A credit card had an APR of 25. 67% all of last year and compounded interest daily. What was the credit card's effective interest rate last year?

Answers

Answer 1

The credit card's effective interest rate last year was approximately 28.73%. This takes into account the daily compounding of interest, which increases the effective interest rate compared to the stated APR.

To find the credit card's effective interest rate last year with an APR of 25.67% and compounded interest daily, we can follow these steps:

Step 1: Convert the APR to a decimal. To do this, divide the APR by 100.
25.67% ÷ 100 = 0.2567

Step 2: Determine the number of compounding periods in a year. Since interest is compounded daily, there are 365 periods in a year.

Step 3: Calculate the periodic interest rate. To do this, divide the APR (in decimal form) by the number of compounding periods.
0.2567 ÷ 365 = 0.000703

Step 4: Calculate the annual growth factor. To do this, add 1 to the periodic interest rate and raise the result to the power of the number of compounding periods.
(1 + 0.000703) ^ 365 ≈ 1.2873

Step 5: Calculate the effective interest rate. To do this, subtract 1 from the annual growth factor and multiply the result by 100.
(1.2873 - 1) × 100 ≈ 28.73%

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Related Questions

PLZ HELP MEEEEEEEEEE​

PLZ HELP MEEEEEEEEEE

Answers

Answer:

D

Explanation:

Occupational codes are:

A.Career clusters

B.Personality types
C. Personality traits
D. Types of jobs

Answers

Answer:

d

Explanation:

is a types of jobs for employee

Answer:

D, Types of jobs

Explanation:

hope it help and have a nice day

The debt safety ratio indicates the total assets owned by an individual.a. Trueb. False

Answers

False. The debt safety ratio is a measure of an individual's ability to manage debt and is calculated by dividing total debt by total assets. It does not indicate the total assets owned by an individual.

The debt safety ratio, also known as the debt-to-assets ratio, is a financial metric that measures the proportion of an individual's total debt to their total assets. It provides insight into the financial stability of the individual by comparing their debt level to the value of their assets.

Your debt safety ratio should not exceed 20 percent and should preferably be around 15 percent

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Wireless Technologies reports sales of $50 million. Accounts receivable at the beginning and end of the year are $5 million and $7 million, respectively. What is the amount of cash received from customers? 52 MILLION B 50 MILLION 55 MILLION 48 MILLION (1) You're not able to go back to the previous question in this assessment

Answers

To calculate the amount of cash received from customers, we need to consider the changes in accounts receivable during the year.

The formula to calculate cash received from customers is:

Cash received from customers = Sales + Decrease in accounts receivable

Given:

Sales = $50 million

Accounts receivable at the beginning of the year = $5 million

Accounts receivable at the end of the year = $7 million

To calculate the decrease in accounts receivable, we subtract the ending accounts receivable from the beginning accounts receivable:

Decrease in accounts receivable = Beginning accounts receivable - Ending accounts receivable

Decrease in accounts receivable = $5 million - $7 million = -$2 million

Now, we can calculate the cash received from customers:

Cash received from customers = Sales + Decrease in accounts receivable

Cash received from customers = $50 million + (-$2 million)

Cash received from customers = $48 million

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What is a common interest group?

Answers

Interest group, also called special interest group, advocacy group, or pressure group, any association of individuals or organizations.

What are special interest groups?

These interest organizations speak for groups that advocate for and support vulnerable communities. The Sierra Club, for instance, focuses on preserving both the environment and the world's wild places.

A special interest group (SIG) is a community within a larger organization that has a common goal of advancing a particular field of knowledge, learning, or technology. Members work together to influence or produce solutions in their particular field and may communicate, gather in person, and plan conferences.

The Association for Computing Machinery (ACM), a professional and academic computer society, first used the phrase in 1961. [1] Later, SIG became well-known on CompuServe, a pioneer in online services, where SIGs were a portion of the site devoted to specific interests.

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"What are the four phases of the decision-making process with respect to decision support in organizations?
Choices:
A. intelligence, design, choice, and implementation
B. OLAP, DSS, GDSS, and MSS
C. problem definition, alternative analysis, design, and implementation"

Answers

The four phases of the decision-making process with respect to decision support in organizations are A. intelligence, design, choice, and implementation.

The intelligence phase involves identifying the problem or opportunity, gathering information, and understanding the situation. The design phase focuses on generating and evaluating alternatives, assessing risks and benefits, and selecting the best course of action. The choice phase involves making the final decision and committing to a plan of action. Finally, the implementation phase involves putting the decision into action, monitoring progress, and making adjustments as necessary.

These four phases are crucial for effective decision-making in organizations. Decision support systems, such as OLAP, DSS, GDSS, and MSS, can assist in each phase by providing access to data, facilitating analysis, and aiding in communication and collaboration. However, it is important to remember that decision-making is ultimately a human process, and decision support systems should be used as tools to enhance, rather than replace, human judgment and decision-making skills. The correct answer to the question is A.

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Are there times you would be willing to compromise your ethics for business gain?

Answers

As an AI language model, I do not possess ethics, values, or morals, nor do I have the capacity to compromise them. However, I can provide some insight on how humans approach this question.

Ethics are principles that guide individuals' behavior in making decisions that are right or wrong, and they are an essential aspect of any business. Companies operate in a competitive environment, where making ethical choices can sometimes put them at a disadvantage compared to their less principled competitors. Therefore, the temptation to compromise ethics for business gain may arise, especially in situations where the company is struggling financially or facing intense competition.

In conclusion, compromising ethics for business gain is never justified. It is essential for companies to establish a robust ethical framework that guides their behavior and decision-making processes, prioritize long-term benefits over short-term gains, and build a strong reputation as an ethical and responsible company.

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Ethics are principles that guide individuals' behavior in making decisions that are right or wrong, and they are an essential aspect of any business. Companies operate in a competitive environment, where making ethical choices can sometimes put them at a disadvantage compared to their less principled competitors.

Therefore, the temptation to compromise ethics for business gain may arise, especially in situations where the company is struggling financially or facing intense competition.

In conclusion, compromising ethics for business gain is never justified. It is essential for companies to establish a robust ethical framework that guides their behavior and decision-making processes, prioritize long-term benefits over short-term gains, and build a strong reputation as an ethical and responsible company.

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US farmers start cutting down their pecans groves to make more land available to plant more profitable crops would cause the supply of
pecans to what?
A. Increase right
B. Decrease left
C. Not change

US farmers start cutting down their pecans groves to make more land available to plant more profitable

Answers

Answer:

b

Explanation:

cuz

Answer:

I would say that it would decrease

Explanation:

True or False: when writing a check, it is not necessary to fill in the Memo line. *

True
False

Answers

Answer:

true

Explanation:

It's not essential that you fill out this field, since it isn't required to cash or deposit the check. But entering a memo can help you and the recipient keep clear records.

In which of the following will equilibrium prices will spontaneously establish themselves, persisting until the forces of supply and demand change

Answers

The competitive market is the one wherein the equilibrium prices tend to spontaneously establish themselves, while also persisting until the forces of supply and demand are affected by the changes.

A competitive market can be easily interpreted as a type of market structure, which includes a number of buyers as well as sellers without many restrictions being imposed for their entry and exit from the market. Due to equal forces of demand and supply, there is usually an equilibrium in the market prices in such an economy where competition exists.

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Complete question

In which market structures will the equilibrium prices will spontaneously establish themselves, persisting until the forces of supply and demand change?

How much external capital is MCI likely to need over the next several years (FY84 - FY88)? By how much could they reasonably be expected to vary?

Answers

MCI is likely to require a significant amount of external capital over the next several years (FY84 - FY88) to support its operations and growth initiatives.

The exact amount of external capital that MCI will need over the specified period depends on various factors such as business expansion plans, investment opportunities, and market conditions. However, considering the capital-intensive nature of the telecommunications industry and MCI's ambitious growth strategy, it can be expected that the capital requirements will be substantial. MCI's need for external capital could arise from investments in network infrastructure, research and development, marketing and sales efforts, acquisitions, and working capital needs. The actual amount of external capital needed may vary based on factors like changes in market dynamics, competitive landscape, regulatory environment, and the company's ability to generate internal cash flows. It is important for MCI to have a robust financial planning and capital management strategy in place to ensure adequate funding for its operations and growth objectives.

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The Lakeshore Hotel's guest-days of occupancy and custodial supplies expense over the last seven months were: Guest-days is a measure of the overall activity at the hotel. For example, a guest who stays at the hotel for three days is counted as three guest-days.
(a) Using the high-low method, estimate a cost formula for custodial supplies expense.

Answers

In cost accounting, the high-low method is a way of attempting to separate out fixed and variable costs given a limited amount of data. The high-low method involves taking the highest level of activity and the lowest level of activity and comparing the total costs at each level.

Particulars                  Guest Days                       Custodial Supplies Expense

High Activity Leve l 11500                                  12600

Low Activity Level   5500                                       10200

Change                        6000                                  2400

Variable cost per

guest day                0.4  

Fixed Cost per                

month                         8000  

   

Total Cost = Total Variable cost + Total Fixed Cost    

10200 = (5500*0.40) + Total Fixed Cost    

Total Fixed Cost = 10200-2200    

Total Fixed Cost = 8000

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what is medium level profession​

Answers

Medicine,agriculture,finance,tourism,teaching public services are the sectors of profession. In every field ,professions are of basic,medium and high levels.for e.g. , assistant health workers (A H W) are the basic level human resources while health assistants (HA)are medium level professionals.
Hope it helps :)

the final step in creating a marketing mix is developing a thorough understanding of the global target market. group of answer choices true false

Answers

The statement "The final step in creating a marketing mix is specifically focused on developing a thorough understanding of the global target market" is False.

The marketing mix refers to the set of tactical elements that a company combines to effectively promote its products or services to its target market. These elements include product, price, place, and promotion. Understanding the target market involves conducting market research, analyzing consumer behavior, and identifying the specific needs, preferences, and characteristics of the intended audience.

However, the global aspect of the target market would come into play if the company is operating in or planning to expand into international markets. In that case, the final step would involve gaining a thorough understanding of the global target market, which includes factors such as cultural differences, local regulations, market trends, competitive landscape, and distribution channels specific to different regions or countries.

Therefore, the statement is false while developing a thorough understanding of the target market is an important step in creating a marketing mix, the global aspect is not a necessary component for all businesses.

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The statement "The final step in creating a marketing mix is specifically focused on developing a thorough understanding of the global target market" is False.

The marketing mix refers to the set of tactical elements that a company combines to effectively promote its products or services to its target market. These elements include product, price, place, and promotion. Understanding the target market involves conducting market research, analyzing consumer behavior, and identifying the specific needs, preferences, and characteristics of the intended audience.

However, the global aspect of the target market would come into play if the company is operating in or planning to expand into international markets. In that case, the final step would involve gaining a thorough understanding of the global target market, which includes factors such as cultural differences, local regulations, market trends, competitive landscape, and distribution channels specific to different regions or countries.

Therefore, the statement is false while developing a thorough understanding of the target market is an important step in creating a marketing mix, the global aspect is not a necessary component for all businesses.

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Example of how a marketer might use specific customer and product information from a database to plan future marketing activities.

Answers

Answer: How can database driven marketing communication programs help personalize interactions with customers? It can be used to create unique marketing programs for customer clusters. Data can be used to develop communications aimed at specific individuals or clusters of individu

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why is foreign employment important ?​

Answers

Answer:

Foreign employment can be important for a number of reasons, including:

Economic growth: Foreign employment can bring in significant amounts of foreign currency to a country, which can help to boost the economy.

Poverty reduction: Foreign employment can provide individuals and families with higher wages than they would be able to earn in their home country, which can help to reduce poverty.

Career development: Foreign employment can provide individuals with opportunities to gain new skills and experiences, which can help to improve their career prospects.

Cultural exchange: Foreign employment can also provide an opportunity for cultural exchange, which can help to promote understanding and tolerance between different countries and cultures.

Remittances: Foreign workers often send money back to their home country, known as remittances, which can be a major source of income for families and communities.

Human Development: Foreign employment can provide individuals with better access to education, healthcare, housing and other essential services, which can improve their overall quality of life and human development.

All in all, Foreign employment can have a positive impact on the economy and society by providing people with better living conditions, opportunities and increasing the GDP.

Answer:

Explanation:

Here are three primary reasons why foreign employment is beneficial for your business.

1.More innovation

A foreigner, being from a different country and culture will bring new ideas and ways to challenges. These insights can be used to enhance processes and systems.

Availability to global markets

2.Access to global markets

Numerous firms leverage the links their overseas employees have to their native nations. Consider a corporation with a German employee that desires to explore the German or European market. The employer is in an ideal position to request insight or even contacts from the German employee in order to create partnerships in Germany.

3.Better fulfilling working atmosphere

Most individuals like learning from their peers. Foreign workers have so much to give their coworkers in this aspect. Not only from a financial standpoint, but also from a personal and cultural standpoint. This makes the workplace more engaging and rewarding for every employee.

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the economy begins at full employment and the cnsumers begin spending a smaller portion of their incomes this would lead to

Answers

If consumers begin spending a smaller portion of their incomes while the economy is at full employment, this would likely lead to a decrease in aggregate demand.

When consumers spend less, it directly affects the consumption component of aggregate demand, which is one of the key drivers of economic activity. A decrease in consumer spending can have ripple effects throughout the economy. The decrease in aggregate demand can lead to several potential outcomes: Reduced business revenues: With lower consumer spending, businesses may experience a decline in sales and revenues, which can affect their profitability and potentially lead to cost-cutting measures such as layoffs or reduced investment. Decreased production and employment: If businesses face reduced demand for their goods and services, they may scale back production, leading to lower employment levels. This can result in a rise in unemployment and reduced income for workers. Slowdown in economic growth: Reduced consumer spending can contribute to an overall slowdown in economic growth, as it affects multiple sectors and reduces the overall level of economic activity. Potential deflationary pressures: If the decrease in consumer spending persists and businesses struggle to sell their goods and services, it can lead to a decrease in prices (deflation) as companies may engage in price reductions to stimulate demand. Policymakers may respond to this situation by implementing measures to stimulate consumer spending, such as fiscal policies (tax cuts, increased government spending) or monetary policies (lowering interest rates) to boost aggregate demand and support economic activity.

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PLEASE HELP

Match each profession with its usual work environment.
1. Solar photovoltaic installer
2. Ironworker
3. Construction manager
4. Cement mason

A.Roof of a building
B.Outdoors at great heights
C.Outdoor job site
D.Field office

Answers

Answer:

1.) Solar photovoltaic installer - a. roof of a building

2.) Ironworker - b. outdoors at great heights

3.) Construction manager - d. field office

4.) Cement Mason - c. outdoor job site

Explanation:

please correct me if I'm wrong

Spell all words correctly.
Identify the marketing research technique implied in the scenario.
A sports beverage company has created a new ad for their product to alr on television. After the ad alrs, they intend to show the ad to a certain
number of customers and then ask them for their feedback regarding the ad. This company is engaging in the
market research technique.

Answers

The marketing research technique implied in the scenario is "advertising research."

What is marketing research?

Generally, Marketing research is the process of gathering and analyzing information about consumers, competitors, and the market environment to inform a company's marketing strategy and decisions. It typically involves collecting data through surveys, focus groups, interviews, and other methods, and then analyzing the data to gain insights about customer preferences and behaviors.

Correct! The marketing research technique implied in the scenario is advertising research, specifically pre-testing an advertisement before it airs to a larger audience.

This helps companies ensure that their advertising messages are effective and resonate with their target audience.

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can you use crest toothpaste if you have braces ?
cavities, gingivitis, acid erosion, sensitivity, plaque, tartar , whitening, freshens breath

Answers

Answer :

Yes you can

Answer:

Yes yu can i have braces

Explanation:

Which two are benefits of equity funding? (Choose two)


1. Loan payments are predictable; they do not change with the fortunes of the business.
2. Can be used to raise working capital.
3. Investors do not get paid if the business does not make a profit.
4. Loan payments can be set up so they match seasonal sales of the business.
5. Investors have no say in the management or direction of the business.

Answers

The benefits of equity funding are it can be used to raise working capital.

Investors do not get paid if the business does not make a profit. Option 2 and option 3 are appropriate response.

What is equity funding?

The practice of raising money through the selling of shares is known as equity funding. Companies raise money to pay expenses in the short term or because they have a long-term objective and need money to invest in their expansion.

A firm effectively sells ownership in their business when it sells equity shares in exchange for money. There are two methods of equity funding: the private placement of stock with investors and public stock offerings.

Equity funding is used when companies, have a short-term need for cash. It is used to raise working capital. It carries no repayment obligation, investors are only paid when the business is profitable.

Hence option 2 and option 3 are correct response.

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In business circles, the galaxy of services that revolves around customers is called customer ___________
management

Answers

Customer relationship management (CRM) refers to the myriad of services that revolve around customers in business circles.

What does Customer Relationship Management (CRM) entail?

A technology for managing all of your company's interactions with customers and potential customers is customer relationship management (CRM).The objective is clear: Enhance business connections. A CRM system aids businesses in enhancing profitability, streamlining procedures, and maintaining customer contact.

What does Customer Relationship Management look like?

Examples of CRM marketing automation include sending a thank-you note to customers who make purchases. If a customer purchases a particular product, you can upsell or cross-sell it to them. distributing a coupon code as a birthday greeting. Sending a markdown to a client that hasn't made a buy as of late.

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What percentage of students have strong critical skills? a. 34% b. 28% c. 70% d. 10%​

Answers

D is the correct answer

2.
A layoff is a type of termination due to a change in business condition
O True
O False

Answers

Answer:

True

Explanation:

layoff definition: A layoff or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees for business reasons, such as personnel management or downsizing an organization.

in perfect competition, the marginal revenue (mr) of an individual firm:_____.

Answers

In perfect competition, the marginal revenue (MR) of an individual firm is equal to the market price.

In a perfectly competitive market, an individual firm is a price taker and has no influence over the market price. As a result, the firm's marginal revenue (MR) is equal to the market price.

The concept of marginal revenue refers to the change in total revenue that occurs when one additional unit of output is produced and sold. In a perfectly competitive market, the firm can sell as many units of the product as it wants at the prevailing market price. Since each unit is sold at the same price, the additional revenue gained from selling one more unit is equal to the market price.

Therefore, in perfect competition, the individual firm's marginal revenue (MR) curve is a horizontal line at the market price. This implies that the firm should produce and sell more units as long as the marginal cost (MC) is less than or equal to the market price, as doing so would increase its profit. However, if the marginal cost exceeds the market price, producing additional units would result in diminishing profit or losses.

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are export tariffs illegal in the United States?

Answers

Answer:

yes, however, it is legal if congress gives consent.

Explanation:

Article I, § 10, clause 2 of the United States Constitution, known as the Import-Export Clause, prevents the states, without the consent of Congress, from imposing tariffs on imports and exports above what is necessary for their inspection laws and secures for the federal government the revenues from all tariffs on imports and exports. Several nineteenth century Supreme Court cases applied this clause to duties and imposts on interstate imports and exports. In 1869, the United States Supreme Court ruled that the Import-Export Clause only applied to imports and exports with foreign nations and did not apply to imports and exports with other states, although this interpretation has been questioned by modern legal scholars.

Answer:

idk

Explanation:

idk

Which answer best approximates the net present value of receiving $1,000 in two years and making a $500 payment three years from today, assuming a 5% discount rate?

Answers

The answer that best approximates the net present value of receiving $1,000 in two years and making a $500 payment three years from today, assuming a 5% discount rate, is $475.11.

The net present value (NPV) of a cash flow is the present value of the cash flow minus the present value of the costs. In this case, the cash flow is receiving $1,000 in two years and the cost is making a $500 payment three years from today. The discount rate is 5%.

To calculate the NPV, we need to find the present value of the cash flow and the present value of the costs.

The present value of the cash flow is calculated as follows:

PV = FV / (1 + r)^n

Where PV is the present value, FV is the future value, r is the discount rate, and n is the number of periods.

The present value of receiving $1,000 in two years is:

PV = $1,000 / (1 + 0.05)^2 = $907.03

The present value of making a $500 payment three years from today is:

PV = $500 / (1 + 0.05)^3 = $431.92

The NPV is the present value of the cash flow minus the present value of the costs:

NPV = $907.03 - $431.92 = $475.11

Therefore, the answer that best approximates the net present value of receiving $1,000 in two years and making a $500 payment three years from today, assuming a 5% discount rate, is $475.11.

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You are a consultant helping to turn around a factory that hasn't adapted to modern manufacturing standards. They receive several truckloads of raw materials each day, which are recorded by hand in a logbook kept at the loading dock. Each of the salesmen keeps a running tally of orders and files them in the sales office. The deliveries are made once a truck is filled. What aspects of this factory can be significantly improved by introducing an EPR (enterprise resource planning) system?

environmental management
sales and revenue
human resource management
equipment maintenance

Answers

Answer:

use of modern technology

Explanation:

to make work and tallying

easy

Answer:Sales and revenue

Explanation:

This is standard business marketing

What is borrowed money called?.

Answers

It is called a loan.
Loans can be taken out from banks or even from yourself or others.

Although channels of distribution allow consumers and industrial users access to products from all over the world, they do not guarantee that consumers will be able to purchase anything they want. Tiny time they want. Certain products may only be available in limited supplies. Because of supply and demand, channel members may be able to charge higher prices for coveted products. This may be fine for a designer handbag, but what if the product is more basic, like fresh water or medical supplies? Or, let's say there is a hurricane or tornado in a certain part of the country, and many people need to repair their homes and roofs. Is it OK for channel members to mark up hardware products during this time to make a bigger profit?

Answers

Answer:

We can more easily obtain products from all over the world. Channels of distribution allow consumers, industrial users, producers, and other channel intermediaries to save time and money. They also allow us to more easily obtain products from all over the world, since we do not have to travel and search for each individual item we wish to purchase.

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If y varies inversely as x, and y =14 when x=8 , find y when x=7 Which of the following correctly describes the movement of Earth, moon and sun? Consider fully developed flow in a circular pipe with negligible entrance effects. If the length of the pipe is doubled, the head loss will:_________ (a) double, (b) more than double, (c) less than double, (d) reduce by half, or (e) remain constant. it can be inferred from the present of serfdom in russia from changing in the 1800s that russia was Solve the equation |-2y+5|=2|3y-1| 2) How did legislation impact immigration? Use evidence to support your answer. Include in-text citations. HELP!!!!!!!!!! QUICK!!!!!!How did Carnegies purchase of Allegheny Steel help him form a monopoly?The purchase helped Carnegie produce steel more efficiently.The purchase helped Carnegie control most of the rail lines.The purchase gave Carnegie control of coke production.The purchase gave Carnegie access to raw materials. What VFR cloud clearances must be maintained within class D airspace? half of a number is 16. What is the number?A. 8B. 4C. 64D. 32 I need help with part a to this question Determine The Sum Of - -5-8-11--------269 b)1-3+9----243 Find y as a function of t if2y+33y=0,y(0)=6,y(0)=9.y(t)=?Note: This particular weBWorK problem can't handle complexnumbers, so write your answer in terms of sines and cosines, ratherthan using e to a complex power. Maya is concerned about her credit problems and is worriedabout the debt she's accumulated throughout college. Whichof the following strategies is the most advisable for Maya?automatically apply for bankruptcyimmediately consolidate her loanslook for a reputable credit counselor Discuss Bandaloop Dance CompanyDescribe who, what, when, where and why you chose this particular dance, critique the performance and be sure to include the "Title" of the dance. what time does foot locker announce raffle winners infrared radiation has wavelengths ranging from about 800 nm to 1 mm. what is the frequency of radiation of wavelength 960 nm? answer in units of s1 . Choose the correlation coefficient that would best fit the data in the scatter plot below."600500 -Max distance to read sign400300 -15253545758555 65Driver Age (years)417898no correlation-7835 haberdashery company has a beginning work-in-process inventory of 25,000 units (40% complete). during the period, 110,000 units were started and the ending work-in-process inventory consisted of 20,000 units (80% complete). what are the equivalent units for conversion costs using weighted-average process costing? Pls tell me witch one it is :3 Assuming a case reached it, which type of law is the Supreme Court responsible for determining whether or not it is constitutional? state law federal law ordinance any law