Suppose that you have a $2,000 balance on a credit card with a 7.99% annual interest rate, and you can afford to pay $150 per month toward this debt. a. Find the amount of time it takes to pay off this debt. Give your answer in months and years.
b. Calculate the total amount paid over the life of the debt.
Answers
Answer:
loan is paid in 1 year 3 months
total amount paid over life = $2101.35
Step-by-step explanation:
given data
balance = $2,000
annual interest rate = 7.99%
afford to pay = $150 per month
solution
we apply formula for amount of time to pay off debit is
= 0 ...........1
here rate is per month
and t is time that is find here
put here all value
= 0
take log both side
t × log ( ) = - log (
)
t = 14.009
so loan is paid in 1 year 3 months
and
total amount paid over life of debit is
total amount paid over life = $14.009 × 150
total amount paid over life = $2101.35
Related Questions
Is this figure a parallelogram?
Justin weighs 15 pounds less than Greg weighs. Half of Greg’s weight is 75 pounds less than Justin’s weight. How much does each of them weigh
Determine the value of k so that 2x^2+kx+5=0 has each type of solutions: 2 real solutions:2complex,nonreal solutions:Exactly 1 real solution:
How to find the vertex of the,quadratic equation m^2-5m-14=0
Answers
Answer:
The solution of an equation with two variables (x and y) is an ordered pair (x, y).
Step-by-step explanation:
Answers
Answer:
Symmetric property of equality is illustrated by the following statement.
if hxa =rgi,
then;
rgi =hxa
Step-by-step explanation:
Symmetric property of equality states
if x = y
then
y = x
As per the statement:
If
by symmetric property of equality;
Therefore, symmetric property of equality is illustrated by the following statement.
Answer:
Symmetric
Step-by-step explanation:
sorry for being 3 years late
Answers
The length of the other leg of a right angle triangle is, 10.95 units
What is mean by Triangle?
A triangle is a three sided polygon, which has three vertices and three angles which has the sum 180 degrees.
Given that;
A right angle triangle has a hypotenuse of length 13 units and a leg of length 7 units.
Now, By the Pythagoras theorem, we get;
⇒ Hypotenuse² = Perpendicular² + Base²
⇒ 13² = 7² + Base²
⇒ 169 = 49 + Base²
⇒ Base² = 169 - 49
⇒ Base² = 120
⇒ Base = √120
⇒ Base = 10.95 units
Learn more about the triangle visit;
#SPJ2
(7)² + B² = 13²;
49 + B² = 169;
B² = 130;
B = 11.40
The length of the other leg is 11.40.
Answers
The bin containing 382 red, yellow, blue and green balls have a total of 32 green balls.
Let x represent the number of red balls, y represent the number of yellow balls and z represent the number of green balls.
Since ther is a total of 382 balls, hence:
x + y + z = 382 (1)
There is three times as many red balls as yellow balls:
y = 3x
3x - y = 0 (2)
52 more blue balls than yellow balls, hence:
z = y + 52
- y - z = -52 (3)
Solving equations 1, 2 and 3 gives x = 62, y = 186, z = 134
Hence there are 62 red balls, 186 yellow balls and 134 blue balls
Green balls = 62 - 30 = 32 balls
Find out more at: brainly.com/question/16763389
Final answer:
To find the number of green balls, you need to create equations using the given information. By solving the equations, the bin is determined to have 150 green balls.
Explanation:
To find the number of green balls, we need to consider the given information and create equations to solve for the number of green balls. Let's define the number of yellow balls as 'y'.
From the first statement, we know that there are 3 times as many red balls as yellow balls. Therefore, the number of red balls is 3y.
From the second statement, we know that there are 52 more blue balls than yellow balls. So, the number of blue balls is y + 52.
From the third statement, we know that there are 30 fewer green balls than red balls. So, the number of green balls is 3y - 30.
We can set up an equation: 3y + y + 52 + 3y - 30 = 382. Solving for 'y', we get y = 60.
Substituting the value of 'y' back into the equation for the number of green balls, we find that the bin has 3(60) - 30 = 150 green balls.
Learn more about Algebra here:
#SPJ11
Answers
Answer:
9 2/3
Step-by-step explanation:
50=6a-8
+8 +8
58=6a
/6 /6
9 2/3=a
B. look at the picturex represents Jimmy’s age, y represents Tyler’s age, and z represents Serena’s age
C. look at the picturex represents Serena’s age, y represents Jimmy’s age, and z represents Tyler’s age
D. look at the picturex represents Jimmy’s age, y represents Serena’s age, and z represents Tyler’s age