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]

Learn more here:

https://brainly.com/question/1420581


Related Questions

1 + 1 PLEASE HELP AN EXPERT CANT EVEN ANSWER THIS

Answers

ITS 15 100% CORRECT

Answer:

1+1=2!!!!!!!!

YAY HAHAHAHAHAHA

If one angle of a triangle is 30° more than twice another angle, and the third angle is equal to the sum of the first two angles, find the measure of each angle.

Answers

Answer:

Answer:first angle = 25 degrees

Second angle = 35 degrees

Third side = 120/degrees

Step-by-step explanation:

Dave owns 15 shares of ABC Mining stock. On Monday, the value of
each share rose $2, but on Tuesday the value fell $5. What is the
change in the value of Dave's shares?
To travol tho
Write an expression to represent.

Answers

Answer:

15(2) + 15 (-5) . #45 drop

Step-by-step explanation:

Please answer lol its math

Answers

Answer:

12.5

Step-by-step explanation:

hope it helped

Answer:

12.5

Step-by-step explanation:

Divide 25ft by 2mm

> 25 / 2 = 12.5

When using a(n) _____ join, only rows from the tables that match on a common value are returned.

Answers

When you using an Inner Join, rows from table that match a common value are the only ones returned.

In SQL server, of we can create a new table by combining rows that have values that match in two or more tables by using an inner join clause.

Logically, this is used to retrieve data from tables that have a common field or appears to have data in both tables.

The diagram below shows the data retrieved using Inner Join in SQL Server which is represented by the part in black.

Therefore, when you using an Inner Join, rows from table that match a common value are the only ones returned.

Learn more about Inner Join on:

https://brainly.com/question/12851463

The nth term of a sequence is 3n2 - n + 10 where n is a positive integer. Which term in the sequence is equal to 54?​

Answers

Answer:

4th term

Step-by-step explanation:

Equate the nth term formula to 54 and solve for n

3n² - n + 10 = 54 ( subtract 54 from both sides )

3n² - n - 44 = 0

Consider the factors of the product of the n² term and the constant term which sum to give the coefficient of the n- term.

product = 3 × - 44 = - 132 and sum = - 1

The factors are - 12 and + 11

Use these factors to split the n- term

3n² - 12n + 11n - 44 = 0 ( factor the first/second and third/fourth terms )

3n(n - 4) + 11(n - 4) = 0 ← factor out (n - 4) from each term

(n - 4)(3n + 11) = 0

Equate each factor to zero and solve for n

n - 4 = 0 ⇒ n = 4

3n + 11 = 0 ⇒ 3n = - 11 ⇒ n = - [tex]\frac{11}{3}[/tex]

Since n > 0 then n = 4

The 4th term of the sequence is 54.

What is a sequence ?

A sequence is a set of numbers with a constant difference or a constant ratio or it have a certain relation with the next and previous term.

According to the given question the nth term of a sequence is 3n² - n + 10.

We have to determine which term is equal to 54 or the value of and it must be an integer.

So, 3n² - n + 10 = 54.

3n² - n - 44 = 0.

3n² - 12n + 11n - 44 = 0.

3n(n-4) +11(n-4) = 0.

(3n+11) = 0 OR (n-4) = 0.

n = - 11/3 OR n = 4.          ( given the term no. is a positive integer ).

learn more about sequence here :

https://brainly.com/question/21961097

#SPJ2

Scored 12 out of 39 in the test work out the percentage

Answers

30.8%

I did 12/39 in my calculator and got .308 then multiplyed by 100 to get 30.8%

If the perimeter of a square is 7 feet how many inches long is the square on each side?

Answers

Answer:

7÷4=1.75

Step-by-step explanation:

..............

The length of each side of the square is 1.75 feet.

What is square?

"It is a quadrilateral with all sides are equal and all angles are 90°"

What is the perimeter of square?

"The perimeter of square is, P = 4 × a,

where 'a' is the side length of the square."

For given example,

the perimeter of a square is 7 feet.

⇒ P = 7 feet

Let 'a' be the length of each side of the square.

Using the formula of perimeter of a square,

⇒ P = 4 × a

⇒ 7 = 4 × a

⇒ a = 7 ÷ 4

a = 1.75 feet

Therefore, the length of each side of the square is 1.75 feet.

Learn more about the perimeter of a square here:

https://brainly.com/question/11495285

#SPJ2

PLEASE HELP! WILL GIVE BRAINLIEST (NO LINKS)


1. What is the probability of rolling a total of 7 or 11 with two 6-sided dice

2. What is the probability of rolling a total less than 5 with two s6-sided dice

3. What is the probability of rolling a total of 10 with a 6-sided dice and a 8-sided dice

Answers

Answer:

1. 2/9

2. 1/3

3. 112

Step-by-step explanation:

Where do I graph them?​

Answers

hi there is the gems I am getting on to be a good choice and evolve as a means to get a better of your life

Plus 6 at the end means that the line crosses the y axis at positive 6 and 3x is 3/1x and you just rise over run to graph the line. Hope this helps.

Find the slope of the line graphed below.​ 21 points!

Answers

The answer is 3/2
3 units up and 2 units to the left that is the slope

Answer:

The answer is 1.5

Step-by-step explanation

First you want to find the rise. This is the amount of height between the two points (Y) and divide them over the run. This is amount of distance (X) between the points. This will be 6/4. Divide this and you have your answer!

A person who is 1.7 meters tall want to know the height of the
center of a Ferris wheel from the ground in the amusement
park, if he is 40 meters away and looking up to its center with an angle of 30°.

The center of the Ferris wheel is how many meters from the ground?

Answers

Answer:

https://www.javelin-tech.com/blog/wp-content/uploads/2020/11/NC_Math-3_Student-Edition-1-1.pdf

Step-by-step explanation:

Find the answer here if you can find it :> thanks me later

please help i dont understand this!

Answers

Answer:

Pmt Amt     $12.50      $23.50      $64.00      $82.00

Fee             $0.25        $0.47        $1.28         $1.64

Step-by-step explanation:

The top line is the payment amount.

The bottom line is the 2% fee.

Let's do the middle columns first.

For any payment amount, the fee is 2%.

To find a percent of a number, change the percent to a decimal by moving the decimal point of the percent to places to the left, and multiply the decimal by the number.

2% as a decimal is 0.02

To find 2% of a number, multiply 0.02 by the number.

The second column has payment amount of $23.50

We need to find 2% of $23.50

2% of $23.50 = 0.02 × $23.50 = $0.47

The third column has payment amount of $64.00

We need to find 2% of $64.00

2% of $64.00 = 0.02 × $64.00 = $1.28

Now we do the first and 4th columns. Here we know the fee, and we are looking for the payment amount.

Let the amount be x.

The fee is 2% of x, so the fee is

0.02x

We set the expression equal to the actual fee and solve for x.

The first column has a fee of $0.25

0.02x = $0.25

x = $0.25/0.02

x = $12.50

The 4th column has a fee of $1.64

0.02x = $1.64

x = $1.64/0.02

x = $82

Answer:

Pmt Amt     $12.50      $23.50      $64.00      $82.00

Fee             $0.25        $0.47        $1.28         $1.64

Find the values of x and y.

Answers

70+35=105
180-105=75(sum of angle in a triangle is 180)
180-75=105(cyclic angles are equal to 180)
105+70=175
180-175=5 (sum of angle in a triangle is 180)
5x=5
X=1
Y=105

Is this answer right?

Answers

Answer:

correct.

Step-by-step explanation:

WILL GIVE BRAINLEST!!! A rational expression has been simplified below
(x-2)(x+6) X-2
7(x+6)
*=2
For what values of xare the two expressions equal?

Answers

Answer:

You're answer is B. All answers except -6

Step-by-step explanation:

did the test

Can Someone explain this to me? No Links no bots please.

Answers

Answer:

The domain is x = all real numbers and the range is y >= 0.

Step-by-step explanation:

The domain represents all possible values that x can be for a given equation or graph. Since this is a parabola, it will keep expanding upwards and outwards infinitely, so it will eventually reach every x value on both the positive and negative axis, therefore x is all real numbers (also written as (-INF, INF) in another notation).

The range is similiar to the domain, but it represents all possible y values. The parabola, as I mentioned before, will expand upwards infinitely, so all y values greater than the vertex will be reached. The vertex for this graph is the lowest point of the parabola, so y will have to be greater or equal to it. For this equation, the vertex is (0,0) so y has to be greater than or equal to 0.

Calculate the slope of the line for Graph B.

Answers

Answer:

-1

Step-by-step explanation:

rise = -2

run = 2

Slope = rise / run

= -2/2 = -1

Since also the angle made by the line and x axis in anti clockwise direction is > 90° the slope will be-ve .

Answer:

Slope = -1

Step-by-step explanation:

You are provided with two points on the line (-5, 7) and (1,1).

[tex]Slope = \frac{y_{2} -y_{1}}{x_{2} -x_{1}}[/tex]

[tex]Slope = \frac{7-1}{-5-1} =\frac{6}{-6} =-1[/tex]

Domain and rangeeeeeee

Answers

Answer:

domain: -4 ≤ x ≤ 2

range: 2 ≤ y ≤ 6

Step-by-step explanation:

Simplify the ratio, 44:33

Answers

Answer:

4:3

Step-by-step explanation:

if we take 44:33 and simplify by dividing by 11 we get 4:3

[tex]44:33 \\ ⇒ \frac{44}{33} \\ ⇒ \frac{4}{3} \\ = 4:3[/tex]

- BRAINLIEST answerer

3(x-2)=18 can somebody plzz help me

Answers

Answer:

x=8

Step-by-step explanation:

3(x-2)=18

3x-6=18

3x=18+6

3x=24

x=24/3

x=8

Given : Simplify 3(x - 2) = 18

Solution : According to the question, here we are given an equation i.e 3(x - 2) = 18 where we need to get the value of x by simplifying it.

3(x - 2) = 18

Cross multiplying 3 to the other side

x - 2 = 18/3

x - 2 = 6

Transposing -2 to the right hand side of the equation to get +2

x = 6 + 2

Adding them we get the final answer

x = 8

Henceforth, the required answer is 8

GIVING BRAINLIEST PLEASE HELP

Answers

Answer:

S=16×2

S=32

................................

The answer is 32 because the denominator times the answer(16) is 32 and that’s how you solve it.

Solve the equation.
-3x + 1 + 10x = x + 4
Ох:
x=
No
x=
x =
x = 12
x = 18

Answers

Answer:

x=1/2

Step-by-step explanation:

plz, tell me the answer. and plz explain if you can

Answers

Answer:

angel b is 70 because all the degrees in a triangle must add up to 180

Find the third side in simplest radical form:

Answers

Step-by-step explanation:

[tex]by \: pythogorus \: law \\ {x}^{2} = ( { {29}^{2} - {21}^{2} })^{ \frac{1}{2} } \\ = \sqrt{20} \\ = \sqrt{4 \times 5 } \\ = 2 \sqrt{5} [/tex]

What is s - -32 = 383 what does s =

Answers

Step-by-step explanation:

i dont know

In each figure, solve for x

Answers

46+30=76
angles in a triangle add to 180°
180-76=104
180-104=76
x=76
To get the answer you add 46 degrees and 30 degrees to get 76 and then all the angles in the inside have to add up too 180 so you substract 76 too 180 and that would give you 104 but you gave to substract it again to get x and that would get you 76

the tens digit was 1. The ones digit was 6. The number was between 600 and 700 what was the number

Answers

Answer:

616

Step-by-step explanation: hope it helps :)

Answer:665,830 my answer

Step-by-step explanation:

so. what have you got so far?

How can a digit have no value?

Pharaoh, Diego, and Devonte all got jobs
at different clothing stores. At Pharaoh's
store it costs $48 to get 3 shirts. At Diego's
store it costs $96 to get 16 shirts. At
Devonte's store it costs $56 to get 14
shirts. Which one is the best deal.

Answers

Answer:

i think the answer is Devonte's  store because you get 14 shirt for $56

Step-by-step explanation:

Pharaoh's good it's not too expensive but you only get 3 shirts , Diego's is too expensive even if you get 16 shirts it's for $96

The state fair is a popular field trip destination. This year the senior class at High School A and the senior class at High School B both planned trips there. The senior class at High School A rented and filled 14 vans and 6 buses with 564 students. High School B rented and filled 4 vans and 6 buses with 414 students. Every van had the same number of students in it as did the buses. Find the number of students in each van and in each bus.

Answers

Answer:

No of student can be found using x+y=total

X+y=total

Concept

Step-by-step explanation:

Let vans be x

Let bas be y

14x+6y=564

4x+6y=414

With that you can get the answer am sorry I couldn't give the appropriate answer I only showed the way am in a trip that's why

Other Questions
what is the common denominator of 5/8 and 1/6? need answers ASAP What gland is responsible for seasonal changes? Name a type of malware designed to provide unauthorized, remote access to a user's computer PLEASE HURRY IM BEING TIMED which of the Earths systems do you live in? a biosphere and geosphere b atmosphere and hydrosphere c hydrosphere and geosphere d atmosphere and biosphere Answer asap, please!!! 51 samples were analyzed, and the sample mean was 9.7 ounces. Can you determine the standard deviation of the sample An organ can be defined as:A - a group of cells of one type that has a function B - a group of several different cell types, each type working together C - a group of tissues that are located together that have unrelated functions D - part of a system and therefore does not have a function of its own Review the incomplete equation below. Select the number that makes the equation true. 35 64 = 1800 +_____ + 120 +20 The Pendleton Civil Service Act was passed to.a) place additional regulation on the railroads.b) end Japanese immigration to the United States.c) end the spoils system.d) print money backed by silver rather than gold. Which graph best represents a function with zeros of -2, -1 and 2 Sunlight helps our bodles to produce Vitamin D. In some areas of the United States, there is not enough sunlight during the winter montsupport this process. What is on thing you would recommend to people who live in those areas?O A. Drink juice that is pasteurized with Vitamin D.O B. Eat more proteins that bulld Vitamin D.O C. Drink soymilk that is enriched with Vitamin D.O D. Eat more carbohydrates that bulld Vitamin D. Can someone write me a small paragraph retelling the life of Alfred Nobel (the founder of the Nobel Prize) ? ( PS the last guy who answered literally just talked about the public domain for 5 lines, which was not helpful at all, and completely unrelated) . solve the equation please 142=10+4x+7xx= what how can a cell corret the DNA if there is a mutation? _____1. Katunggali ng Espanya sa panunuklas ng A. Espanya malalayong lupain_____2. Siya ang nagtibay ng Kasunduan ng Tordesillas. B.Europa para sa kolonisasyon._____3.Ang nangunguna sa kalakalan, kaya nakontrol C. HaringManuel ang sistema ng kalakalan D. Kasunduan ngTordesillas_____4. Nanguna sa kalakalan noong ika-15 dantaon siglo E.Kolonisasyon____ 5. Ito ang pananakop ng isang bansa sa ibang lupain F. Portugal Mechanical waves travel fastest throughA -SolidB -LiquidC -GasD -Vacuum at what point during meiosis do homologous chromosomes pair up? At a corner store, apples cost $1 and orange cost $2 victor has 18$ to spend buy fruitsWrite an equation that relates the number of apples a, to the number of oranges,o, victor can buy while spend exactly $18 Solve this equation by elimination method...2x+7y=-173x+10y=-24Please show work I will give Brainliest :) How are expressions 1/4 of 12 and 12 divided by 4