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Sphinxa
4 days ago
7

With a beginning balance of $2500 and no additional charges, there is no grace-period, you will just pay the minimum payment eac

h month for the next year. The APR is 24.99% and the minimum payment each month is 8% of the balance. Determine the finance charge, new balance, and minimum payment required for each of the next year, and the starting balance for month 13:
a. What is the total of the minimum payments?
b. What is the total of the finance charges?
c. How much does the starting balance decrease after one year of payments?
d. The total of your finance charges is what percent of your total payments?
e. Explain why making the minimum payment all the time is great for the credit card company, but not so great for the user.
Mathematics
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The side length, s, of a cube is x – 2y. If V = s3, what is the volume of the cube? x3 – 6x2y + 12xy2 – 8y3 x3 + 6x2y + 12xy2 +
Leona [12618]

V = x³ - 6x²y + 12xy² - 8y³

V = (x - 2y)³

   = (x - 2y)(x - 2y)(x - 2y) ( start by expanding the first pair of factors )

   = (x² - 4xy + 4y²)(x - 2y) ( multiply the terms from the first group with those in the second )

   = x³ - 4x²y + 4xy² - 2x²y + 8xy² - 8y³ ( combine similar terms )

  = x³ - 6x²y + 12xy² - 8y³




8 0
2 months ago
Read 2 more answers
Nico owns 11 instructional piano books. Two are beginner books, six are intermediate books, and three are advanced books. If two
PIT_PIT [12445]
There are 2 beginner, 6 intermediate, and 3 advanced books, totaling 11.

P(advanced) = 3/11
replaced
P(beginner) = 2/11

P(both) = 3/11 * 2/11 = 6/121 <=
8 0
3 months ago
Jenna saves $2,500 per year in an account that earns 10% interest per year, compounded annually. Jenna will have(A $411,234) (B
Leona [12618]

Response:

The result is $43623.50

Detailed explanation:

This query involves compound interest.

The formula for calculating compound interest is

A=P(1+r)^t

A = final amount

P = initial principal balance

r = interest rate

n = number of times interest applied per time period

t = number of time periods elapsed

Provided information

P= $2,500

r= 10/100= 0.1

t= 30 years

Inserting values into the compound interest formula and calculating A gives us

A=2500(1+0.1)^30

A=2500(1.1)^30

A=2500*17.449

A=$43623.50

The total amount is $43623.50

The balance in her account comes from Jenna’s (A annuity payments)

3 0
2 months ago
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