.09 . . . . . years

It will take about 14,201 years for the investments to be equal.

_____

Additional comment

The investment value at that time will be about $5.269·10^434. (That's a larger number than anything countable in the known universe, including energy quanta.)

These calculations are beyond the ability of many calculators, so might need to be carefully rewritten if the calculator only keeps 10 significant digits, or only manages exponents less than 100.

This shows that daily compounding is very close in effect to continuous compounding. It would take almost 150 years to make a difference of 0.1% in value.

Multiply (2x-5)(x+3)

Answers

Answer:

2x^2+x-15

Step-by-step explanation:

foil

Answer:

2x^2 + x - 15

Step-by-step explanation:

using FOIL

(2x - 5)(x + 3)

[(2x ⋅ x) + (2x ⋅ 3) + (-5 ⋅ x) + (-5 ⋅ 3)]

[2x^2 + 6x - 5x - 15]

2x^2 + x - 15

a parking lot charges $2 per hour for the first 4 hours

Answers

where's the rest of the question?

Answer:

8

Step-by-step explanation:

What is the value of g(-4)?

Answers

Answer:

A

Step-by-step explanation:

(because -4 is equal to -4 and meets the condition of the top inequality, you plug in -4 into the top function)

[tex]g(-4)=\sqrt[3]{(-4)+5}\\\\g(-4)=\sqrt[3]{1} =1[/tex]

The value of g(-4) is A. 1

I need helpppp please I don’t understand this question at alll

Answers

Answer:

17000

Step-by-step explanation:

17^1 * 10^3

17 * 10*10*10

17*1000

17000

the answer is 17,000

the exponent shows how many times you multiply the number by itself

here is an image for an explanation

hope I helped ❤

6. If gallon A has 8L of water and gallon B has 800 ml of water, calculate the total volume of water in both the gallons.​

Answers

Answer:

send me again I can't understand question

help i need help with math help if u can

Answers

Answer:

6x2 + 6y + 12

An automobile owner has 40% chance of having exactly one accident in a year and 60% chance of having no accidents in a year. There is no chance that the automobile owner incurs more than one accident in a year.
If there is an accident, the loss amount has the following distribution:
Loss Amount Probability
30 0.30
60 0.15
100 0.45
180 0.10
Suppose there is an ordinary deductible of $40 and the maximum payment by the insurer is $130.
Determine the standard deviation of the payment made by the insurer to the automobile owner.
A: 32.44
B: 33.60
C: 34.77
D: 26.78
E: 27.43

Answers

Answer:

A. 32.44

Step-by-step explanation:

Automobile owner has 40% chance for one accident in a year and 60% of zero accident in a year.

Let x is the loss of accident and y is the payment by insurer.

Y = 0 if X < 40,

x - 40 if 40 < x < 130

130 if x [tex]\geq[/tex] 170

Then, Var [y] = E y^2

Var [y] = 1052.16

E = 32.437.

The method of tree-ring dating gave the following years A.D. for an archaeological excavation site. Assume that the population of x values has an approximately normal distribution.

1,2851,1871,2221,1941,2681,3161,2751,3171,275

Required:
a. Use a calculator with mean and standard deviation keys to find the sample mean year x and sample standard deviations.
b. Find a 90% confidence interval for the mean of all tree-ring dates from this archaeological site. (Round your answers to the nearest whole number.)

Answers

Answer:

a) The sample mean is 1260 and the standard deviation is 48.

b) The 90% confidence interval for the mean of all tree-ring dates from this archaeological site is (1230, 1290).

Step-by-step explanation:

Question a:

Mean is the sum of all values divided by the number of values. So

[tex]\overline{x} = \frac{1285 + 1187 + 1222 + 1194 + 1268 + 1316 + 1275 + 1317 + 1275}{9} = 1260[/tex]

Standard deviation is the square root of the sum of the differences squared between each value and the mean, divided by the one less than the sample size. So

[tex]s = \sqrt{\frac{(1285-1260)^2 + (1187-1260)^2 + (1222-1260)^2 + (1194-1260)^2 + (1268-1260)^2 + ...}{8}} = 48[/tex]

The sample mean is 1260 and the standard deviation is 48.

Question b:

We have the standard deviation for the sample, which means that the t-distribution is used to solve this question.

The first step to solve this problem is finding how many degrees of freedom,which is the sample size subtracted by 1. So

df = 9 - 1 = 8

90% confidence interval

Now, we have to find a value of T, which is found looking at the t table, with 8 degrees of freedom(y-axis) and a confidence level of [tex]1 - \frac{1 - 0.9}{2} = 0.95[/tex]. So we have T = 1.8595

The margin of error is:

[tex]M = T\frac{s}{\sqrt{n}} = 1.8595\frac{48}{\sqrt{9}} = 30[/tex]

In which s is the standard deviation of the sample and n is the size of the sample.

The lower end of the interval is the sample mean subtracted by M. So it is 1260 - 30 = 1230

The upper end of the interval is the sample mean added to M. So it is 1260 + 30 = 1290

The 90% confidence interval for the mean of all tree-ring dates from this archaeological site is (1230, 1290).

What is the expected value of the two investments? Type the correct answer in each box. Round your answers to the nearest whole dollar value. The expected value of the Computer Co. stock is $ 5,040 0], and the expected value of the US Treasury bond is $ 5,085
THE AWNSER IS IN THE QUESTION​

Answers

Answer: $5,040 & $5,085

Step-by-step explanation:

The expected value of the Computer Co. stock is $5,040, and the expected value of the US Treasury bond is $5,085

The expected value of both the stocks Computer Co. and  US Treasury bond is  $5,062.5.

What is the weighted average?

When the average is not of any individual rather it is an average of two or more groups or sets it is called a weighted average.

To obtain the weighted average we multiply no. of individuals by their averages and sum the next group in the previous procedure and divide them by the total no. of individuals.

The expected value is the weighted average also known as the mean.

Given, The expected value of the Computer Co. stock is $ 5,040, and the expected value of the US Treasury bond is $ 5,085.

Therefore the expected value of both stocks is,

= (5040 + 5085)/2.

= $5,062.5

learn more about expected values here :

https://brainly.com/question/28561354

#SPJ2

Find the missing side lengths leave your answer as a racials simplest form

Answers

Answer:

y=3 and x=3*sqrt(3)

Step-by-step explanation:

sin(30)=y/6

1/2=y/6, y=3. As it's a right angled triangle, 6^2-3^2=x^2, x=3*sqrt(3)

Answer:

x = 3 sqrt(3)

y = 3

Step-by-step explanation:

Since this is a right triangle, we can use trig functions

sin theta = opp / hyp

sin 30 = y /6

6 sin 30 = y

6 (1/2) = y

3 = y

cos theta = adj / hyp

cos 30 = x /6

6 cos 30 =x

6 ( sqrt(3)/2) =x

3 sqrt(3) = x

Please help explanation need it

Answers

Answer:

[tex] \cos(z) = \frac{30}{34} [/tex]

What is the key difference between simple interest and compound interest, and how does this difference affect the effectiveness of each? PLSSS HELP I HAVE ONE DAY LEFT

Answers

Answer:

The key difference between simple interest and compound interest is that in simple interest, the interest is calculated based on the principal amount of the loan.

The formula is principal multiplied by time by rate divided by 100.

Compound interest on the other hand, has to do with the principal amount and accumulated interest on previous periods.

The difference affects the effectiveness of each because in SI, interest is calculated once, while in CI, there's accumulated interest.

A lady wearing a McDonalds t-shirt with a delicious-looking Big Mac on it asks which fast food restaurant is your favourite. This leads to which type of bias?


a) Response Bias

b) Sampling Bias

c) Measurement Bias

d) Non-response Bias

Answers

The correct answer is a Response Bias

find the area and perimeter please

Answers

Answer:

the area is 740 cm and the perimeter is 148

Please tell me answer not by directly step by step please don't write answer only please please please

Answers

y + z + r + x = 360

2x + 3x + 4x + x = 360

10x = 360

x = 360/10

x = 36

Now

x = 36

y = 72

z = 108

r = 144

Answered by Gauthmath must click thanks and mark brainliest

help me with this questions please!

Answers

9514 1404 393

Answer:

  r = 18

Step-by-step explanation:

Let d represent the number of districts. The given information lets us write two equations:

  3d = 27 . . . . . the number of state senators

  d +r = 27 . . . . the number of representatives

The first equation tells us ...

  d = 27/3 = 9

The the second equation tells us ...

  r = 27 -d = 27 -9 = 18

The number of at-large representatives is r = 18.

Round 5,821 to the nearest thousands place:

Answers

Answer:

6000 hope this helps

if the question is 5,422 then the round figure is 5000

but the question is 5,821 its above 5500 will be 6000

Using the order of operations, what is the last calculation that should be done to evaluate 4(8 - 6952 - 6+(-3)
4(8 - 6352 – 6 + (-3)
4(2)52 - 6+(-3)
4(2)(25) - 6+(-3)
200 - 6+(-3)
200 - (-2)

Answers

Answer:

200 + 2

Step-by-step explanation:

you know that two (2) negatives multiplying each other is = +

=200 +2

=202

Name
MATH 1342
Lab 12 - Ch.10 - Hypothesis Testing
Critical Thinking, Communication Skills, Empirical/Quantitative Skills
2. A machine is designed to fill jars with 16 ounces of coffee. A quality control inspector
suspects that the machine is not filling the jar with the full 16 ounces. A sample of 20 jars has
a mean of 15.8 ounces and a standard deviation of 0.32 ounce. Is there enough evidence to
support the inspector's claim that the mean number of ounces of coffee in the jars is less than
16? Use a = .05.
1.
Hand H
2.
3.
Critical value(s)
4.
Graph
5.
Test Statistic
6.
P-value
7.
Reject H. or Do Not Reject H.
8.
Conclusion

Answers

1 & 2:The null and alternate hypotheses are

H0 : u = 16 vs Ha: u < 16

The null hypothesis is that the mean is 16 ounces against the claim that it is less than 16 ounces.

3:The significance level is 0.05

4. Critical Value:

The critical region for significance level = 0.05  for one tailed test is z< ± 1.645

5.The test statistic

The test statistic to be used is

z= x- μ/σ/√n

z= 15.8-16/0.32/√20

z= -0.2/ 0.071556

z= -2.7950

6. The p-value ≈ 0.00259 for one tailed test.

7. Reject H0

Since the calculated value of z= -2.7950 is less than z∝= -1.645  we reject the null hypothesis.

8. Conclusion:

There is enough evidence to  support the inspector's claim that the mean number of ounces of coffee in the jars.

https://brainly.com/question/15980493

Graph

can anybody help with this ?

Answers

Answer:(

fx).(gx)=D. -40x^3+25x^2+45

Step-by-step explanation:

In a standardized normal distribution the mean is ____ while the standard deviation is ____.
A. 0; 1
B. 1; 0
C. 0; 0
D. 1; 1

Answers

Answer:

A. 0; 1

Step-by-step explanation:

Required

Mean and standard deviation of a standardized normal distribution

A standardized normal distribution is represented as:

[tex](\mu,\sigma) = (0,1)[/tex]

This implies that:

[tex]\mu = 0[/tex] -- mean

[tex]\sigma = 1[/tex] --- standard deviation

Hence, (a) is true

What will the height of the firework be 3 seconds after the launch? How many seconds after the launch will it take for the firework to fall to the same height again?

Answers

Answer:

524m

Step-by-step explanation:

The surface areas of two similar solids are 16m2 and 100 m2. The volume of the larger one is 750m3. What is the volume of the smaller one?

Answers

Answer:

48 m^3

Step-by-step explanation:

If the scale factor of linear dimensions between two solids is k, then the scale factor for areas is k^2, and the scale factor of volumes is k^3.

Let's call the solid with 16 m^2 of area solid A, and the other one solid B.

The scale factor of areas from, A to B is (100 m^2)/(16 m^2) = 25/4

In other words, multiply the area of the solid A by 25/4 to get the area of solid B.

Let's check: 16 m^2 * 25/4 = 16 * 25/4 m^2 = 4 * 25 m^2 = 100 m^2

We do get 100 m^2 for solid B, so the area scale factor of 25/4 is correct.

The area scale factor is k^2, so we have:

k^2 = 25/4

We solve for k:

k = 5/2

Now we cube both sides to get k^3, the scale factor of volumes.

k^3 = 5^3/2^3

k^3 = 125/8

Let V = volume of smaller solid, solid A.

V * 125/8 = 750 m^3

V = 750 * 8/125 m^3

V = 48 m^3

PLEASE ANSWER

The distance from the vertex of the curve to the focus is equal to _____.

Here’s the options

the distance from the vertex to the directrix

the distance from the vertex to the y-axis

the distance from the vertex to the origin

a constant

Answers

Answer:

The distance from the vertex to the directrix.

Step-by-step explanation:

According to this question, we are speaking about a parabola, which has the characteristic that the distance from the vertex to the focus is equal to the least distance from the vertex to the directrix.

Hence, the right answer is: The distance from the vertex to the directrix.

Please send only answer
Want to bring a metal rod to assemble a toy frame. All long metal rods must be used at least. How much to assemble the frame as shown in the picture

Answers

Answer:

how many times should u use the metal rod ??

Viết các số 1,2,..,100 theo một thứ tự nào đó, được dãy a1, a2,..,a100. CMR: Tổng S= |a1 - 1| + |a2 -2| + .. +|a100 -100|. Hãy tổng quát hóa bài toán

Answers

dễ v dbdbdbdbhdhdbdbdbdbdbdbdbdbdbdbdbdbdbdbdbdbdbdbdhd

Complete the equation
[tex] \sqrt{20} = \: \: \sqrt{5} [/tex]

Answers

Step-by-step explanation:

I'm not sure about it

Try it find examples

Step-by-step explanation:

so at the end 2=1

not sure but hopefully you get the idea :)

Question 2 of 10
Which pair of functions are inverses of each other?
O A. f(x) = i +15 and g(x) = 12x - 15
O B. f(x) = - 10 and g(x) = 2410
O C. f(x) = y3x and g(x) = (3) 3
O D. f(x) = 11x- 4 and g(x) = 4
SUBMIT

Answers

Answer:

option c f(x)=-10and g(x)=2410

I NEED HELP ASAP!!! convert 0.252525 to a fraction and convert 2.454545 to a fraction

Answers

Convert to fraction: 252525/1000000
Simplify: 10101/40000
Hope this helps

Answer:

1. What is 0.252525 as a fraction?

0.252525 as a fraction equals 252525/1000000

2. 2.454545 as a fraction equals 2454545/1000000

Step-by-step explanation:

To write 0.252525 as a fraction you have to write 0.252525 as numerator and put 1 as the denominator. Now you multiply numerator and denominator by 10 as long as you get in numerator the whole number.

0.252525 = 0.252525/1 = 2.52525/10 = 25.2525/100 = 252.525/1000 = 2525.25/10000 = 25252.5/100000 = 252525/1000000

And finally we have:

0.252525 as a fraction equals 252525/1000000

2. What is 2.454545 as a fraction?

To write 2.454545 as a fraction you have to write 2.454545 as numerator and put 1 as the denominator. Now you multiply numerator and denominator by 10 as long as you get in numerator the whole number.

2.454545 = 2.454545/1 = 24.54545/10 = 245.4545/100 = 2454.545/1000 = 24545.45/10000 = 245454.5/100000 = 2454545/1000000

And finally we have:

2.454545 as a fraction equals 2454545/1000000

Thanks

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