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

(100 Points) (Marking as Brainiest)

Chris has a goal to get through at least 14 books by the end of the year. It takes him 4 hours to listen to one as an audiobook and it takes him 12 hours to read one on paper. He has at most 120 hours that he can spend on books. He wants to complete at least two audio books and at least four paper books. Write 4 inequalities that represent this situation. Let x be the number of audio books and y be the number of paper books.​

Answers

Answer:

See below

Step-by-step explanation:

Audio book - x, time to listen one - 4 hoursPaper book - y, time to read one - 12 hours

Inequalities

Chris has a goal to get through at least 14 books:

x + y ≥ 14

He has at most 120 hours that he can spend on books:

4x + 12y ≤ 120

He wants to complete at least 2 audio books and at least 4 paper books:

x ≥ 2y ≥ 4

find the square root of each by division method:
a) 225 b) 961 c) 3969 d) 10404
If you can give the correct answer first, I'll mark the brainliest.

Answers

Refer to the attachment

Answer:

[tex]\sqrt[2]{225} =15[/tex], [tex]\sqrt[2]{961} =31[/tex], [tex]\sqrt[2]{3969} =69[/tex], [tex]\sqrt[2]{10404} =102[/tex]

Step-by-step explanation:

[tex]\sqrt[2]{225} =\sqrt{15*15}=15[/tex]

[tex]\sqrt[2]{961}=\sqrt{31*31} =31[/tex]

[tex]\sqrt[2]{3969} =\sqrt{69*69} =69[/tex]

[tex]\sqrt[2]{10404} =\sqrt{102*102}=102[/tex]

PERSONALLY I thought it would be 98 Bc like yk..BUT I FEEL LIKE IM WRONGsend help beggin cryin throwin up I hate geometry so much

Answers

Answer:

98

Step-by-step explanation:

It is 98! x and the 98 degree angle are corresponding angles and m is parallel to n. dw I hate geometry too.

4. Which of the following is the equation of a line that is perpendicular to a line that
goes through points at (-1,5) and (1, -3) and contains point (4, -4)?
A. y = - 4x - 5
B. y = - 4x - 3
C. y = 1/4 x - 3
D. y = 1/4 x – 5

Answers

Answer:

C. y = 1/4 x - 3

Step-by-step explanation:

Factor the polynomial 49n^2+168n+144

Answers

Answer:

(7n+12)^2 or (7n+12)(7n+12)

Step-by-step explanation:

Answer:

(7n+12)^2    or     (7n+12) (7n+12)

Step-by-step explanation:

Both answers are the same thing it's just shortened with the first equation.

С
12 yd.
5 yd.
What is the length of the hypotenuse? If necessary, round to the nearest tenth.
C=
yards

Answers

Answer:

C = 13

Step-by-step explanation:

A²+B²=C²

where c is the hypothenuse

5²+12²=c²

25+144=c²

169=c²

√169 = c

13 = c

To all who are good at math please help 80 points

Answers

Answer:

Number 4

Step-by-step explanation:

Answer:

d

Step-by-step explanation:

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

Please help me ASAP this is due in 4 mins

Answers

Answer: I would go with A.(B)

Step-by-step explanation:

The graph A. is the correct one

The length of perpendicular drawn from the opposite vertex to any side is a) altitude b) median c) perpendicular d) angle bisector

Answers

Answer:

Step-by-step explanation:

Altitude or height

Answer

It is known as altitude

There are three such altitudes and the point of intersection of these altitudes

is called as orthocentre

I need an emergency help plssssss! :(

Answers

Please find attached photograph for your answer.

Hope it helps.

Do comment if you have any query.

[tex]\\ \sf\longmapsto \sqrt{X^{a-b}}\times \sqrt{X^{b-c}}\times \sqrt{X^{c-a}}[/tex]

[tex]\\ \sf\longmapsto X^{\frac{a-b}{2}}\times X^{\frac{b-c}{2}}\times X^{\frac{c-a}{2}}[/tex]

[tex]\\ \sf\longmapsto X^{\frac{a-b}{2}+\frac{b-c}{2}+\frac{c-a}{2}}[/tex]

[tex]\\ \sf\longmapsto X^{\frac{a-b+b-c+c-a}{2}}[/tex]

[tex]\\ \sf\longmapsto X^{\frac{a-a+b-b+c-c}{2}}[/tex]

[tex]\\ \sf\longmapsto X^{\frac{0}{2}}[/tex]

[tex]\\ \sf\longmapsto X^0[/tex]

[tex]\\ \sf\longmapsto 1[/tex]

- 2/7 divided by - 8/21

Answers

I like to use the way flip the second fraction then cross cancel then multiply.

(-2/7)/(-8/21)

= (-2/7)(-21/8) (cross cancel) so 8 / 2 = 4 and 21 / 7 = 3. The 7 and 2 becomes 1.

= (-1/1)(-3/4)

= 3/4 or decimal 0.75

Answer:

3/4

Step-by-step explanation:

(-2/7) / (-8/21)

= (-2/7) * (-21/8)

=(-2*-21) / (7*8)

=42/56

= 3/4 -simplified

find an equation of the line that passes through the points (-3,10) and (2,-5)

Answers

Step-by-step explanation:

the most common form of line equation is

y = ax + b

a is the slope of the line. it is expressed as the ratio

y coordinate change / x coordinate change

when going from one point to the other.

b is the y-intercept (the y value when x = 0).

once we have the slope, we get b by using the coordinates of one of the given points as x and y in the equation and since for b.

for the slope a :

x changes by +5 (from -3 to 2)

y changes by -15 (from 10 to -5)

so, the slope is -15/+5 = -3

the equation looks now like

y = -3x + b

let's use the first point

10 = -3×-3 + b = 9 + b

1 = b

so, the equation is

y = -3x + 1

Martin's class has 28 students in it 25 % of those students are homesick today. How many students are home sick

Answers

7 students are home sick

50 POINTS! The fifth term of an arithmetic sequence is 11 and the tenth term is 41. What is the first term?

Answers

The common difference d is

(41–11) / (10–5) = 6.

The first term is

11 - 6(5–1) = -13.

so , the first term is -13

Answer:

-13

Step-by-step explanation:

The fifth term:

[tex]a_5=a+4d = 11[/tex]

The 10th term:

[tex]a_{10}=a+9d=41[/tex]

Subtract side-by-side and find d:

9d - 4d = 41 - 115d = 30d = 6

Find the first term:

a = 11 - 4*6 a = 11 - 24a = - 13

A cinema has 3 screens

Answers

Answer:

screen 1 =200

screen 2 =125

screen 3 =175

Step-by-step explanation:

screen 1   40% of 500 =200

screen 2   25% of 500 =125

screen  3  100%-(40%+25%)

                  100%-65%

                    35%

 35% of 500 =175

screen 1 =200

screen 1   40% of 500 =200

screen 2 =125

screen 2   25% of 500 =125

screen 3 =175

screen  3  100%-(40%+25%)

                 100%-65%

                   35%

35% of 500 =175

Hope this helps!!^^

7. What are the slope and y-intercept of y=3x-5?

Answers

Answer:

slope = 3

y-intercept = -5

Step-by-step explanation:

y = mx + b

m = slope; b = y-intercept

y = 3x - 5

y = 3x + (-5)

m = 3 = slope

b = -5 = y-intercept

Answer:

The slope is 3 and the y-intercept is negative 5.

The slope is defined in the equation by the number before the x and the y-intercept is defined in the equation by the number that follows. If there is no number then the y-intercept is zero.

Step-by-step explanation:

hope this helps. . . <3

good luck!     UwU

Answer the question below:

A: 2 units right and 6 units up

B: 6 units left and 2 units down

C: 2 units left and 6 units up

D: 6 units right and 2 units down

Answers

Answer:

c

Step-by-step explanation:

Solve for x.

5 = 2x − 3
(✿◡‿◡)

Answers

Answer: x=4

Step-by-step explanation:

The answer of X would be X=4

Given that I = PTR/ 100 , make T the subject of the formula.​

Answers

Step-by-step explanation:

I=PTR/100

cross multiply to get 100I= PTR

Put 100I/PR and PTR/PR

HENCE u get 100I/PR=T

THIS is because the PR cancelled from PRT to remain with T

what is the slope of y =4 - 2x ?

Answers

Answer:

−2.

Step-by-step explanation:

y = 4 − 2x? b is the y -intercept. Here, 4 is b and −2 is m. Therefore, the slope is −2.

What are the types of polygons?

Answers

Answer:

Triangle Quadrilateral Pentagon Hexagon Heptagon Octagon Nonagon and Decagon

Answer:

1.Regular Polygons.

2.Irregular Polygons.

3.Concave Polygons.

4.Convex Polygons.

5.Trigons.

6.Quadrilateral Polygons.

7.Pentagon Polygons.

8.Hexagon Polygons.

Step-by-step explanation:

The fraction 7/12 is found between which pair of numbers on a number line?

Answers

Answer:

B

Step-by-step explanation:

[tex]\dfrac{13}{24}< \dfrac 7{12} < \dfrac 34[/tex]

216+5( 8+1/5) Please i need it asap ty!

Answers

216+5X41/5
216+41
257
Please brainlyest

Answer:

257

Step-by-step explanation:

216 + (5 x(8 + 1/5)

Two mechanics worked on a car. The first mechanic charged $55 per hour, and the second mechanic charged $60 per hour. The mechanics worked for a combined total of 20 hours, and together they charged a total of $1125. How long did each mechanic work?

Answers

Answer:

15 and 5 hours.

Step-by-step explanation:

Call x the time taken by the first chap, and y the second.

[tex]\left \{ {{x+y = 20 \atop {55x+60y=1125}} \right.[/tex]

Let's divide by 5 and play with the LHS of the first equation a bit:

[tex]11x+ 11y +y = 225\\11(x+y)+y= 225[/tex] we know how much x+y is ( first equation!) let's solve.

[tex]11(20) +y = 225 \rightarrow y=5[/tex] At this point it's easy to check that [tex]x=15[/tex]

A house was sold for $64,900. If the selling price represents a 25% profit over the purchase price, how many dollars were in the purchase price of the house?

Answers

48,675£ because you have to times 64,900><0.75= 48,675

If the house is sold with a 25% profit then the purchase price of the house will be equal to $48,675.

What is the Percentage?

The Latin term "per centum," which signifies "by the hundredth," was the source of the English word "percentage." Segments with a denominator of 100 are considered percentages. In other terms, it is a relationship where the worth of the entire is always considered to be 100.

As per the data provided in the question,

The selling price of the house = $64,900

Profit percent = 25%

The profit price of the house after selling,

64900 × 25/100

= $16225

Now,

The purchase price of the house,

$64900 - $16225 = $48675.

To know more about Percentage:

https://brainly.com/question/29306119

#SPJ2

Question is on picture attached

Answers

Answer: a. they are alternate exterior angles.

b. Since they are the same measure, 14x + 2 = 9 + 13x. Let us solve.

14x + 2 = 9 + 13x

14x + 2 = 13x + 9

14x = 13x + 9 - 2

14x = 13x + 7

14x = 7 + 13x

14x - 13x = 7

x = 7

To check let us substitute. 14 * 7 + 2 = 9 + 13 * 7

100 = 100

So, we are correct.

Would appreciate brainly <3

28.5 is 30% of what number

Answers

Answer:   28.5 is what percent of 30? = 95.

Step-by-step explanation:

Solve for value of y

Answers

(9y - 6) + 51 = 90 (right angle)

9y - 6 + 51 = 90

9y - 6 = 90 - 51

9y - 6 = 39

9y = 39 + 6

9y = 45

y = 45/9

y = 5

_______

Hope it helps!

꧁✿ ᴿᴬᴵᴺᴮᴼᵂˢᴬᴸᵀ2222 ✬꧂

12 Times the product of 43 and a number B

Answers

Answer: 12*(43*B)

Step-by-step explanation:

12*(43*B)

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