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lesantik
2 months ago
3

3. You owe $1,350.00 on a credit card with a 14.25% APR. You pay $300.00 at the beginning of the month. How much interest do you

save by paying at the beginning of the month versus at the end of the month?
$
4. Imagine you put the $300 in a savings account earning 3.0% APR instead of using it to pay down your credit card as in Problem 3. What is the difference between the interest your savings account would earn that month vs. the interest that would accrue on your credit card that month if you didn't use the $300 to pay it down?
$

Mathematics
2 answers:
tester [12.3K]2 months ago
0 0
1) To determine the monthly interest rate, divide 14.25% by 12, which yields 1.1875%.
Paying at the start of the month:
1350 -300= $1050
Paying at the end of the month:
1350+ (1350*1.1875%)-300= $1,066.03
The savings amount to
1066.03-1050=$16.03 saved.

2) Placing $300 in a savings account at an APR of 3% yields 300*(3%/12) = $0.75 in one month.
Conversely, $300 charged on a credit card at an APR of 14.25% would incur a cost of 300*(14.25%/12) = $3.56 over the month. Thus, if you spent $3.56 on the credit card instead of using the $300 to pay down your debt, you effectively lost $2.81.

Hope this helps!:-)
Zina [12.3K]2 months ago
0 0

Response:

Detailed explanation:

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3 months ago
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What are the eight-digit grid coordinates for benchmark 86 (circled in red)?
lawyer [12517]

Answer:

An eight-digit grid coordinate allows for precision within 10 meters.

Step-by-step explanation:

Grid coordinates are designed to direct accurately to a specific location by using a map that includes equally spaced vertical and horizontal lines, each assigned numbers to outline a place. The intersection of these vertical and horizontal lines has unique identifiers and creates small sections called grid squares.

The precision increases with the number of digits in the coordinate; an eight-digit designation gives accuracy to the nearest 10 meters.

3 0
2 months ago
Return to the credit card scenario of Exercise 12 (Section 2.2), and let C be the event that the selected student has an America
zzz [12365]

Answer:

A. P = 0.73

B. P(A∩B∩C') = 0.22

C. P(B/A) = 0.5

P(A/B) = 0.75

D. P(A∩B/C) = 0.4

E. P(A∪B/C) = 0.85

Step-by-step explanation:

Denote A as the event of a student having a Visa card, B as the event of holding a MasterCard, and C as the event of owning an American Express card. Additionally, let A' indicate the event of not having a Visa card, B' signify not having a MasterCard, and C denote the event of not possessing an American Express card.

Thus, with the given probabilities, we can determine the following probabilities:

P(A∩B∩C') = P(A∩B) - P(A∩B∩C) = 0.3 - 0.08 = 0.22

Here, P(A∩B∩C') refers to the chance that a student has both a Visa and MasterCard but does not own an American Express, P(A∩B) indicates the probability that a student possesses both a Visa and a MasterCard, and P(A∩B∩C) represents the likelihood that a student has a Visa, MasterCard, and American Express. Similarly, we can find:

P(A∩C∩B') = P(A∩C) - P(A∩B∩C) = 0.15 - 0.08 = 0.07

P(B∩C∩A') = P(B∩C) - P(A∩B∩C) = 0.1 - 0.08 = 0.02

P(A∩B'∩C') = P(A) - P(A∩B∩C') - P(A∩C∩B') - P(A∩B∩C)

                   = 0.6 - 0.22 - 0.07 - 0.08 = 0.23

P(B∩A'∩C') = P(B) - P(A∩B∩C') - P(B∩C∩A') - P(A∩B∩C)

                   = 0.4 - 0.22 - 0.02 - 0.08 = 0.08

P(C∩A'∩A') = P(C) - P(A∩C∩B') - P(B∩C∩A') - P(A∩B∩C)

                   = 0.2 - 0.07 - 0.02 - 0.08 = 0.03

A. The likelihood that the selected student holds at least one of the three card types is calculated as follows:

P = P(A∩B∩C) + P(A∩B∩C') + P(A∩C∩B') + P(B∩C∩A') + P(A∩B'∩C') +              

     P(B∩A'∩C') + P(C∩A'∩A')

P = 0.08 + 0.22 + 0.07 + 0.02 + 0.23 + 0.08 + 0.03 = 0.73

B. The probability that the chosen student possesses both a Visa and a MasterCard without an American Express card can be represented as P(A∩B∩C') equaling 0.22

C. P(B/A) represents the chance that a student holds a MasterCard provided they have a Visa. This is calculated as:

P(B/A) = P(A∩B)/P(A)

By substituting in the values, we find:

P(B/A) = 0.3/0.6 = 0.5

In a similar manner, P(A/B) represents the probability a student has a Visa given they possess a MasterCard, calculated as:

P(A/B) = P(A∩B)/P(B) = 0.3/0.4 = 0.75

D. For a student with an American Express card, the likelihood they also hold both a Visa and a MasterCard is expressed as P(A∩B/C), calculated as:

P(A∩B/C) = P(A∩B∩C)/P(C) = 0.08/0.2 = 0.4

E. If the student has an American Express card, the probability they possess at least one of the other two card types is denoted as P(A∪B/C), computed as:

P(A∪B/C) = P(A∪B∩C)/P(C)

Where P(A∪B∩C) = P(A∩B∩C)+P(B∩C∩A')+P(A∩C∩B')

Consequently, P(A∪B∩C) equals 0.08 + 0.07 + 0.02 = 0.17

Ultimately, P(A∪B/C) equals:

P(A∪B/C) = 0.17/0.2 =0.85

4 0
1 month ago
Tricia is going to write Patterns A , B , and C using the rule add 15. The first number in each pattern is shown below . Use the
Inessa [12570]

Response:

The number 40 can be found in Pattern B. Additionally, following the rule, each sequence will expand.

Detailed breakdown:

Let’s build each sequence. Recall that the guideline is to "add 15" to generate each sequence starting from the provided initial number.

Pattern A.

5+20+35+50+65+80+95+110+125+140+155+170+185+200+215+...

Pattern B.

10+25+40+55+70+85+100+115+130+145+160+175+190+205+...

Pattern C.

15+30+45+60+75+90+115+130+145+160+175+190+205+...

You can see that the number 40 appears in Pattern B. Moreover, per the rule, each pattern will show an increase.

8 0
2 months ago
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