A credit card had an APR of 15.98% all of last year, and compounded interest daily. What was the credit card's effective interest rate last year?


A.

17.32%


B.

17.20%


C.

16.96%


D.

16.62%

Answers

Answer 1

Answer:

Option(B) is the correct answer to the given question.

Step by Step Explanation

We know that

[tex]A\ =\ P \ *(\ 1+\ \frac{r}{n} \ ) ^{nt}[/tex]

Here A=amount

r=15.98%=0.1598

n=365

t=1

Putting these values into the equation

[tex]A\ =\ P \ *(\ 1+\ \frac{0.1598}{365} \ ) ^{365}[/tex]

[tex]A\ =\ P \ *(\ 1+\ 0.000437) ^\ { 365}[/tex]

[tex]A\ =\ P \ *(\ 1.000437 ) ^{365}[/tex]

[tex]A\ =1.17288 P[/tex]

Now we find the interest

I=[tex]1.17288P\ -P\\=\ 0.17288P\\\ ~ 0.1720P[/tex]

Therefore effective interest rate of the last year can be determined by

[tex]\frac{0.1720P}{P}[/tex]

=0.1720 *100

=17.20%

Answer 2

Answer:

17.32%

Step-by-step explanation:


Related Questions

what value of x makes the equation true ? 9.68x + 21.6 -6.23x = 2.3x + 17​

Answers

Answer:

-4 please brainliest me

Step-by-step explanation:

9.68x+21.6-6.23x=2.3x+17

lets move it to the left

9.68x+21.6-6.23x-(2.3x+17)=0

Then, We add all the numbers together, and all the variables

3.45x-(2.3x+17)+21.6=0

We get rid of parentheses

3.45x-2.3x-17+21.6=0

We add all the numbers together, and all the variables

1.15x+4.6=0

We move all terms containing x to the left, all other terms to the right

1.15x=-4.6

x=-4.6/1.15

x=-4

x= -8 makes the equation true.

What is Equation?

Equations are mathematical statements with two algebraic expressions flanking the equals (=) sign on either side.

It demonstrates the equality of the relationship between the expressions printed on the left and right sides. LHS = RHS is a common mathematical formula.

Coefficients, variables, operators, constants, terms, expressions, and the equal to sign are some of the components of an equation. The "=" sign and terms on both sides must always be present when writing an equation.

Given:

9.68x + 21.6 -6.23x = 2.3x + 17​

Now, solving for x

9.68 x - 6.23x - 2.3x = 17 - 21.6

1.15x= -4.6

x= -4.6 / 1.15

x= -8

Hence, x= -8 makes the equation true.

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Help asap giving branlist!!!

Answers

Answer:

Option 2

Step-by-step explanation:

Because the slope is -0.09 the answer is the second option. A negative slope means a decrease.

FIND P(NOT 6) WHEN YOU ROLL A STANDARD NUMBER CUBE THEN DESCRIBE THE LIKELIHOOD OF THE EVENT WRITE IMPOSSIBLE ,UNLIKELY , EQUALLY LIKELY , LIKLEY OR CERAIN

Answers

Answer: LIKLEY

Step-by-step explanation:

Formula : Probability [tex]=\dfrac{\text{Number of favorable outcomes}}{\text{Total outcomes}}[/tex]

A standard cube has six numbers on it (1,2,3,4,5 and 6).

P( NOT 6) =[tex]\dfrac{\text{Numbers that are not 6}}{\text{Total numbers}}[/tex]

[tex]=\dfrac{5}{6}=0.8333[/tex]

We know that when the probability of any event lies between 0.5 and 1then the event is said to be likely to happen.

Since , P(not 6)=0.8333 which lies between 0 and 0.5.

That means, it is likely to happen.

Note :

When probability of having A = 0 , we call A as uncertain event.

When probability of having A = 1 , we call A as certain event.

When probability of having A = 0.5 , we call A as equally likely event.

When probability of having A lies between 0 and 0.5 , we call A as unlikely event.

When probability of having A lies between 0.5 and 1 , we call A as likely event.

A typical classroom is a rectangle with dimensions of 20 feet wide by 25 feet long, and the area needed for each person in the room is approximately 28 square feet, what fraction of the total area in a classroom is needed for each person? What is the largest number of people that would fit in an average sized classroom while practicing good social distancing?

Answers

Answer:

A fraction of 0.056 of the classroom is needed for each student.

A typical classroom can acomodate up to 17 persons while practicing good social distancing.

Step-by-step explanation:

We have a classroom that is a recatngle with dimensions of 20 feet wide by 25 feet long.

The total area of the classroom is:

[tex]A=w\cdot l=20\cdot25=500[/tex]

As the area of the classromm is 500 square feet and we need 28 square feet for each student, the fraction that is needed for each student is:

[tex]f=\dfrac{A_{\text{student}}}{A_{\text{classroom}}}=\dfrac{28}{500}=0.056[/tex]

A fraction of 0.056 of the classroom is needed for each student.

The largest number of students that would fit in an average sized classroom while practicing good social distancing can be calculated dividing the area of the classroom by the area needed for each student. This is equal to the inverse of the fraction calculated previously:

[tex]n=\dfrac{1}{f}=\dfrac{1}{0.056}\approx17.86[/tex]

A typical classroom can acomodate up to 17 persons while practicing good social distancing.

Suppose the demand for a certain brand of a product is given by ​D(p)equals=StartFraction negative p squared Over 116 EndFraction−p2116plus+200200​, where p is the price in dollars. If the​ price, in terms of the cost​ c, is expressed as p (c )equals 2 c minus 10p(c)=2c−10​, find the demand function in terms of the cost.

Answers

Answer:

The demand function in terms of cost is  [tex]D(c) = [\frac{[40c- 100 -4c^2 \ ])}{116} ] + 200[/tex]

Step-by-step explanation:

From the question we are told that

    The demand for a certain brand of a product is  

 [tex]D(p) = \frac{-p^2}{116} + 200 ----(1)[/tex]  

 The​ price, in terms of the cost​ c, is expressed as  

     [tex]p(c) = 2c -6 -----(2)[/tex]

Now substituting equation 2 into equation 1

        So

              [tex]D(c) = - [\frac{(2c -10 )^2)}{116} ] + 200[/tex]

             [tex]D(c) = - [\frac{[4c^2 + 100 -40c \ ])}{116} ] + 200[/tex]

              [tex]D(c) = [\frac{[40c- 100 -4c^2 \ ])}{116} ] + 200[/tex]

           

         

Observe the expression below and select the true statement(s).
3y(7 + 2x) + 9ry - 10
The "(7 + 2x)" in the first term is a factor.
The "9" in the second term is a coefficient.
The "By" in the first term is a factor.
The "10" in the third term is a coefficient.
The "2" in the first term is a constant.
The "x" in the second term is an exponent​

Answers

Answer: The 9 in the second term is a coefficient that is true. I think that is the only thing that is true. There may be one more thing that is true.

The 10 in the third term is not  a coefficient.

The 2 is not a constant

the x is not an exponent.

those are the ones that I'm sure about.

Please correct anything if i'm wrong.

:)

334% of what number is 33,400

Answers

Answer:

10000

Step-by-step explanation:

3.34x=33400

x=10000

The number is x=10000.

What is percentage?

A percentage is a number or ratio that can be expressed as a fraction of 100. A percentage is a number or ratio expressed as a fraction of 100. It is often denoted using the percent sign, "%", although the abbreviations "pct.", "pct" and sometimes "pc" are also used. A percentage is a dimensionless number; it has no unit of measurement.

here, we have,

let, the number = x

now, we get,

3.34x=33400

x=10000

Hence, The number is x=10000.

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A linear track begins at 0 meters and has a total distance of 100 meters to the finish line. Juliet starts at the 100 meter mark while practicing for a race. After running 45 meters how far is she from the beginning of the track?

Answers

Answer:

It’s D, 55.

Step-by-step explanation:

After running 45 meters, Juliet runs 55 meters from the beginning of the track

What’s the correct answer for this question?

Answers

Answer:

The last option is the correct choice 33.5

Step-by-step explanation:

[tex]V=\pi r^2\frac{h}{3} \\=\pi 2^2\frac{8}{3} \\=33.51\\=33.5[/tex]

Answer:

D

Step-by-step explanation:

In the attached file

What value of b will cause the system to have an infinite number of solutions?

A system of equations. y equals 6 x plus b. negative 3 x plus StartFraction one-half EndFraction y equals negative 3.

A coordinate grid with a line labeled negative 3 x plus StartFraction one-half EndFraction y equals negative 3 and passes through the points (1, 0) and (0, negative 6).

-6
-3
3
6

Answers

Answer:

-6 on edge

Step-by-step explanation:

The value of b that causes the system of equations to have infinite solutions will be: b = -6

System with infinite solutions:

A system of linear equations will have infinite solutions only when both equations represent the same line.

In this case our equations are:

y = 6x + b

-3x + (1/2)*y = -3

So the value of b needs to be such that these two equations are equal

Let's isolate y in the second equation:

(1/2)*y = -3 + 3x

y = -3*2 + 3x*2 = -6 + 6x

Then we must have:

6x - 6 = 6x + b

-6 = b

Thus, the value of b that causes the system to have infinite solutions is b = -6.

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Given cot ø = 4/3. Find the other two reciprocal trigonometic ratios. 1) scs 2) sec

Answers

Answer:

csc ø = 5/3 ; sec ø = 5/4

Step-by-step explanation:

cot ø = adj/opp

adj = 4

opp = 3

after that, we must find the hypotenuse by using phytagoras theorem

hpy² = adj² + opp²

hpy² = 4² + 3²

hpy² = 25

hpy = 5

now let's find the other

csc ø (not scs) = hyp/opp = 5/3

sec ø = hyp/adj = 5/4

A rectangular field has an area of 1,764 m(squared). The width of the field is 13 m more than the length. What is the perimeter of the field?

Answers

Answer:

170m

Step-by-step explanation:

The answer to the above question is letter d which is 170 m. To get the 170 m, kindly check the below solution: 

x^2 + 13x = 1764 so x = -49 and 36, we take 36 as its the positive value. And the other side is 49. Now use 2(l+b) to find perimeter. You get (36+49)*2 = 170

is –68 + 90 positive or negative?

Answers

Answer:

22. positive

Step-by-step explanation:

–68 + 90

22

It is positive 22 as -68 + means it will decrease as your making it warmer if that makes sense?
Therefore meaning it goes into the positive numbers and making the answer 22!

Parallelogram L M N O is shown. Angle M is (3 x minus 55) degrees, angle N is (5 y) degrees, and angle O is (2 x) degrees. In parallelogram LMNO, what are the values of x and y?

Answers

Answer:

x=55,y=14

Step-by-step explanation:

<M = <{opposite angles of a parallelogram are congruent and equal}

Hence 3x-55 = 2x=>3x-2x= 55 =>x=55

Simarly;

M+N=180°{ sum of angles in a parallelogram is 180°}

N= 180°-M=>N=180-(3x-55)=180-(3x55-55)= 180- 110=70°

N=70°=>5y=70=>y=70/5=14

therefore x=55,y=14

Answer:

55 and 14

Step-by-step explanation:

i just took the test

The average score of all golfers for a particular course has a mean of 70 and a standard deviation of 3.5. Suppose 49 golfers played the course today. Find the probability that the average score of the 49 golfers exceeded 71.

Answers

i don’t know the answer to that sorry

How do I explain this answer

Answers

Answer:

199

Step-by-step explanation:

i dont know

Please help. I’ll mark you as brainliest if correct!

Answers

Answer:

product = 40

Step-by-step explanation:

The conjugate of (-2 + 6i) is (-2 - 6i)

You just need to change the sign

(-2 + 6i) (-2 - 6i)

Expand:

4 + 12i + -12i - [tex]36i^{2}[/tex]

4 + 12i + -12i + 36

product = 40

IQ levels: A study investigated whether there are differences between the mean IQ level of people who were reared by their biological parents and those who were reared by someone else. What is the null hypothesis in this case

Answers

Answer:

The null hypothesis: there is no difference between the mean IQ level of people who were reared by their biological parents and those who were reared by someone else.

Step-by-step explanation:The null hypothesis can be a general statement mostly in statistics that proposes no difference or no relationship between 2 phenomena etc

Researchers always carry out a study to test against the null hypothesis ie the opposite of the null hypothesis showing that there is a difference. In this study, the researchers aim is to establish that there is a difference between the mean IQ level of people who were reared by their biological parents and those who were reared by someone else. This goes against the null which states that

there is no difference between the mean IQ level of people who were reared by their biological parents and those who were reared by someone else.

PLEASE HELPPPPPPPPPP <3

Answers

Answer:

y = 1/2x + 4

Step-by-step explanation:

Slope intercept form is y = mx + b, where m is the slope and b is the y-intercept.

When we count rise over run, we find that the slope is 1/2

y = 1/2x + b

The line intersects the y-axis at 4, so the y-intercept is 4.

y = 1/2x + 4

I hope this helps :))

After the accounts have been adjusted at December 31, the end of the fiscal year, the following balances were taken from the ledger of Pioneer Delivery Services Co.:
Kerry Buckner, Capital. $9,556,300
Kerry Buckner, Drawing 80,000
Wages Expense 1,878,400
Rent Expense 1,415,500
Supplies Expense 125,000
Fees Earned 30,600
Miscellaneous Expense 22,100
Journalize the two entries required to close the accounts.

Answers

Jhdbdhdhrkhbe’h546;&7;;$4

Find the mode for the following distribution.
Number Frequency
16
3
20
5
24
9
28
7
32
7
36
5
40
3
24
28
32
28 and 32

Answers

Answer:

28 and 32

Step-by-step explanation:

they have the most

A high school student took two college entrance exams, scoring 1070 on the SAT and 25 on the ACT. Suppose that SAT scores have a mean of 950 and a standard deviation of 155 while the ACT scores have a mean of 22 and a standard deviation of 4. Assuming the performance on both tests follows a normal distribution, determine which test the student did better on.

Answers

Answer:

Due to the higher z-score, he did better on the SAT.

Step-by-step explanation:

When the distribution is normal, we use the z-score formula.

In a set with mean [tex]\mu[/tex] and standard deviation [tex]\sigma[/tex], the zscore of a measure X is given by:

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

Determine which test the student did better on.

He did better on whichever test he had the higher z-score.

SAT:

Scored 1070, so [tex]X = 1070[/tex]

SAT scores have a mean of 950 and a standard deviation of 155. This means that [tex]\mu = 950, \sigma = 155[/tex].

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{1070 - 950}{155}[/tex]

[tex]Z = 0.77[/tex]

ACT:

Scored 25, so [tex]X = 25[/tex]

ACT scores have a mean of 22 and a standard deviation of 4. This means that [tex]\mu = 22, \sigma = 4[/tex]

[tex]Z = \frac{X - \mu}{\sigma}[/tex]

[tex]Z = \frac{25 - 22}{4}[/tex]

[tex]Z = 0.75[/tex]

Due to the higher z-score, he did better on the SAT.

The radius of a circle is 2.6 in. Find the circumference
to the nearest tenth.

Answers

Answer:

16.

Step-by-step explanation:

since given the radius and the formula of the circumference of a circle is 2pie*r

A fuel oil company claims that one-fifth of the homes in a certain city are heated by oil. Do we have reason to believe that fewer than one-fifth are heated by oil if, in a random sample of 1000 homes in this city, 136 are heated by oil? Please show all 4 steps of the classical approach clearly using α = 0.05.

Answers

Answer:

Yes, we have reason to believe that fewer than one-fifth are heated by oil.

Step-by-step explanation:

A one-sample proportion test is to be performed to determine whether fewer than one-fifth of the homes in a certain city are heated by oil.

The hypothesis can be defined as follows:

H₀: The proportion of homes in a certain city that are heated by oil is not less than one-fifth, i.e. p ≥ 0.20.  

Hₐ: The proportion of homes in a certain city that are heated by oil is less than one-fifth, i.e. p < 0.20.

The information provided is:

n = 1000

x = 136

α = 0.05

Compute the sample proportion as follows:

[tex]\hat p=\frac{x}{n}=\frac{136}{1000}=0.136[/tex]

Compute the test statistic as follows:

[tex]z=\frac{\hat p-p}{\sqrt{\frac{p(1-p)}{n}}}[/tex]

  [tex]=\frac{0.136-0.20}{\sqrt{\frac{0.136(1-0.136)}{1000}}}\\\\=-5.9041\\\\\approx -5.90[/tex]

The test statistic value is, -5.90.

Decision rule:

Reject the null hypothesis if the p-value of the test is less than the significance level.

Compute the p-value as follows:

[tex]p-value=P(Z<-5.90)\\\\=1-P(Z<5.90)\\\\=1-(\approx 1)\\\\=0[/tex]

The p-value of the test is, 0.

p-value = 0 < α = 0.05

The null hypothesis will be rejected at 5% level of significance.

Conclusion:

The proportion of homes in a certain city that are heated by oil is less than one-fifth.

help me................​

Answers

Answer:

x = 5. y = 4

Step-by-step explanation:

7x - 4 = 31

7x = 35

x = 5

4y + 8 = 24

4y = 16

y = 4

X=5/ y=4

7x-4=31. 4y+8=24
+4. +4. -8 -8
7x=35. 4y=16
/7 /7. /4. /4
X=5. Y=4

Solve:

|x-7|<-1.

zero solutions
one solution
infinite solutions
all real numbers

Answers

Step-by-step explanation:

In mathematics, the absolute value |x|, is the non-negative result of x without regard to its sign.

An absolute function, can never have a negative result.

By this alone, you can solve the question because the inequality is false, and therefore there are zero solutions.

Please see the attachment of f(x) = |x - 7|.

When you look at the graph, you can easily confirm that there is no value which can result in a negative y- coordinate like -2. In fact, that is the whole purpose of any absolute value or function. The result of an absolute function can never be negative.

write any two numbers less than 15 , which has exactly four factors​

Answers

Answer:

4 can be divided by 1 and 2

6 can be divided by 1 and 2

12 is wrong because it can be divided by 1,2, and 4 so it has 6 factors instead of 4

Step-by-step explanation:

What role did youth play in the Civil Rights Movement?

Answers

Answer:

they played the pivotal role

Solve for x
A) -8
B) 3.5
C) 8
D) 26

Answers

Answer:

C) 8

Step-by-step explanation:

By remote interior angle property of a triangle.

[tex] 19x - 3 = 94° + 7x - 1\\\\

19x - 7x = 94 + 3 - 1\\\\

12 x = 96\\\\

x = \frac{96}{12}\\\\

\huge \orange{\boxed {x = 8}} [/tex]

I believe it’s 3.5 if not 26

Find f(g(−1)), f(g(−1))=___

Answers

Answer:

Find g(f(−1)).

g(f(−1)) =  64

Find f(g(−1)).

f(g(−1)) = -6

f(g(−1)) is - 8.

What is a composite function ?

A composite functions is a function where two or more than two functions are combined.The output of the previous function is the input of the next function.

According to the given question we have to find a composite function.

Assuming f(x) = x² + 9x and g(x) = .

To find f(g(-1)) first we have to put x = -1 for g(x) which is

= g(-1) = (-1)³ = -1.

Now we put this value of g(-1) in f(x).

∴ f(g(-1))

= f(-1)

= (-1)² + 9(-1)

= 1 - 9

= - 8.

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