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PolarNik [594]
2 years ago
12

Sam is getting ready for a big date when he realizes that he has no money. his roommate, bill, also has no money, but he has a c

redit card. knowing that nobody will let sam use bill’s credit card, sam asks bill to pull out a cash advance for $120.00. bill agrees under the condition that sam is responsible for all interest that accrues on the cash advance which is a 30% interest rate, compounded monthly. 5 full years go by before the $120 cash advance is repaid. how much should bill ask sam to pay in interest for the cash advance?
Mathematics
2 answers:
Novay_Z [31]2 years ago
8 0
Recall that to compute for the new amount of the original sum at a compound interest is A(t) = P(1 + r/n)^(nt) where P is the original amount, r is the interest rate, n is the number of times P is compounded each year, and t is the number of year. With this, the total amount owed by Sam in five full years becomes [(120)(1 + 0.30/12)^60 ]. The total interest is the difference between the original amount owed and the amount that needs to be paid over time. Thus, total interest is [(120)(1 + 0.30/12)^60 ] - 120 = 407.97. Therefore, the total interest is $407.97<span>.</span>
Lena [83]2 years ago
3 0

Answer:

its c on edgd2020

Step-by-step explanation:

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mario62 [17]

Answer:

1/2 or 50% probability

Step-by-step explanation:

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Therefore probability of A being the first player = number of A/total number of players

=1/2 = 0.50

There is therefore a 50% chance of A being the first player

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1 year ago
gia got some books from the library yesterday. she got five books after returning three. Gia now has six books. how many library
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Gia began with four books
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2 years ago
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A golfer recorded the following scores for each of four rounds of golf: 86, 81, 87, 82. The mean of the scores is 84. What is th
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Answer:

26

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3 0
2 years ago
PLS HELPPPP IM DOING THIS NOW AND I WANT THIS RIGHT PLSSSS For two years, two samples of fish were taken from a pond. Each year,
tatiyna

Answer:

the answer is B

Step-by-step explanation:

Your welcome.

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