Allison accumulated $7,000 in credit card debt. If the interest rate is 15% per year and she does not make any payments for 3 years, how much will she owe on this debt in 3 years for quarterly compounding? Round your answer to two decimal places.

Allison will owe $10,888.50 in 3 years

Step-by-step explanation:

FV=PV(1+r/n)^nt

Where,

PV=$7000

r=15%=0.15

n=quarterly=4

t=3 years

FV=PV(1+r/n)^nt

=7000(1+0.15/4)^4*3

=7000(1+0.0375)^12

=7000(1.0375)^12

=7000(1.5555)

=10,888.50

To 2 decimal places=$10,888.50

Allison will owe $10,888.50 in 3 years

$10,888.20

Step-by-step explanation:

Order of Operations: BPEMDAS

Compounded Interest Rate Formula: A = P(1 + r/a)ᵃᵇ

A = Final Amount

P = Initial Amount

r = rate

a = Compounded number

b = time

Step 1: Define

P = 7000

r = 15% = 0.15

a = 4

b = 3 years

Step 2: Solve for A

At the end of the 3 years that elapsed, Allison will have to pay a final debt of $10,888.20.

ddsf

step-by-step explanation:

dfs

x=-2

infinite number of lines, so there is an infinite number of equations.

step-by-step explanation:

there are an infinite number of line that passes through the point (-2,5)

x=-2   is one line that passes through the point

y = 5 is another line that passes through the point

(these two lines are perpendicular to each other).

since the number of   numbers are infinite and the slope is the ratio of two numbers,(change in y over change in x) we can have an infinite number of slopes.     our only condition is that it passes through the point (-2,5)