Given
The daily average balance is $15.
The daily periodic interest rate = 0.06%.
The cycle consists of 30 days.
Calculate the monthly finance charge.
To justify:
Let’s denote the monthly finance fee as x.
According to the details provided:
The average daily balance = $15.
The daily periodic rate = 0.06%,
First, we convert 0.06% to decimal:
= 0.0006.
Daily finance charge = 0.0006 multiplied by 15.
= 0.009.
The number of days in the cycle totals 30.
Now, calculating the monthly finance charge:
The equation becomes:
x = 15 × 0.0006 × 30.
x = 0.009× 30.
x = $0.27.
Thus, the monthly finance charge amounts to $0.27.
Thus proved.
Response:
Total individuals Favorable = 5850
Detailed explanation:
Total Individuals = 8000
Company Anticipates those who will respond Favorably = 6000
Percentage Error = = 150
Total individuals Favorable = Company Anticipates those who will respond Favorably minus Percent Error
Total individuals Favorable = 6000-150
Total individuals Favorable = 5850.
Response: a)
b) The area has grown by 0.75 square meters.
Detailed breakdown:
Let the room's length be l
Let the room's breadth be 'b'
The area of a rectangle is calculated using the formula:
Per the problem, the room's new area equals 175% of its old area.
Thus, a) The new area of the room is determined as
This indicates a 175% increase in the room's length, resulting in a 175% increase in area.
b) The increase in square meters for Megan's room area is