Alan Cohl obtained an installment loan for $3,560. His finance charge is $308.56, and he will make 18 monthly payments. What is the APR?
Answers
The required APR is 56.01%.
What is APR?
The annual percentage rate (APR) is the cost of borrowing money expressed as a yearly percentage. It provides a more comprehensive picture of a loan's cost than the interest rate alone. It includes the interest rate, as well as any discount points or other costs.
A good APR is around 16%, which is the current credit card average. Individuals with poor credit may only have access to higher-interest credit cards. Some consumers with good credit may be able to obtain cards with interest rates as low as 12%.
Alan Cohl obtained an installment loan for $3,560.
His financecharge is $308.56, and he will make 18 monthly payments.
We know that
Annual percentage rate = monthly rate x 12
Now, the total interest
= 308.56 x 18 - 3560
= $1994.08
and, monthly interest = 1994.08/12 = 166.173
Also, the monthly rate = 166.173/3560 =4.7%
Thus, the APR = 4.7 x 12
APR = 56.01%
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total interest = 308.56*18-3560 = 1994.08
monthly interest = 1994.08/12 = 166.173
monthly rate = 166.173/3560 =4.7%
APR = 4.7*12 = 56.01%
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Both circle Q and circle R have a central angle measuring 110°. The area of circle Q's sector is 4π cm2, and the area of circle R's sector is 9π cm2. The radius of circle Q is 7 cm. Which is the radius of circle R
Answers
First we must find the ratio:
Click here for more information about geometric sequences.
Answers
5.5 = 5 + .5 = 5 5/10 = 5 1/2
5.5 = 55/10 = 11/2 = 5 1/2
5.5 = 5 1/2 <---- at some point you'll need to know that 0.5 = 1/2
Answers
The measure of angle Q' is 45°.
What is an expression?
An expression is a way of writing a statement with more than two variables or numbers with operations such as addition, subtraction, multiplication, and division.
Example: 2 + 3x + 4y = 7 is an expression.
We have,
∠Q = 30°
∠Q is rotated 15°
This means,
∠Q = 30 + 15 = 45°
Thus,
The measure of angle Q' is 45°.
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an angle has the same measurement no matter what direction you rotate it
Answers
Answers
Answer:
Total no. of cases = 6954
No. of cases decided = 82
Percentage decided = (82/6954)x100 = 1.17%
Answer:
1.18%
Step-by-step explanation:
A percentage can be found by dividing the part by the whole. then multiplying by 100.
(part/whole) * 100
In this problem, the part is the cases decided by the Supreme Court. The whole is the total number of cases filed.
(cases decided / cases filed) *100
There were 82 cases decided by the Supreme Court, out of a total of 6,954 cases filed.
(82/6954) *100
First, solve the parentheses and divide.
0.0117917745* 100
Multiply
1.17917745 %
Round to the nearest hundredth. The 9 in the thousandth place tells us to round the 7 up to an 8 in the hundredth place.
1.18 %
About 1.18% of the cases filed were decided by the Supreme Court.
Answers
However for numbers like 15 and 25.
We would know ( if you have your times tables memorized) that 15 is a multiple of 1,3, and 5 and 15. 25 is a multiple of 1, 5, and 25.