Chase has a $42,500 line of credit which charges an annual percentage rate of prime rate plus 5%. His starting balance on June 1 was $2,550. On June 4, he borrowed $5,300. On June 9, Chris made a payment of $800, and on June 17, he borrowed $5,600. If the current prime rate is 10%, what is his new balance?

Answers

Answer 1

The best interest rate which banks can charge a customer is the prime rate.

His new balance is $12,735.291[tex]\overline 6[/tex]

Reasons:

The Annual Percentage Rate, APR = Prime + 5%

∴ APR = 10% + 5% = 15%

[tex]\displaystyle The \ periodic \ rate = \frac{15}{12} = 1.25 \%[/tex]

The balance on June 1 = $2,550

Daily balance, June 1 — 3 = $2,550 × 3 = $7,650

June 4 borrowed $5,300

The new unpaid balance = $2,550 + $5,300 = $7,850

Daily balance from June 5 — 8 = $7,850 × 3 = $23,550

Chris made payment on June 9

Unpaid balance = $7,850 - $800 = $7,050

Daily balance from June 9 — 16= $7,050 × 8 = $56,400

June 17 borrowed $5,600

Unpaid balance = $7,050 + $5,600 = $12,650

Daily balance June 17 — 30 = $12,650 × 14 = $177,100

Sum of daily balance = 7,650 + 23,550 + 56,400 + 117,100 = 204,700

[tex]\displaystyle Average \ daily \ balance = \frac{204,700}{30} = 6,823.\overline 3[/tex]

Finance charge = Average daily balance × Periodic rate

Finance charge = $6,823.[tex]\overline 3[/tex] × 0.0125 = $85.291[tex]\overline 6[/tex]

New balance = Cash advance + Credits and payment + Previous balance + Finance charge

New balance = $2,550 + $5,300 - $800 + $5,600 + $85.291[tex]\overline 6[/tex]

= $12,735.291[tex]\overline 6[/tex]

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Related Questions

Calculate the arithmetic mean of the numbers.

-16, -9, and 4

Answers

Answer:

-7

Step-by-step explanation:

The arithmetic mean of the numbers - 16, - 9 and 4 is,

⇒ - 7

What is Addition?

The process of combining two or more numbers is called the Addition. The 4 main properties of addition are commutative, associative, distributive, and additive identity.

Given that;

Numbers are,

⇒ - 16, - 9 and 4

Now, We can formulate;

The arithmetic mean of the numbers - 16, - 9 and 4 is,

⇒ (- 16 + (- 9) + 4 ) / 3

⇒ (- 16 - 9 + 4) / 3

⇒ - 21 / 3

⇒ - 7

Thus, The arithmetic mean of the numbers - 16, - 9 and 4 is,

⇒ - 7

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If C = C(q) is a firm's total cost function, the quantity epsilon_{c} = q/C * (dC)/(dq) is called the elasticity of cost at the output q . Discuss the relationship between marginal cost and average cost for the intervals of being higher and lower than 1 (15 points). epsilon_{c}​

Answers

Answer:

the answer is 5,746 = c

Step-by-step explanation:

Maribel will borrow $6250 at 13.5% APR. She chooses to pay it back in 2 years.

What will her monthly payment be? Use the table.

Use the rate table to figure out the monthly payments per one hundred dollars.

Answers

At a rate of 13.5% the interest per $100 is $ 4.778 per month.

Therefore, for two years the payment will be

$4.778 × 24 = $114.672 per $ 100

Therefore, the interest for a principal $6250 for two years;

(6250/100) × 114.672

= $7167

The monthly payment would therefore be

7167/24

= $298.625

≈$298.63

How to find the null and alternative hypothesis.

Answers

The actual check begins by considering 2 hypotheses. they're referred to as the null hypothesis and therefore the various hypothesis.

100 POINTS IF U GET DIS RIGHT!

Answers

Answer:

[tex]- \frac{3}{5}[/tex]

Step-by-step explanation:

slope-intercept form: y = mx + b

y = (x , y)

m = slope = [tex]-\frac{3}{5}[/tex]

x = (x , y)

b = y-intercept = [tex]- \frac{7}{9}[/tex]

With this given information, your slope will be [tex]-\frac{3}{5}[/tex]

Answer:

-3/5

Step-by-step explanation:

The answer is -3/5 I think

Quadrilateral HUJK has coordinates H(2, 3), 1(2, 6), J(-1, -8), and K(-2, 4). If the quadrilateral is
translated and H' (the image point of H) is located at (6, 2), find the coordinates of J' (the
image point of J).

Answers

Answer:

Ima troll

Step-by-step explanation:

Solve 2x + 3(x+ 10) = 60.
O A. x = 6
O B. x = 5
O C. x= 3
O D. x = 7

Answers

Answer:

A. x = 6

Step-by-step explanation:

2x+3(x+10)=60

Use the distributive property to multiply 3 by x+10.

2x+3x+30=60

Combine 2x and 3x to get 5x.

5x+30=60

Subtract 30 from both sides.

5x=60−30

Subtract 30 from 60 to get 30.

5x=30

Divide both sides by 5.

x=  

5

30

 

Divide 30 by 5 to get 6.

x=6

package of 11 wristbands costs $405.94. At this rate, what is the cost of 1 wristband in dollars and cents?

Answers

Answer:

36.90

Step-by-step explanation:

John earned $12 a day for babysitting his siblings after school each weekday (he did not babysit on weekends). He liked to have a small amount of money to spend on treats at the school canteen that his parents refuse to buy, but he also wanted to build up some savings. John decided to put a fraction of his earnings into a jar straight away. He spent all the rest on canteen treats.


How much money did John earn over a nine week term?

After 9 weeks, John had $378 in his jar. What percentage of his money did he save?

Answers

Answer:

He earns $540

70% of his money went to savings

Step-by-step explanation:

9 weeks x 5 days a week = 45 days

45 days x $12 a day = $540

378 * 100 / 540 =  (378*100) / 540 =  37800/540 = %70

Can my grade go up to an A within 3 weeks if i just do class work?

Answers

Answer:

da_mn the struggle is real

Step-by-step explanation:

Jada, Elena, Lin walked a total of 37 miles last week. Jada walke 4 miles in Elena, and Lin walked 2 more miles than Jada.
Click on picture for more info :333









I AM BEING NICE TODAY. DONT I REPEAT DONT TAKE THE POINTS AND ANSWER A NONSENSICAL ANSWER. THIS WILL END UP IN AN REPORT LIKE BIG TIME >:<
I AM GIVING 100 POINTS AND BRAINLIEST. PRIZE GOES TO ONE WHO ANSWER FIRST AND CORRECTLY.

Answers

Elena walked=mJada walked=m+4Lin walked=m+6

ATQ

[tex]\\ \sf\longmapsto m+m+4+m+6=37[/tex]

[tex]\\ \sf\longmapsto 3m+10=37[/tex]

[tex]\\ \sf\longmapsto 3m=27[/tex]

[tex]\\ \sf\longmapsto m=9[/tex]

Elena=9miJade=13miLin=15mi

During May, Andy had cash inflows of $550, $40, $65, and $80. He had cash outflows of $10, $30, $60, $25, $100, and $250. What is Andy’s net cash flow?

PLEASE HELP ME I DON'T KNOW WHAT THE ANSWER IS

Answers

Answer:

positive 260

Step-by-step explanation:

add the cash inflows

550+40+65+80 = 735

add the outflows

10+30+60+25+100+250 = 475

then substract the outflows from the inflows

735-475 = 260

So Andy's net cash flow is positive 260

Please consider marking this answer as brainliest if it helped you. Thanks!

Andy’s net cash flow is $260.

Given that, during May, Andy had cash inflows of $550, $40, $65, and $80.

What is subtraction?

Subtraction is the process of taking away a number from another. It is a primary arithmetic operation that is denoted by a subtraction symbol (-) and is the method of calculating the difference between two numbers.

Total cash inflow

= 550+40+65+80

= $735

Total cash outflow

= 10+30+60+25+100+250

= $475

So, net cash flow =735-475

= $260

Therefore, Andy’s net cash flow is $260.

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Ten less than the product of a number and 45.​

Answers

Answer:

45*x-10

Step-by-step explanation:

10 less than a number would give you

x - 10

and the product of a number means your multiplying and your multiplying 45 so you would get

45*x

add them together and you get

45*x-10

What is the other endpoint of the segment with midpoint (-3) and endpoint (-7)?
O 4
O 1
0-11
0-5

Answers

Answer:

1

Step-by-step explanation:

From -3 to -7 the distance is 4 (-3--7=4). Midpoint means that point -3 bisects the segment into two equal parts. So, the other endpoint is 4 units away from -3. Since -3+4=1, 1 is answer.

The quotient of a number, divided by 3, equals-8

Answers

Answer:

x / 3 = -8

Step-by-step explanation:

What else is required to prove the triangles are congruent using SAS?
See picture for full problem. Please and thank you so much!

Answers

Answer:

<JL congruent <TV

<JU congruent <UL

<TU congruent <UV

Step-by-step explanation:

because they have the same angles and that's my opinion for me

please this is half my grade!!!
Benjamin has a ladder that is 15 ft long. He wants to lean the ladder against a vertical wall so that the top of the ladder is 13.8 ft above the ground. What is the angle, rounded to the nearest tenth, that the ladder makes with the ground? Show your work
2. What is the length of side YZ to the nearest tenth? Show your work.
side XY is 11 feet, and angle Z is 35 degrees(this is a right triangle)



3. What are the exact measures of the other two sides of the triangle? Use special right triangles ratios and show your work.
Side AC is 14 feet, this is a right triangle, and angle A is 30 degrees

Answers

The special right triangle is the right triangle that have acute angle values

that simplify the process of finding its dimensions.

The correct values are;

1. The angle the ladder makes with the ground, is approximately 66.93°

2. The length of YZ is approximately 19.18 ft.

3. CB = 7 ft. and AB = 7·√3 ft.

Reasons:

1. The length of the ladder = 15 ft.

Height of the ladder above the ground, h = 13.8 ft.

Required:

The angle the ladder makes with the ground.

Solution:

The angle the ladder makes with the ground is given by the equation;

[tex]sin(\theta) = \dfrac{Length \ of \ the \ ladder}{Height\ of \ the \ ladder \ above the \ ground} = \dfrac{13.8}{15} = 0.92[/tex]

[tex]\theta = arcsin\left(0.92 \right) \approx 66.93^{\circ}[/tex]

2. The given parameters are;

XY = 11

∠Z = 35°

YZ = Required

In a right triangle, the side facing the acute angle is a leg of the triangle.

Therefore;

XY is the opposite side to ∠Z

[tex]sin(\angle Z) = \dfrac{XY}{YZ}[/tex]

Which gives;

[tex]sin(35^{\circ}) = \dfrac{11}{YZ}[/tex]

[tex]YZ= \dfrac{11}{sin(35^{\circ}) } \approx 19.18[/tex]

YZ ≈ 19.18 ft.

3. AC = 14 ft.

∠A = 30

Required:

The length of the other two sides

Solution:

Where by AC is the hypotenuse side, we have;

CB = AC × sin(∠A)

Therefore;

CB = 14 × sin(30°) = 7

CB = 7 ft.

AB =  AC × cos(∠A) = 14 × cos(30°) = 7·√3

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1. The angle the ladder makes with the ground, is approximately 66.93°

2. The length of YZ is approximately 19.18 ft.

3. CB = 7 ft. and AB = 7·√3 ft.

write the equation of the line passing through the origin of the coordinate system and is parallel to the line x-2y+3=0​

Answers

Answer:

x - 2y = 0

Step-by-step explanation:

The two lines have the same slope because they are parallel, and their equations have the same form as x-2y+3=0​, with only the constant (3) being different.  Solving this equation for y to find the slope, we get:

x + 3 = 2y, or y = (1/2)x + 3/2.  The line passing through (0, 0) with the same slope must then be y = (1/2)x; this line represents a proportional relationship because y is a constant multiple of x with the constant of proportionality 1/2.  This result may be rewritten as 2y = x or x - 2y = 0.

kokokokokkokokokokokookokokk.

Answers

Answer:

OMG️️

Step-by-step explanation:

What is this❓

what have you wrote✍️

Answer:

hye nice what have written tell then I will answer you.

Pls help i am so lost

Answers

Answer:

x= 90 degrees

y=43 degrees

Step-by-step explanation:


Help please ASAP !

Answers

Tha last one PR=XY is not true.

It should be PR=XZ.

ΔCDE was translated down and right to form triangle
ΔC′D′E′ Which statements are true? Check all that apply.

Answers

Answer:

1) DE ≅ D′E′  

2) EC ≅ E′C′  

5) D′C′ ≅ DC  

6) ΔCDE ≅ ΔC′D′E′

 

Hope it helps!

Which Game Is The Best And Why?

A.) Uncharted 4 a Thief's End
B.) Call Of Duty Modern Warefare
C.) Batman Arkham Knight
D.) Marvel's Spider-Man

Answers

B) obviously it’s the most played game then all of the others this year

Answer:

Hmm, id say call of duty, because first of all, my brother would not be happy if i chose something else, lol, also that one is pretty fun

Step-by-step explanation:

uppose a normal distribution has a mean of 16 and a standard deviation of 4. A value of 26 is how many standard deviations away from the mean

Answers

Answer:

2.5 s. d.

Step-by-step explanation:

Use the formula for calculating z scores:

      26 - 16

z = ------------- = 10/4 = 2.5

           4

Here the value 26 is 2.5 standard deviations above the mean (16).

Does anyone know this ??

Answers

Answer:

I believe that its C, but don't get mad at me if I get it wrong

I need help with this also I had was to repost it again because someone deleted it

Answers

Answer: 8:05

Step-by-step explanation:

Answer: 8:05

Step-by-step explanation:

which best describes the relationship between the 125 angle and angle a

Answers

Answer:

They are same side interior angles. Angle A measures 55°.

Step-by-step explanation:

Fave food. THIS IS FOR A GRAPH, PLEASE JUST COMMENT.

Answers

Spaghetti is my favorite food

Solve this for 50 points

Answers

3< -5x+2x
3< -3x
-3x>3
3x> -3
X> -1
[tex]3 < - 5x + 2x \\ 3 < - 3x \\ - 3x > 3[/tex]

- BRAINLIEST answerer

divide 24 apples between Roopa and Amita in ratio 5:7

Answers

Answer:

Roopa: 10

Amita: 14

Step-by-step explanation:

5x+7x=24

12x=24

x=2

5x=10

7x=14

Answer:

Step-by-step explanation:

5/7*24

=5/7*24

=17.14 apples

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