You owe $1,753.42 on a credit card with a limit of $3,000.00 at a rate of 15.5% APR. You pay $400.00 the first 2 months and then
$200.00 until the bill is paid off. You pay the bill on the due date each month.
1) Complete the table showing the decreasing debt.
2) How much is your last payment?
3) What is the total amount paid by the time you pay off the credit card?
4) What was your debt ratio at the beginning?
Be sure to include in your response:
All parts of the table are complete and calculations correct
The answers to the additional questions
Month
Principal
Interest
accrued
Payment (on
due date)
End-of-
month
balance
Answers
9514 1404 393
Answer:
see attached$33.97$1833.970.584Step-by-step explanation:
1. We cannot be sure of your table headings, so we used ones that seem to fit. The completed table is attached.
The amount of interest is computed first. It is the product of the previous balance and the monthly interest rate: 0.155/12. This amount is rounded to cents, as it would be in real life.
The remainder of the payment after interest is paid goes to reduction of the principal amount owed. That payment to principal is subtracted from the previous EOM Balance to give the new end-of-month balance.
The total of payments to date is found in the Accrued Pmt column.
__
2. For the last payment, we made note of the interest owed and the outstanding balance, and added those values to get the payment amount. The result is the final balance is zero. The last payment is $33.97.
__
3. The total of all payments is $1833.97.
__
4. The "debt ratio" is presumed to mean the ratio of the credit card balance to the credit card limit. That ratio is ...
1753.42/3000 ≈ 0.584 . . . . "debt ratio"
_____
Additional comment
Various definitions of "debt ratio" are used by different folks for different purposes. Sometimes, it means the ratio of debt to income. Sometimes it means the ratio of minimum payments due to income. Here, we're not given any income information, so we presume the ratio is supposed to mean the fraction of credit limit that is being utilized.
Related Questions
What is the value of n?
n/73=8.76
Answers
Answer:
n=639.48
Step-by-step explanation:
Answer:
639.48
Step-by-step explanation:
show the steps and name the properties you used to solve the equation below
log3=log2-log(3x+7)
Ps. if you just try to get points I will have your answer removed which takes away the points
Answers
Answer:
0.477121=−log(3x+7)+0.30103
Step 1: Flip the equation.
−log(3x+7)+0.30103=0.477121
Step 2: Add -0.30103 to both sides.
−log(3x+7)+0.30103+−0.30103=0.477121+−0.30103
−log(3x+7)=0.176091
Step 3: Divide both sides by -1.
log(3x+7)=−0.176091
Step 4: Solve Logarithm.
log(3x+7)=−0.176091
10log(3x+7)=10−0.176091
3x+7=0.666667
3x+7−7=0.666667−7(Subtract 7 from both sides)
3x=−6.333333
3x
3
=
−6.333333
3
(Divide both sides by 3)
x=−2.111111
Step-by-step explanation:hope this helps
graph the equation
y=-2x+1
Answers
Start by plotting the y-intercept at (0,1).
From that point, count "up 2, right 1" to get a second point on your graph.
If needed repeat that "up 2, right 1" from that second point to get a third point.
Draw the line that connects these 2 or 3 points.
Simplify.
1 - 4x + 3+ - 1 + 2
Enter your answer in the box.
Do not use decimals in your answer.
Basic
>
7
00
9
х
у
x2
vo
4
5
6
х
x=
XH
Answers
Answer:
4x + 4
Step-by-step explanation:
di ako sure pero i tried
Answer:
1/4 - 4x
Step-by-step explanation:
hope this helped
What is the slope from a graph:
Answers
Rise/run = slope
hope this helps :)
Marina can make 36 cupcakes in 45 minutes. how long will it take for her to make 108 cupcakes
Answers
Answer:
135 minutes
Step-by-step explanation:
marina can make 1 cupcake in 1,25 minutes so to make 108 cupcakes , marina need : 108.1,25 = 135 minutes
Select the vector along wich a translation of the plane would map point A to its image T (A)
Answers
Answer:
a
Step-by-step explanation:
it is a thanks
Convert 56∘F to ∘C.
Round to one decimal place and do not include units in your answer.
Answers
What formula are you using I'm using the one below so hopefully you're able to utilize this.
C = (F-32) ÷ 1.8
C = (56-32) ÷ 1.8
C = ( 24 ) ÷ 1.8
C = 13.3333333
Rounding one decimal place (tenths)
C = 13.3
Find the range of possible values of x satisfying:
-5 < 2x – 1 < 8
Answers
Answer:
-2 ,9/2
Step-by-step explanation:
12a
A boy is standing on the very edge of a cliff that is 58.8 m high. The boy throws a rock straight up in the air at 7.36 m/s. (a) What is the rock's velocity when it hits the ground? (use up as the positive direction)
How long (from the time it was thrown) will it take for the rock to hit the ground?
What is the total distance traveled by the rock?
Answers
Answer:
The exact same from when it went up
Step-by-step explanation:
it never said the rock was thrown at a angle besides directly up and the boy didn't move so it hit his head
Anybody? need help asap
Answers
Answer:
K=2h
k=0.5h
k=h + 1
k= 0.5h + 10
David invested $350 in an account paying an interest rate of 3 % compounded
continuously. Jack invested $350 in an account paying an interest rate of 3%
compounded quarterly. After 5 years, how much more money would David have in
his account than Jack, to the nearest dollar?
Answers
Answer:
$0 differenceStep-by-step explanation:
DavidPrincipal P = $350Interest rate r = 3% = 0.03 PA compoundedCompound number = continuousTime t = 5 yearsTotal in account after 5 years:
[tex]A=Pe^{rt}=350*e^{0.03*5} = 406.64[/tex]JackPrincipal P = $350Interest rate r = 3% = 0.03 PA compoundedCompound number n = 4Time t = 5 yearsTotal in account after 5 years:
[tex]A = P(1+r/n)^{nt}=350(1+0.03/4)^{4*5}=406.41[/tex]The difference in totals:
$406.64 - $406.41 = $0.23 ≈ $0 rounded to the nearest dollarAfter 5 years Jack will have $0.66 more money in his account than David.
What is a compound interest?This is a type of interest that is compounded after time period it is said to be compounded. After that particular period, the interest is calculated and then added with the principle. For the next duration, the interest is calculated on the sum.
Here, to find the amount of money after n years, we need to use the formula S = P(1 + r)ⁿ.
For David, S = sum of money after the total period of investment.
P = Principle = $350, r = rate of interest = 3% compounded annually, n = time period = 5 years.
Now, S = $350(1 + 3/100)⁵ = $350(1 + 0.03)⁵ = $350(1.03)⁵ = $405.75
Hence, after 5 years, David will have $405.75 in his bank account.
For Jack, S = sum of money after the total period of investment.
P = Principle = $350, r = rate of interest = 3% compounded quarterly, n = time period = 5 years.
Now, S = $350(1 + 3/ 4× 100)⁵ˣ⁴ = $350(1 + 0.0075)²⁰ = $350(1.0075)²⁰ = $406.41.
Hence, after 5 years, Jack will have $406.41 in his bank account.
Therefore, Jack will have $(406.41 - 405.75) = $0.66 more money than David.
Learn more about compound interest here: brainly.com/question/25857212
#Tag #SPJ2
A 10 2/3 inch long pipc is cut into 8 equal length pieces. How long is each piece?
Answers
Answer:
⠀
Step-by-step explanation:
<3 is a supplement of <2 and m<3= 76* Find m<2
Answers
Answer:
m < 2 = 104°
Step-by-step explanation:
Given that < 3 is a supplement of < 2, and that m < 3 = 76°, then:
To find the measure of m < 2, all you need to do is subtract the m < 3 from 180°.
m < 2 = 180° - m < 3
m < 2 = 180° - 76°
m < 2 = 104°
Evaluate.
-18.6
-18.6
-1
Enter your answer in the box.
Answers
Answer:
18.6
Step-by-step explanation:
[tex] \frac{ - 18.6}{ - 1} = 18.6[/tex]
please mark this answer as brainlist
Add.
2+(-5)
Enter your answer in the box.
Answers
Answer: -3
What is the sum of the of the infinite geometric series 0.7+0.07+0.007+...?
Answers
Answer:
a
Step-by-step explanation:
hope it works out for you
please mark brainiest
what are 2 different ways to find 12 -3?
Answers
Answer:
Way 1: Determine "what" plus 3 equals 12
Way 2: Regularly take away 3 from 12
Step-by-step explanation:
[1] Let's see if I am correct, shall we?
[tex]n+3=12[/tex]
Subtract 3 from both sides giving you...
[tex]n=9[/tex]
--
[2] Let's see if I am correct, shall we?
[tex]12-3=n[/tex]
Take away 3 from 12 which gives you...
[tex]9=n[/tex]
What is the equation of this line?
y=3/4x+2
y=4/3x−2
y=3/4x−2
y=−3/4x−2
Answers
Answer:
We need the picture
Step-by-step explanation:
Answer:
Step-by-step explanation:
Where's the line?
Simplify open parentheses x to the two thirds power close parentheses to the four fifths power
Answers
Answer:
x to the 8/15 power. When you have a power raised to another power, you multiply the exponents.
Step-by-step explanation:
HELP FASTT THIS IS DUE TODAY
Answers
Answer:
45in & 87in^2
Step-by-step explanation:
W = 7*2.5in=17.5in
L = 2*2.5in=5in
Perimeter = 2(L+W)
2(5in+17.5in)
45in
Area = L*W
17.5in*5in=87in^2
Remember, Perimeter is linear while area is squared.
Write out the sample space for the given experiment. Use the following letters to indicate each choice: O for olives, A for asparagus, B for bacon, E for eggs, V for vinaigrette, and F for French. When deciding what you want to put into a salad for dinner at a restaurant, you will choose one of the following extra toppings: olives, asparagus. Also, you will add one of following meats: bacon, eggs. Lastly, you will decide on one of the following dressings: vinaigrette, French.,
Answers
Answer:
Answer: {(MBV), (MBH) , (MEV) , (MEH) , (OBV), (OBH) , (OEV) , (OEH)}
Step-by-step explanation:
Sample space is a set that contains all the possible outcomes for an event.
For salad:
Choices for extra toppings (mushrooms, olives) =2
Choices for meats (bacon, eggs) =2
Choices for dressings (vinaigrette, honey mustard.)= 2
By Fundamental counting principal .
The number of different salads can be made= (Choices for extra toppings) x (Choices for meats ) x (Choices for dressings)
= 2 x 2 x 2 = 8
All the possible outcomes = (MBV), (MBH) , (MEV) , (MEH) , (OBV), (OBH) , (OEV) , (OEH)
Required Sample space would be : {(MBV), (MBH) , (MEV) , (MEH) , (OBV), (OBH) , (OEV) , (OEH)}
look at the photo and try to answer please
Answers
What is the y-coordinate of the plotted point?
Answers
Answer:
(3,2)
Step-by-step explanation:
run before you jump
what is the answer of 42 x 598 estimate
Answers
42-40
598-600
40x600=24000
How do you get 7:46
Answers
Which of the following values of x would not be in the domain of the function defined by f(x) = x-2/x+3?
Answers
Answer:
x = 7 is not there in the domain of the function.
Step-by-step explanation:
The value of x = -3 would not be in the domain of the function
We have the following information available from the question is:
The function is :
[tex]f(x) =\frac{x-2}{x+3}[/tex]
Determine the values of x would not be in the domain of the function
Now, According to the question:
The function is :
[tex]f(x) =\frac{x-2}{x+3}[/tex]
Let the denominator equal to zero: x + 3 = 0
Rearrange unknown terms to the left side of the equation.
x + 3 = 0
x = -3
Hence, The value of x = -3 would not be in the domain of the function.
Learn more about Function at:
https://brainly.com/question/30721594
#SPJ3
what is the answer to this problem: 7+y-x−x?
Answers
Answer:
7+y-2x
Step-by-step explanation:
-2 is the answer to this question
−3/4y=−6 helpppppppppppppppppppppppp
Answers
Answer:
Divide both -3/4y and -6 by -3/4 to solve for y.
Answer is: y=8
Finally a question I know how to do!
Simplify the expression -2(3x-3xy)+xy
Answers
Answer:
2. -6x+7xy
Step-by-step explanation:
-2(3x-3xy)+xy=-6x+6xy+xy
=-6x+7xy