You owe $1,000 on a credit card that has an interest rate of 27.99% and make only the minimum payment of $20 each month. Which answer is correct?A. You will have the card paid off within a year.
B. You will never have the credit card paid off.
C. You will have it paid off within 5 years.
D. You will have the credit card paid off within 10 years.
Answers
Answer: The credit card will paid off within 10 years, therefore the correct option is D.
Explanation:
Let the number of years in which the credit card will aid of be x.
It is given that amount owed on credit card is $1000 with interest rate 27.99%.
So the amount of interest is calculated as,
The total amount have to pay is,
The minimum payment is $20 each month.
So, the credit card will paid of in 63.995 months. We know that 1 year =12 months.
Therefore, the will paid of in 5.33 years, s we can say that the credit card will paid off within 10 years, therefore the correct option is D.
Final answer:
The correct answer is not listed; it would take significantly longer than 10 years to pay off a $1,000 credit card debt at 27.99% APR by making only $20 minimum payments due to the high interest rate.
Explanation:
When dealing with credit card debt, it is crucial to understand the impact of making only minimum payments, especially when the interest rate is high. In the example provided, a credit card balance of $1,000 with an annual percentage rate (APR) of 27.99% and a minimum payment of $20 per month would take much longer than any of the given options to pay off if one were to only make minimum payments. Calculations using a debt repayment calculator or an amortization formula would show that the option of paying it off within 1, 5, or even 10 years by making minimum payments only is not feasible due to the high-interest costs that add up each month. The correct answer would be similar to the situation in which it takes about 15 years to pay off a $2,000 debt, making minimum payments will eventually lead to a payoff, but with a larger cost in interest over time.
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Answers
A(final)=16cm^2 ds/dT=6 da/dT=?
A=(s)^2 A=16cm^2 , s=sqrt(A) , s=sqrt(16) , s=4cm
da/dT=2(s)(6cm/sec) , da/dT=12cm/sec(s) , da/dT=12cm/sec (4cm)
Answer should be da/dT=48cm^2/sec
Thank you for posting your question here at brainly. I hope the answer will help you. Feel free to ask more questions here.
Answers
Answer:
adult tickets 6.9
children tickets 3.9
Step-by-step explanation:
3x + y = 24.60 L1
5x + 4y = 50.10 L2
5L1 - 3L2
15x + 5y = 123
-15x - 12y = -150.3
-7y = -27,3
y = -27,3/-7
y = 3.9
3x + y = 24.60
3x + 3.9 = 24.60
3x = 24.60 - 3.9
3x = 20.7
x = 20.7 / 3
x = 6.9
Answers
three x plus six is less than or equal to 96.
Answers
The method is to find the roots of the denominator.
x²-2x-15=x²+3x-5x-15=x(x+3)-5(x+3)=(x+3)(x-5)
Roots are x=-3 and x=5
Answer C
Answers
Answer:
well, the other answer is wrong. the solution you want is 6.601
Step-by-step explanation:
use symbolab.com
get easy math help at www.symbolab.com
b. a circle
c. a sphere
d. a point or a sphere
e. a circle or a sphere
99 points. Please provide a detailed and explanative answer.
Answers
If the two spheres are tangent, then the intersection is by definition a point.
Since the two spheres are of unequal diameter, their intersection can't be a sphere (that can only happen if the spheres are of the same diameter and at the same point, then they overlap everywhere).
Now what happens if the two spheres are drawn close to each other a random way ? Well, they will intersect along a circle [see the image attached].
If you want more explanations/..., feel free to ask.
A Circle or point is your answer
See attached pictures