EAR = (1+APR/n)^n -1, where n is the number of compounding periods per year. Benny’s credit card APR is 21.55% compounded daily. What is his actual interest rate per year—that is, his EAR?

His actual interest rate per year is 24.04%.

Step-by-step explanation:

Given : where n is the number of compounding periods per year. Benny’s credit card APR is 21.55% compounded daily.

To find : What is his actual interest rate per year—that is, his EAR?

Solution :

The formula of EAR is  

Here, APR = 21.55%=0.2155

n=365 (compounded daily)

Substitute the value,

Therefore, His actual interest rate per year is 24.04%.

a.) list the factors of 40.

1/2/4/5/8/10/20/40

b.) list the factors of 40 that represent the number of cans that could be on each shelf.

5

c.) how many different arrangements of cans are possible?

just one because if you put more on one shelf you will go way over 40 and the cabinet will probably break.

d.) what are the possible arrangements of the cans?

put 5 cans on each self to reach 40 cans in total.

e.) which arrangement uses all the shelves?

5 because you can put 5 cans on each shelf, and since there are 8 shelfs you are equally going to get 40 cans.