If Martin buys a coke for $1.85 on a credit card that charges 22% interest compounded monthly what will the coke actually cost him if he does not pay the credit card off in five years?

Answers

Answer 1

Using compound interest, it is found that the coke will actually cost him $5.50.

Compound interest:

[tex]A(t) = P\left(1 + \frac{r}{n}\right)^{nt}[/tex]

A(t) is the amount of money after t years. P is the principal(the initial sum of money). r is the interest rate(as a decimal value). n is the number of times that interest is compounded per year. t is the time in years for which the money is invested or borrowed.

In this problem:

The coke is bought for $1.85, hence [tex]P = 1.85[/tex].The interest rate is of 22%, hence [tex]r = 0.22[/tex].It is compounded monthly, hence [tex]n = 12[/tex].Five years, hence [tex]n = 5[/tex]

Then:

[tex]A(t) = P\left(1 + \frac{r}{n}\right)^{nt}[/tex]

[tex]A(5) = 1.85\left(1 + \frac{0.22}{12}\right)^{12(5)}[/tex]

[tex]A(5) = 5.50[/tex]

The coke will actually cost him $5.50.

A similar problem is given at https://brainly.com/question/14239300

Related Questions

2. How many tens are in 9 hundreds?

Answers

Answer:90

Step-by-step explanation:

900/10 = 90

Answer: 90

Step-by-step explanation:

2. What is the exchange rate? Show your work. 1 US dollar = ___________ euro
help pls :(

Answers

Answer:

.88 Euro

Step-by-step explanation:

One U.S. dollar is equivalent to .88 Euro. Have a nice day!

im stuck on this problem can someone help me? (see photo)

Answers

Answer:

I'm thinking the anwer is B

Step-by-step explanation:

I remember doing this problem before :)

9.2 less than 3 times a number is the same as 2114.What is the number?

Answers

Answer:

707.7

Step-by-step explanation:

3x-9.2 = 2114

2114+9.2 = 2123.2

3x = 2123.2

x = 707.7

Answer:

10.15

Step-by-step explanation:

3x-9.2 = 21.25

3x = 30.45

x = 10.15

3850 times a 1.3% interest rate for 6 years

Answers

"sam places 3850 in a bank account that pays 1.3% simple interest per year and how much interest will she earn in 6 years | Wyzant Ask An Expert" https://www.wyzant.com/resources/answers/646803/sam-places-3850-in-a-bank-account-that-pays-1-3-simple-interest-per-year-an3850

I hate math sm I can’t understand any of this even though its probably so simply

Answers

Me tooo it makes no sense that’s the whole reason I got this app lol

What is a scalar quantity ?

Answers

Answer:

A scalar quantity is defined as the physical quantity with only magnitude and no direction.

look at the image, i need help with b mostly and please also answer a so i can check my answer

Answers

Answer:

a) 10 per for 4 min means 150 per hour. so more hamburgers are sold per hour.

b) see attachment

Frank pays 2.85 for a bag of 15 tangerines.
Find the unit price in dollars per tangerine.
If necessary, round your answer to the nearest cent.

Answers

Answer:

19 cents because 2.85/15=0.19ct and now we round it up its 20cents!

Step-by-step explanation:

Hope this helps!

Answer:

The answer is $0.19

Step-by-step explanation:

Divide 2.85 by 15.

2.85 ÷ 15 = 0.19

giving Brainliest to whoever answer both

Answers

A.

1. Yes
2. No
3. Yes

B.

1. Yes
2. No
3. No

Examine the following table, which represents some points on a line.

x 3 0 −3 −6 −9
y −3 −2 −1 0 1
What is the equation for the line in slope-intercept form?

y=−3x−2y is equal to negative 3 x minus 2, , ,

y=3x−2y is equal to 3 x minus 2, , ,

y=−13x−2y is equal to negative 1 third x minus 2, , ,

y=−13x−6y is equal to negative 1 third x minus 6, , ,

y=−3x−6

Answers

Answer:

Step-by-step explanation:

We notice two things in the table.

y goes up by 1 when x goes down by 3.y = -2 when x = 0 (this is the y-intercept

The slope of the line is ...

m = (change in y)/(change in x) = +1/-3 = -1/3

Then the slope-intercept equation is ...

y = mx +b . . . . . . slope m, y-intercept b

y = -1/3x -2

Answer is C

Step-by-step explanation:

math

what is a ratio of two different measurements where the 2nd measurement is 1.

Answers

Answer:

A "rate" is a ratio involving a comparison of 2 quantities that have different unites of measurement. An example of this can be miles per hour or g/mL

Step-by-step explanation:

Find the length of the third side. If necessary, write in simplest radical form.

Answers

Step-by-step explanation

Find the percentage change of the first quantity with reference to the second quantity: 72 units, 60 units.

Answers

Answer:

Step-by-step explanation:

120 percent,

because if you divide by 6, you will get 10:12 and if you make the 10 a 100, you multiply both by 10, so 12 x 10 = 120 which means it is 20 percent because you have to subtract 100 from the quantity. so it is 20 percent

*Or 120 percent, I dont know though*

solve pls brainliest

Answers

Answer:

Step-by-step explanation:

|x|=x,if x>0

|x|=-x,if x<0

(a)

|7-9|=|-2|=-(-2)=2

(b)

|7|-9=7-9=-2

HELP PLEASE ASAP WILL GIVE BRAINLIEST

Farmer Hopt started with some alabers on her farm. She had 90 alabers after 5 months. After 16 months, she had 167 alabers. Assume a constant rate of change.

Write an equation in slope-intercept form for total alabers, y, after x months.

Answers

Answer:

[tex]y= 11x+35[/tex]

Step-by-step explanation:

Let's find the slope first. It took hopt 11 months (from 5 to 16) to grow 77 trees. It means that each month he grew [tex]\frac{77}{11} = 7[/tex] trees.

At this point you can use the point-slope form and re-write the equation or, let's think about it. It's a direct proportion. If at month 5 she has 90 trees, one month earlier she had 11 less. two month earlier, 22 less. 5 month earlier, or at x = 0 (ie, our intercept!) she had 55 less trees, or 90-55 = 35 trees

The equation is then [tex]y= 11x+35[/tex]

During a job interview, you are asked to rate on a scale of 1 to 5 how happy you are. What type of test is the interviewer giving you

Answers

Answer:

Probably how much you want this job, if you say 0, than they are prob gonna assume you dont want to do this job, and you wont do your best. If you say 5, then you do want this job and your excited and youll give your all

Step-by-step explanation:

Questions regarding the level of excitement or happiness of one's self are called mental health or happiness test.

Happiness test are administered to evaluate personal feeling of excitement, hence, it cannot be taken on one's behalf as they are personified information.

Happiness test are usually structured as "How happy are you". Hence, they are direct and usually measured using an Ordinal scale.

Hence, the type of test on this context is Happiness test.

Learn more ::https://brainly.com/question/3565320

What does the degree of the polynomial tell you.

Answers

A degree in a polynomial function is the greatest exponent of that equation, which determines the most number of solutions that a function could have and the most number of times a function will cross the x-axis when graphed.

What has she done wrong?

Answers

Answer:

see explanation

Step-by-step explanation:

Her error is in squaring (2y)²

She has (2y)² = 2y²

when it should be 2y × 2y = 4y²

Then

(2y)² = 6² + 8²

4y² = 36 + 64

4y² = 100 ( divide both sides by 4 )

y² = 25 ( take square root of both sides )

y = [tex]\sqrt{25}[/tex] = 5

Can someone please give me the answer

Answers

Answer:

6/10

Step-by-step explanation:

30/50=3/5

3/5=3/5

15/25=3/5

3/5*2/2=6/10

Answer Asap!
<3 <3 <3
Thx

Answers

Answer:

d or b

Step-by-step explanation:

look at where the c and a are and the numbers alighn

A sno-cone machine priced at $140 is on sale for 20% off. The sales tax rate is 6%. What is the price of the sno-cone machine after the discount and sales tax?
A) $112.00
B) $118.72
C) $28.00
D) none of the above

Answers

Answer:

118.72

Step-by-step explanation:

I just used my calculator 0-0 hope this helped :)

What is 5261.436 rounded to the nearest thousand?

Answers

Answer:

5261.436 would be the answer

The answer would be 5,000 for rounding to the nearest THOUSAND.

Hope this helped. :)

Help? Find the exact value.

Answers

That’s the answer for the question

I GIVE BRAINLIST ON ALL MY QUESTIONS !!

solve the system of equations using substitution

y= 2x + 4
2x - y =6

A) (2, 8)
B) (2, -8)
C) (10, 24)
D) no solution

Answers

Answer is D)

no solution

Griff needs $46.35 more to buy a video game that costs $75.00, how much money does he already have?

Answers

Griff already has $28.65

An Apple Watch was marked down 1/9 of the original price. If the sales price was $224 what is the original price?

Answers

Answer:

ok so that means that the new price is 8/9th of the original one so we divide 224 by 8/9=252

Hope This Helps!!!

Marked down 1/9 means it sold for 8/9 of the original price.

Divide the sale price by 8/9:

224 / 8/9 = 224 x 9/8 = (224 x 9)/8 = 2016/8 = 252

The original price was $252

CAN SOMEONE HELP ME PLEASE ASAP!

Answers

Answer:

P and R

Step-by-step explanation:

P and R are similar because R is the same thing as P but 2 times bigger.

Answer question 3 and also I will give you brainiest if you give the correct answer hurry!!!

Answers

To find the rate of change, you look at how much the y value increases with a change of 1 x. We see that as x increases from 1 to 2, y increases from 120 to 144. Then we subtract 144-120 to find the rate of change, which is just 24 (also note that x changes by 1 here).

Then for the initial value:
We see that y increases by 24 for 1 x, so subtracting the value at x=1 by 24 we get 120-24 = 96, which is the initial value.

Hope this helps

I NEED THE ANSWR ASAP: Write the number as a power with a base of 5.
125^3

Answers

Answer:

5^9

Step-by-step explanation:

I had this question before.

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