Answer:
Question 13: 90, Question 14: y = 
, Question 15: x = 
, Question 16: y = 
.
Step-by-step explanation:
Answer:
$536.25
Step-by-step explanation:
First, you need to find what 7.5% of $2,200 is,
(2200/100)7.5=165
then to find how much interest has accumulated over 3 1/4 year you need to multiply the one-year interest rate by the 3.25
(165)3.25=536.25
Answer:
The answer is Yes Axel will qualify for chapter 7 bankruptcy.
Step-by-step explanation:
To qualify for a Chapter 7 bankruptcy, the debtor must earn less than the state median income on a monthly basis. Here it is given that Axel lives in Virginia and makes $54,000 a year. The median annual income in Virginia is $61,233. So, Axel is earning less than the median income. Hence, he will qualify for chapter 7 bankruptcy.
Take 37% as an example, just add a decimal point to the left 2 times. Decimal = .37. Fraction would be 37/100, because you cannot simplify.
Answer:
15000(1.003425)^12t ;
4.11%
4.188%
Step-by-step explanation:
Given that:
Loan amount = principal = $15000
Interest rate, r = 4.11% = 0.0411
n = number of times compounded per period, monthly = 12 (number of months in a year)
Total amount, F owed, after t years in college ;
F(t) = P(1 + r/n)^nt
F(t) = 15000(1 + 0.0411/12)^12t
F(t) = 15000(1.003425)^12t
2.) The annual percentage rate is the interest rate without compounding = 4.11%
3.)
The APY
APY = (1 + APR/n)^n - 1
APY = (1 + 0.0411/12)^12 - 1
APY = (1.003425)^12 - 1
APY = 1.04188 - 1
APY = 0.04188
APY = 0.04188 * 100% = 4.188%
