Jordan’s credit card has an APR of 10.59%, compounded monthly. He is required to make a minimum payment of 3.96% of his current balance every month. At the beginning of March, Jordan had a balance of $628.16 on his credit card. The following table shows his credit card purchases over the next few months. Month Cost ($) March 50.81 March 48.04 April 77.36 April 32.40 April 49.20 May 25.79 May 79.39 May 79.08 If Jordan makes only the minimum monthly payments in March, April, and May, what will his balance be after he makes the minimum payment for May? (Assume that interest is compounded before the monthly payment is made, and that the monthly payment is applied at the end of the month. Round all dollar values to the nearest cent.) a. $1,094.10 b. $988.97 c. $967.60 d. $1,070.23

Answers

Answer 1

Answer:

b. 988.97

Step-by-step explanation:

got a 100 on the test

Answer 2

The balance at the end of May after the minimum payment is made is

$571.64.

What is compound interest?

It is the interest we earned on the interest.

The formula for the amount earned with compound interest after n years is given as:

A = P [tex](1 + r/n)^{nt}[/tex]

P = principal

R = rate

t = time in years

n = number of times compounded in a year.

We have,

P = $628.16

r = 10.59%

n = 12

t = 1/12

The amount after March.

A = 628.16 [tex](1 + 0.1059)^{12\times0.08[/tex]

A = $633.48

Monthly payment.

= 3.96/100 x 633.48

= $25.09

Remaining amount.

= 633.48 - 25.09

= $609.39

The amount after April.

A = 609.39 [tex](1 + 0.1059)^{12\times0.08[/tex]

A = $614.55

Monthly payment.

= 3.96/100 x 614.55

= $24.34

Remaining amount.

= 614.55 - 24.34

= $590.21

The amount after May.

A = 590.21 [tex](1 + 0.1059)^{12\times0.08[/tex]

A = $595.21

Monthly payment.

= 3.96/100 x 595.21

= $23.57

Remaining amount.

= 595.21 - 23.57

= $571.64

Thus,

The balance at the end of May is $571.64.

Learn more about compound interest here:

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Related Questions

Suppose we want a 99% confidence interval for the average amount spent on books by freshmen in their first year at college. The amount spent has a normal distribution with standard deviation $34. (a) How large should the sample be to guarantee the margin of error will be no more than $3?(b) If we wanted a smaller margin of error, we would need a sample. (Enter: ''LARGER'', ''SMALLER'' or ''SAME SIZE'', without the quotes.)

Answers

Answer:

a) 855

b) We would need a Larger sample.

Step-by-step explanation:

(a) How large should the sample be to guarantee the margin of error will be no more than $3?

The formula for Margin of Error = z × Standard deviation/√sample size

z = z score of 99% confidence interval = 2.58

Standard deviation = $34

Sample size = n = unknown

Margin of Error = $3

√n = z × Standard deviation/Margin of Error

Square both sides

n = (z × standard deviation/Margin of Error)²

n =( 2.58 ×34/ 3)²

n = (29.24)²

n = 854.9776

Approximately, the size of the sample be to guarantee the margin of error will be no more than $3 is 855

(b) If we wanted a smaller margin of error, we would need a sample. (Enter: ''LARGER'', ''SMALLER'' or ''SAME SIZE'', without the quotes.)

We would need a Larger sample.

This is because, the larger the sample, the smaller the margin of Emerror and the smaller the sample, the larger the margin of error. Therefore, for the question b, we would be needing a larger sample.

What kind of number is 92 and why? if you know the others that'd be great!!

Answers

Answer:

hello!

Step-by-step explanation:

The number 92 is a rational number if 92 can be expressed as a ratio, as in RATIOnal. A quotient is the result you get when you divide one number by another number. For 92 to be a rational number, the quotient of two integers must equal 92.

A 35-foot ladder is leaning against the side of a building and is positioned such that the base of the ladder is 21 feet from the base of the building. How far above the ground is the point where the ladder touches the building?​

Answers

Answer:

Step-by-step explanation:

At a carnival 7 out of 10 pepole order hotdogs if there is 90 pepole at the carnival how many of them did not order a hotdog

Answers

Answer:

20 people did not order hotdogs

Step-by-step explanation:

if there is 90 people and 7 must represent 70 / 90

A plane flew to its destination 300 miles away. With a tail wind, the flight took 5/6 of an hour. The return
trip, with a head wind, took 1 hour. Find the speed of the wind and the speed of the plane.


Thank youu

Answers

Answer:A plane flew to its destination 300 miles away. With a tail wind, the flight took 5/6 of an hour. The return trip, with a head wind, took 1 hour....

Step-by-step explanation:

What is the value expression for |-8|

Answers

Answer:

8

Step-by-step explanation:

Write Three and eight thousandths in standard form? What is it

Answers

Thousandths is the 3rd decimal place

The answer is 3.008

You earn $15 an hour tutoring and $9 an hour working at the Sippy Drink. You can tutor a maximum of 10 hours a week. You have to put in at least 20 hours a week at the Sippy Drink to keep your job there. You can't work more than 40 hours a week. Create and graph a system of inequalities that represents the constraints

Answers

Answer:

how is the maximum 10 hrs but you need to put in 20hrs

I need help on this question 109^41/109^94

Answers

Answer:

[tex]\frac{1}{109^{53}}[/tex]

Step-by-step explanation:

[tex]\frac{109^{41}}{109^{94}}=109^{41-94}=109^{-53}=\frac{1}{109^{53}}[/tex]

How many cups of flour are needed to make 3 dozens of dinner rolls

Answers

Answer: 1/15

Step-by-step explanation: A. If 1/3 cup makes 5 rolls, you need to know how many cups make one. (1/3)/5 = 1/15  Take the number of cups for one roll and multiply it by 3.  1/15 x 3  Final Answer = 3/15

B. Take the number of cups you have divided by 1/3 (since you know how many roles this makes)  (5 2/3) / (1/3)  Final Answer = 17

C. Well, we already solved for this one in A, didn't we?  Final Answer = 1/15

Identify next three numbers in this sequence: 2, 6, 3, 9, 6, 18, 15

Answers

Answer:

45,42,126

multiply by 3

The next three terms in the sequence are : 45, 42 and 126

Given the sequence 2, 6, 3, 9, 6, 18, 15

Rule :

Multiply the first term by 3 to obtain the second term Subtract 3 from the 2nd term to obtain the third term The third term is multiplied by 3 to obtain the fourth term Subtract 3 from the fourth term to obtain the fifth term. And the process continues....

Starting with the first term ; 2 ;

2nd term = 2 × 3 = 6

3rd term = 6 - 3 = 3

4th term = 3 × 3 = 9

5th term = 9 - 3 = 6

6th term = 6× 3 = 18

7th term = 18 - 3 = 15

8th term = 15 × 3 = 45

9th term = 45 - 3 = 42

10th term = 42 × 3 = 126

Hence, the next three terms of the sequence are : 45, 42 and 126

Learn more : https://brainly.com/question/18109692

Is 0 a real, imaginary, or complex number?

Answers

Answer: 0 is a imaginary number

Step-by-step explanation:

Write the name of the
period that has the
digits 913.

Answers

the answer is the thousands group . its the way they word the problem that complicates it . 913,256 256 being the ones group 913 being the thousands group . so the name of the period with 913 , is the thousands group .
It’s kinda in between, but I’ll say the thousands since it’s rlly close.

1
Tamara spun the arrow on a spinner 50 times. The number of times the arrow landed on each colored section of the spinner is shown in the table.
Section
Red
Blue
Orange
Yellow
Number of Times
Arrow Landed on
23
8
10
9
Based on the results in the table, what fraction of the area of the spinner is most likely represented by the Red section?
А.
SO
O B. 3
Ос. 4
O D. 1 / 4

Answers

Answer:

Area covered by red target = 23/50

Step-by-step explanation:

Given:

Total number of shot = 50

Section      Number of shots

Red                      23

Blue                      8

Orange               10  

Yellow                 9

Find:

Area covered by red target

Computation:

Area covered by red target = 23/50

Area covered by red target = 1/2 of total area

Answer:

The fraction of the area of the Red section is [tex]\dfrac{23}{50}[/tex]

Step-by-step explanation:

Given that,

The number of times the arrow landed on each colored section of the spinner is shown in the table.

Tamara spun the arrow on a spinner 50 times.

Section = Red, Blue, Orange, Yellow

Number of times arrow landed = 23, 8, 10, 9

We need to calculate the fraction of the area of the Red section

Using formula of fraction of area

[tex]fraction\ of\ area=\dfrac{Red\ section}{total\ section}[/tex]

Put the value into the formula

[tex]fraction\ of\ area=\dfrac{23}{50}[/tex]

Hence, The fraction of the area of the Red section is [tex]\dfrac{23}{50}[/tex]



Estimate the answers after rounding to the indicated place value.

56.1: 6.6 (ones)

A 9

B10

C8

D7

E6

Answers

The answer is D:7 ㅤㅤㅤ

3÷1/3+1=

PLEASE HELP!!!!!

Answers

Answer:

9+1=10 following bodmas rule

3. [W] Consider the following data from NASA about the density of the sun. • When you are 10% of the way out from the center of the sun (use x = 0.1), the density is approximately 82.9619 g/cm3 . • When you are 20% of the way out of the sun, the density is approximately 38.7504 g/cm3 . • When you are 70% of the way out of the sun, the density is approximately 1.7819 g/cm3 . • When you are 80% of the way out of the sun, the density is approximately 1.9824 g/cm3 . • When you are 90% of the way out of the sun, the density is approximately 0.7859 g/cm3 . We want to use this data to find a quartic (4th degree) interpolating polynomial for the density of the sun throughout. y = Ax4 + Bx3 + Cx2 + Dx + E (a) Set up this problem as a system of linear equations. (b) Find the quartic polynomial that goes through these data points. (c) Use this polynomial to approximate the density 50% of the way out of the sun.

Answers

Answer:

a)

A(0.1)^4 + B(0.1)^3 + C(0.1)^2 + D(0.1) + E = 82.9619  ----------1

A(0.2)^4 + B(0.2)^3 + C(0.2)^2 + D(0.2) + E = 38.7504 -------2

A(0.7)^4 + B(0.7)^3 + C(0.7)^2 + D(0.7) + E = 1.7819   ----------3

A(0.8)^4 + B(0.8)^3 + C(0.8)^2 + D(0.8) + E = 1.9824 ----------4

A(0.9)^4 + B(0.9)^3 + C(0.9)^2 + D(0.9) + E = 0.7859 ----------5

b)  y = 519x^4 - 1630x^3 + 1844x^2 - 889x + 155

c)  0.1875

Step-by-step explanation:

a)

Let y = Ax^4 + Bx^3 + Cx^2 + Dx + E

Setting up the problem as a system of linear equations

when x=(10%)=0.1, y = 82.9619

therefore

A(0.1)^4 + B(0.1)^3 + C(0.1)^2 + D(0.1) + E = 82.9619  ----------1

when x=(20%)=0.2, y = 38.7504

A(0.2)^4 + B(0.2)^3 + C(0.2)^2 + D(0.2) + E = 38.7504 -------2

when x=(70%)=0.7, y = 1.7819

A(0.7)^4 + B(0.7)^3 + C(0.7)^2 + D(0.7) + E = 1.7819   ----------3

when x=(80%)=0.8, y = 1.9824

A(0.8)^4 + B(0.8)^3 + C(0.8)^2 + D(0.8) + E = 1.9824 ----------4

when x=(90%)=0.9, y = 0.7859

A(0.9)^4 + B(0.9)^3 + C(0.9)^2 + D(0.9) + E = 0.7859 ----------5

b)

Find the quartic polynomial that goes through these data points

Now to find the values ( A,B,C,D,E)

[MATRIX]

║A║         ║   (0.1)^4  (0.1)^3    (0.1)^2   (0.1)    1    ║^-1    ║ 82.9619  ║

║B║         ║     (0.2)^4  (0.2)^3  (0.2)^2   (0.2) 1   ║         ║ 38.7504 ║

║C║     =  ║    (0.7)^4  (0.7)^3  (0.7)^2   (0.7)   1   ║         ║ 1.7819     ║

║D║         ║    (0.8)^4  (0.8)^3  (0.8)^2  (0.8)   1   ║         ║ 1.9824    ║

║E║         ║    (0.9)^4  (0.9)^3  (0.9)^2  (0.9)   1   ║         ║ 0.7859    ║

║A║      ║  29.7619  -47.619  166.667   -238.095   89.2857 ║ ║ 82.9619║

║B║      ║  -77.381  119.048  -333.333   452.381 -160.714      ║ ║ 38.7504║

║C║  =  ║   71.131  -102.381  208.333  -269.048 91.9643      ║ ║ 1.7819    ║

║D║      ║  -26.369 33.0952  -41.6667  52.619  -17.6786     ║ ║ 1.9824   ║

║E║       ║   3.00      -2.4         -2.4        -3.00          -1.00       ║  ║ 0.7859  ║

║A║       ║ 519   ║

║B║       ║ -1630║

║C║  =   ║ 1844 ║ ,         y = 519x^4 - 1630x^3 + 1844x^2 - 889x + 155

║D║       ║ -889 ║

║E║       ║ 155    ║

c)

approximate the density 50% of the way out of the sun

so at 50% (0.5) x=0.5

we substitute

y = 519(0.5)^4 - 1630(0.5)^3 + 1844(0.5)^2 - 889(0.5) + 155

= 0.1875

Lisa's age is 4 years older than three times Sammy's age. Lisa is 28 years old. Let s represent Sammy's age. Which equation can be used to solve for Sammy's age?

Answers

Answer:

24

Step-by-step explanation:

let Sammy's age be x and Lisa y

since Lisa is 4years older than Sammy

y=x+4

28-4=y

y=24

Service Costs are part of maintaining your car. It's that time again. You will need an oil change costing $45, four new tires costing $89.95 each, and 2 new windshield wipers costing $7.95 each. What is the total cost of your service cost?

Answers

Answer:

420.7

Step-by-step explanation:

Help me please and show work and this is geometry

Answers

Answer:

-433

Step-by-step explanation:

Step 1: Define

-5(4 + 9s) - 7(4q - 6)

s = 7

q = 5

Step 2: Simplify expression

Distribute: -20 - 45s - 28q + 42

Combine like terms: -45s - 28q + 22

Step 3: Substitute

-45(7) - 28(5) + 22

Step 4: Evaluate

-315 - 140 + 22

-445 + 22

-433

100 x 0.64

Please help sorry I keep asking questions I’m doing a test and it’s kinda hard

Answers

100 x 0.64 = 64.

All you have to do is multiply the numbers as if there wasn’t a decimal.

Then you add a decimal after 2 numbers.

.64 has a decimal after 2 numbers so your answer would have a decimal after 2 numbers also.

So when you get 6400 you out a decimal after 00.

That gives you 64

what is the formular for 1+4+16+64+256

Answers

Answer:

341

Step-by-step explanation:

1+4=5

5+16=21

21+64=85

85+256=341

1/2x^2+3x+7 find axis of symetry ​

Answers

Answer:

x=-3

Step-by-step explanation:

Which of the following correctly uses absolute value to show the distance between -50 and 12? A: |-50 - 12| = |-62| = -62 units B: |-50 + 12| = |-38| = 38 units C: |-50 + 12| = |-38| = -38 units D: |-50 - 12| = |-62| = 62 units

Answers

I’m sorry I’m answering this to ask a question

a retail chain buys 1000 wireless speakers if the price is $190 and $2600 if the price is $110. A wholesaler will supply 800 wireless speakers at $128 each and 2400 at $192. Assuming that the supply and demand functions are linear, find the market equilibrium price and market equilibrium quantity

Answers

Answer:

The market equilibrium price is $160 and market equilibrium quantity is 1600

Step-by-step explanation:

A linear function is of the form y = m * x + b, where m is the slope and b is called the intercept.

The shape of a demand and supply curve will be: Q = m * P + b

The point-slope form of the linear function is written as y- y1 = m * (x- x1) where (x, y) and (x1, y1) are the coordinates of the point. In this case: Q- Q1 = m * (P- P1)

A retail chain buys 1000 wireless speakers if the price is $ 190 and 2,600 if the price is $ 110. Then (P, Q) = (190,1000) and (P1, Q1) = (110, 2600). Replacing in the point-slope form:

1000 - 2600= m*(190 - 110)

and solving for m you get:

-1600=m*80

[tex]m=\frac{-1600}{80}[/tex]

m= -20

To find the value of b from the demand curve Q = m * P + b, you plug in the value of m and either of the two points into the equation and solve for b. So:

Q= -20*P + b

Replacing (P, Q) = (190,1000)

1000= -20*190 + b

1000= -3800 + b

1000 + 3800= b

4800= b

The demand function is Q= -20*P + 4800

In an analogous way, the supply function can be deduced. A wholesaler will supply 800 wireless speakers at $128 each and 2400 at $192. Then (P, Q) = (128,800) and (P1, Q1) = (192, 2400). Replacing in the point-slope form:

800 - 2400= m*(128 - 192)

and solving for m you get:

-1600=m*(-64)

[tex]m=\frac{-1600}{-64}[/tex]

m= 25

To find the value of b from the supply curve Q = m * P + b, you plug in the value of m and either of the two points into the equation and solve for b. So:

Q= 25*P + b

Replacing (P, Q) = (128,800)

800= 25*128 + b

800= 3200 + b

800 - 3200= b

-2400= b

The supply function is Q= 25*P - 2400

The point where the supply and demand curves intersect is called the market equilibrium point. At this point the quantity supplied and the quantity demanded is the same and the price must also be the same. So:

-20*P + 4800= 25* P -2400

Solving for P:

-20*P - 25*P= -2400 - 4800

-45*P= -7200

[tex]P=\frac{-7200}{-45}[/tex]

P= 160

Since at the equilibrium point the quantity supplied and the quantity demanded is the same, replacing the price P in either of the two functions (demand or supply) I obtain the equilibrium quantity. In this case, it is replaced in the supply function:

Q= 25*160 -2400

Q= 1600

Finally, the market equilibrium price is $160 and market equilibrium quantity is 1600

olve. 4 + x 7 = 2 A) -14 B) 10 C) 12 D) 42

Answers

Answer:

-14 I believe

Step-by-step explanation:

Answer:

Its A.

Step-by-step explanation:

Help ASAP
Find the Distance between (5,2) and (-3,-4)

Answers

Answer:

[tex]d = 10[/tex]

Step-by-step explanation:

Distance Formula: [tex]d=\sqrt{(x_2-x_1)^2+(y_2-y_1)^2}[/tex]

Simply plug in your 2 coordinates into the formula to find distance d:

[tex]d=\sqrt{(-3-5)^2+(-4-2)^2}[/tex]

[tex]d=\sqrt{(-8)^2+(-6)^2}[/tex]

[tex]d=\sqrt{64+36}[/tex]

[tex]d=\sqrt{100}[/tex]

[tex]d = 10[/tex]

A 130 gallon tank initially contains 10 lbs salt dissolved in 60 gallons of water. Brine containing 1 lb salt per gallon begins to flow into the tank at the rate of 3 gal/min and the well-mixed solution is drawn off at the rate of 1 gal/min. How much salt is in the tank when it is about to overflow

Answers

Answer:

80 lb of salt

Step-by-step explanation:

Let us assume the water flows into the rank for x minutes.

There is an initial of 60 gallons of water in the tank and water flows in at 3 gal/min. In x minute, the amount of water in the tank = 60 + 3x

Water flows out at 1 gal/min, therefore in x minute the amount of water in the tank = 60 + 3x - x = 60 + 2x

The tank begins to overflow when it is full (has reached 130 gallons). Therefore:

130 = 60 + 2x

2x = 130 - 60

2x = 70

x = 35 minutes.

In 35 minutes the tank would start to overflow.

1 lb salt per gallon flows into the tank at 3 gal/min, in 35 min the amount of salt that entered the tank = 3 gal/min × 35 min × 1 lb/gal = 105 lb

1 lb salt per gallon flows out of the tank at 1 gal/min, in 35 min the amount of salt that flow out of the tank = 1 gal/min × 35 min × 1 lb/gal = 35 lb

Initially there is 10 lb of salt dissloved into 60 gallons of water.

Therefore the amount of salt is in the tank when it is about to overflow = 10 + 105 - 35 = 80 lb of salt.

3a+8+2ax≥3ax-4a what is a

Answers

Answer:

A=3 I'm 95% sure but if you're not sure then use PEMDAS

P-parentheses

E-exponets

M-multiply

D-divide

A-add

S-subtract

what kind of number is -18 and explain why it is

Answers

Answer:

Step-by-step explanation:

-18 is a integer because it has negative sign

☽------------❀-------------☾

Hi there!

~

-18 is an integer number because of the " - " sign. I hope the picture will explain why -18 is an integer number!

❀Hope this helped you!❀

☽------------❀-------------☾

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