3) you owe $1,842.66 on a credit card at a 14.5% apr. you pay $250.00 at the beginning of the month and put another $250.00 in a savings account at a 4.0% apr. what is the difference in the amount of interest accrued between the credit card and savings account by the end of the month?

4) using the information from problem 3, how much interest could you save by putting all $500.00 instead of just $250.00 toward the credit card at the beginning of the month?

3. Credit Card: (1842.66 - 250) (.145/12) = $19.24

Savings: 250(0.04/12) = $0.83  

Difference = 19.24 - 0.83 = $18.41  

4. Credit Card: (1842.66 - 500) (.145/12) = $16.22

You will save $18.41 - $16.22 = $2.19 by putting all $500 toward the higher credit card rate.  

answer:

given the linear inequality :

add 2y to both sides we get;

simplify:

add 12 to both sides of an equation;

simplify:

divide both sides by 2 we get;

or

the related equation for the inequality equation [1] is;

y-intercepts defined as the graph crosses the y-axis.

substitute x =0 in [2] to solve for y;

y = 6

x-intercepts defined as the graph crosses the x-axis.

substitute value y = 0 to solve for x;

subtract 6 from both sides we get

multiply both sides by 2 we get;

or

x = -12

now, plot these point (0, 6) and (-12, 0) on graph as shown below and shade the graph below the solid line.