Question: can you solve this worksheet for me (2) How is Interest Really Calculated? Part li In reality, interest on a credit card isn't only charged
(2) How is Interest Really Calculated? Part li In reality, interest on a credit card isn't only charged once a year. Let's investigate how it's really calculated 1) Suppose you charge $1,000 on a card that charges 12% APR. Find the account balance after 5 years. Try to do this by evaluating a single expression. Write down the expression as well as the answer Expression you evaluated: U 12 Balance 2) If interest were charged at a 12 APR semiannually instead of once a year, the same card would change or twice a year. By evaluating a single expression, find the account balance after 5 years 3) Complete the Table Frequency of Number of Times Interest Calculation Calculated per Year interest Rate per Expression for Period at 12% APR Balance after x years Account Balance After 5 Years Annual Semi-Annual Quarterly Monthly Weekly 4) Try to write an expression using only variables, for the account balance A, after t years, on an initial charge P, at an annual percentage rater, calculated n times a year. In reality, credit cards charge interest monthly. Adjust your equation to make it credit card specific
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