You have $2,000 on a credit card that charges a 16% interest rate. If you want to pay off the credit card in 5 years, how much will you need to pay each month (assuming you don't charge anything new to the card)?

9514 1404 393

  $48.64

Step-by-step explanation:

The monthly payment amount is given by the amortization formula ...

  A = P(r/n)/(1 -(1 +r/n)^(-nt))

where P is the loan amount, r is the annual interest rate compounded n times per year for t years.

Here, you have P=2000, r=0.16, n=12 (months per year), t=5 (years), so the payment is ...

  A = $2000(0.16/12)/(1 -(1 +0.16/12)^(-12·5)) = $320/(12(0.54828942))

  A ≈ $48.636 ≈ $48.64

You will need to pay $48.64 each month to pay off the charge in 5 years.

logv3(x+2)=1

rewrite in exponential form:

logb(x) = y is equal to b^y =x

b = 3, y = 1

now solve for x:

3^1 = x+2)

x = 3-2

x = 1

see the picture for the graph.

b because it contains 40% of the possible results from the random list.  

0,1,2,3 v 4,5,6,7,8,9  

4 integers to 6 integers  

40% success vs 60% fail

step-by-step explanation: