Questions from Financial Algebra


Q: Faith is taking an $8,100, 2½-year

Faith is taking an $8,100, 2½-year loan with an APR of 3.22%. What is the monthly payment for this loan? Round to the nearest cent.

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Q: Sheldon’s monthly periodic rate is 1.95%. What is the

Sheldon’s monthly periodic rate is 1.95%. What is the APR?

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Q: Zea has a credit limit of $2,000 on her

Zea has a credit limit of $2,000 on her credit card. Each month, she charges about $200 and makes a payment of $125. a. Estimate the number of months that Zea can continue this pattern until she reac...

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Q: Examine this portion of the credit card summary. /

Examine this portion of the credit card summary. a. Express the sum of the cycle’s daily balances algebraically. b. Express the monthly periodic rate as an equivalent decimal with...

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Q: Fill in the missing amounts for a–d.

Fill in the missing amounts for a–d.

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Q: Examine the summary section of the monthly credit card statement below.

Examine the summary section of the monthly credit card statement below. Use the first five entries to determine whether the new balance is correct. If it is incorrect, write the correct amount.

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Q: Check the new balance entry on the monthly statement below by using

Check the new balance entry on the monthly statement below by using the first five entries. If the new balance is incorrect, write the correct amount.

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Q: A credit card statement is modeled by the following spreadsheet. Entries

A credit card statement is modeled by the following spreadsheet. Entries are made in columns A–F. Write the formula to calculate the available credit in cell G2.

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Q: Determine the amount of the payment made on the following credit card

Determine the amount of the payment made on the following credit card.

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Q: Examine these three matrices: / a.

Examine these three matrices: a. What are the dimensions of Y? b. List the elements of Z with their location symbols. Determine each matrix in parts c–i. c. x + z d. z + x e. x+...

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