Mathematics
Mathematics, 13.10.2020 15:01, fatherbamboo

Task 2: Interest in Finance Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged $1,000 to a credit card that has a minimum payment each month equal to the interest owed. Can you figure out how much the interest rate is based on this amount? The formula for simple interest is 1=rxm, where / is the amount you will pay in interest, r is the rate at which interest will accrue, P is the principal (amount borrowed), and m is the number of times the interest is applied. a. To solve for the interest rate of your credit card, you need to understand which variables in the above formula you have. If your minimum monthly payment is $22 on the $1,000 credit card bill, which variables do you know the values of? Type your response here: b. Manipulate the formula so it will calculate the interest rate you are paying instead of the amount of money you are paying. Type your response here:

answer
Answers: 3

Other questions on the subject: Mathematics

image
Mathematics, 21.06.2019 19:30, sb6998
In need of in the diagram, ∠abc is a right angle. ∠dbc = 30°27'40". find the measure of ∠abd.
Answers: 1
image
Mathematics, 21.06.2019 20:30, donnafranks2003
If g^-1(x) is the inverse of g (x) which statement must be true
Answers: 3
image
Mathematics, 21.06.2019 20:30, gamelaza431
At the "no mutants allowed" country farm, every sheep has 4 legs, every chicken has two legs, and all animals have only 1 head. asked to count how many sheep and chicken are in the fields, a farm boy reports back that there are 140 feet and 50 heads. how many sheep and chicken are there? there are sheep and chicken at the farm.
Answers: 1
image
Mathematics, 21.06.2019 23:30, gugu1004
What is the value of x? enter your answer in the box.
Answers: 1
Do you know the correct answer?
Task 2: Interest in Finance Interest is a concept familiar to most people: every credit card in exis...

Questions in other subjects: