document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=33722>Question 33722</A>This question is from textbook <A HREF=http://www.amazon.com/exec/obidos/ASIN/1592009425/algebrahomeworkh>Money, Business and Interest</A><BR>\n" );
document.write( ": <I><SPAN STYLE=\"word-break: break-all;\"> please! could you help me again in these problems and i can no twork out these.\r<BR>\n" );
document.write( "\n" );
document.write( "     Items 26 and 27 are based on the following information. \r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "      Bank credit cards are a convenient and a popular method of payment. Annual interest rates for purchases that have been made with bank credit vary, however. In New York, bankA charges 10% interest, bank B 15% interest, bank C 16% interest, and bank D 18% interest. In addition, each bank charges a $ 25 annual fee for its card. \r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "1) Bud charged a $588 couch on his card from bank B. If he pays for the couch in a year, how much interest will he pay? \r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( "2) Maria charged $29 and $84 on her card from bank D. If she plans to pay her balance in three months, what is the total she must pay? <BR>\n" );
document.write( " \r<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( " <BR>\n" );
document.write( "                    From your poor students\r<BR>\n" );
document.write( "\n" );
document.write( " \r<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "<BR>\n" );
document.write( "\n" );
document.write( " </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #20137 by </B><A HREF=/tutors/aboutme.mpl?userid=Nate><B>Nate(3500)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=Nate><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=20137\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> the equation for interest is:<BR>\n" );
document.write( "Y = A(1+r)^t<BR>\n" );
document.write( "where y is the final amount<BR>\n" );
document.write( "where a is the initial amount<BR>\n" );
document.write( "where r is the rate<BR>\n" );
document.write( "where t is the time in years<BR>\n" );
document.write( "----------------------------------------------------------------<BR>\n" );
document.write( "1) Bud charged a $588 couch on his card from bank B. If he pays for the couch in a year, how much interest will he pay?\r<BR>\n" );
document.write( "\n" );
document.write( "y = 588(1.15)^1<BR>\n" );
document.write( "y = 676.2<BR>\n" );
document.write( "676.2-588=88.2<BR>\n" );
document.write( "the interest would be $88.20<BR>\n" );
document.write( "----------------------------------------------------------------<BR>\n" );
document.write( "2) Maria charged $29 and $84 on her card from bank D. If she plans to pay her balance in three months, what is the total she must pay?\r<BR>\n" );
document.write( "\n" );
document.write( "y = (29+84)(1.18)^(1/4)<BR>\n" );
document.write( "y = (113)(1.18)^(1/4)<BR>\n" );
document.write( "y = 117.77<BR>\n" );
document.write( "117.77-113 = 4.77<BR>\n" );
document.write( "the interest would be $4.77\r<BR>\n" );
document.write( "\n" );
document.write( "-Attention-<BR>\n" );
document.write( "these interests are not included with the annual fee for the card </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );