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tatiyna
1 year ago
12

Melissa owns a credit card with a 8.9% APR that calculates interest using the ADB excluding new purchases method. The balance af

ter her last billing cycle was $550. What was her finance charge for this credit card last month? Please show your math. Hint: Put your decimal point in the right place. If it’s 0.015555557, then you would multiply by 0.016, and if it’s 0.65555556 then you would multiply by 0.66.
Mathematics
1 answer:
ira [324]1 year ago
4 0

Answer:

$4.081

Step-by-step explanation:

We have been given that Melissa owns a credit card with a 8.9% APR. The balance after her last billing cycle was $550.      

First of all, we will find period rate by dividing APR by 12 as 1 years equals 12 months.

\text{Period rate}=\frac{8.9\%}{12}=0.74166\%

The finance charge would be 0.74166% of $550.

\text{The finance charge}=\$550\times \frac{0.742}{100}

\text{The finance charge}=\$550\times 0.00742

\text{The finance charge}=\$4.081

Therefore, the finance charge would be $4.081.

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2 years ago
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2 years ago
The percent defective for parts produced by a manufacturing process is targeted at 4%. The process is monitored daily by taking
Anna [14]

Answer:

The 88% confidence interval for the proportion of defectives today is (0.053, 0.123)

Step-by-step explanation:

In a sample with a number n of people surveyed with a probability of a success of \pi, and a confidence level of 1-\alpha, we have the following confidence interval of proportions.

\pi \pm z\sqrt{\frac{\pi(1-\pi)}{n}}

In which

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For this problem, we have that:

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88% confidence level

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The lower limit of this interval is:

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The upper limit of this interval is:

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2 years ago
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Answer:

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Answer:

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