The interest due on the first payment is
.. I = Prt
.. I = 110,000*.055*(1/12)
.. I = 504.17
Then the decrease in principal resulting from the first payment is
.. 568.00 -504.17 = 63.83
and the new balance is
.. $110,000.00 -63.83 = $109,936.17
Answer:
To determine the common ratio of a geometric sequence. You just need to divide any two consecutive terms on it. You can see below that all of them have the same quotient.
1.2 / 1.5 = 0.8
0.96 / 1.2 = 0.8
0.768 / 0.96 = 0.8
.
Decimal form = 0.8
Fraction form = 4/5
.
Check:
1.5 x 0.8 = 1.2
1.5 x 4/5 = 6/5 = 1 1/5 = 1.2
Therefore, the common ratio between successive terms in the sequence? 1.5, 1.2, 0.96, 0.768 is 0.8 or 4/5.
Start with $30.25.
Subtract $14.00 to isolate the amount of money spent on admission.
30.25-14.00= 16.25. As a group $16.25 was spent on admission.
Admission is 3.25 per person. Divide 16.25 by 3.25.
16.25/3.25=5.
5 friends went ice skating.
