Travis just got a new credit card that offers inductors APRof 3.6% for first 3 months and standard APR of 14.4% thereafter. If interest is compounded monthly, what is the periodic interest rate during the first three months?

Month 1 : 0.002988

Month 2: 0.00299692814

Month 3: 0.00300588297

Step-by-step explanation:

Since we're only finding the interest for the first three months, it's easy to do it by performing the simple interest formula. But first, we need divide 3 by 12, since we calculate interest using years. 3/12 = 1/4 = 0.25

The standard simple interest calculation is done by multiplying the starting amount, by the interest, by the time, then dividing by 100 to put it into a percentage.

1 month = 1/12 or approximately 0.083 of the year.

Let's say P = 1. For the first month, it will be 1 x 3.6 x 0.083 = 0.2988 / 100

The second month, (1 + 0.002988) * 3.6 * 0.083 = 0.299692814 / 100

The third month, (1.002988 + 0.00299692814) x 3.6 x 0.083 = 0.300588297/100

Given the initial amount be 1, those would be the periodic interest rate during the first three months.

answer: it would most likely be y=6 and 5/7.

step-by-step explanation:

ratios represent a pattern or relationship that can be scaled.

equivalent ratios are pairs of ratios that represent the same relationship between quantities, and can be generated by multiplying or dividing both quantities in the ratio by the same factor.

in this lesson, students will use double number lines and ratio reasoning to solve ratio problems. by partitioning double number lines into proportionate intervals, students will build an understanding of equivalent ratio relationships as those that are generated by multiplying or dividing two related quantities by the same number. this lesson will build upon students' prior understanding of multiplicative comparisons, number line reasoning and equivalent fractions (while highlighting the difference between equivalent fractions and equivalent ratios); and will build toward future work in this unit on building ratio tables, and work in future grades in proportionality, scaling, and expressing and graphing linear functions.

step-by-step explanation:

ratios represent a pattern or relationship that can be scaled.

equivalent ratios are pairs of ratios that represent the same relationship between quantities, and can be generated by multiplying or dividing both quantities in the ratio by the same factor.

in this lesson, students will use double number lines and ratio reasoning to solve ratio problems. by partitioning double number lines into proportionate intervals, students will build an understanding of equivalent ratio relationships as those that are generated by multiplying or dividing two related quantities by the same number. this lesson will build upon students' prior understanding of multiplicative comparisons, number line reasoning and equivalent fractions (while highlighting the difference between equivalent fractions and equivalent ratios); and will build toward future work in this unit on building ratio tables, and work in future grades in proportionality, scaling, and expressing and graphing linear functions.