Logan wants to move to a new city. He gathered graphs of temperatures for two different cities. Which statements about the data
1 answer:
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Explanation:
<u>Part 1</u>
The total monthly payment will remain level at the amount currently scheduled for Month 1. The revised totals are shown at the bottom of the attachment.
When Card C is fully paid, the same total payment will continue to be used until all card debts are paid.
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<u>Part 2</u>
The excess over the sum of minimum payments will be applied to Card C (24% rate). The minimum payment will continue to be made for the other credit cards. The revised Card C payments are shown at the bottom of the attachment.
When Card C is fully paid, the excess over the sum of minimum payments will be applied to Card B (20% rate).
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<em>Comment on the question</em>
You can't think too much about the given numbers. The minimum payment amounts given here decrease way faster than you would expect. For example, the $1.36 decrease in the minimum payment for Card A from Month 1 to Month 2 corresponds to a balance decrease of more than $90 when the interest rate is 1.5% per month. That is not possible if the payment is only $32.19.
Apparently, the question is not about the actual numbers. Rather, it is about the strategy of debt reduction. Some (bogus) numbers are given here just so you have something to think about.
The approach described in the problem statement has been given the name "debt avalanche" to distinguish the approach from Dave Ramsey's "debt snowball." The "debt snowball" approach pays off the <em>minimum balance</em> first, not the highest interest rate. It also includes some extra cash above the sum of minimum balances. ($100 is suggested; more is better.) The psychological effect of the quick win is considered to be more important than the extra cost of carrying the higher-rate debt for a longer period.
Answer: There are 3 quarts of concentrate and 9 quarts of water.
Step-by-step explanation:
Since we have given that
Ratio of number of quarts of water to number of quarts of concentrate is
3:1
Number of quarts of orange juice from concentrate and water = 12 quarts
So, the number of quarts of concentrate would be
the number of quarts of water would be
Hence, there are 3 quarts of concentrate and 9 quarts of water.