math review question

The interest rate on an equity line of credit was 6 3/4 % last year. This year the interest rate is 9 1/2 %. How many percentage points has the interest rate increased?

  1. 👍 0
  2. 👎 0
  3. 👁 242
  1. 9 1/2 - 6 3/4 =
    8 6/4 - 6 3/4 = ??

    We'll be glad to check your answer.

    1. 👍 0
    2. 👎 0
    👩‍🏫
    Ms. Sue

Respond to this Question

First Name

Your Response

Similar Questions

  1. math

    Michael has a total of $2000 on deposit with two saving institutions. One pays interest at the rate of 6% per year whereas the other pays interest at a rate of 8% per year. If Michael earned a total of $144 in interest during a

  2. math

    Find the monthly interest payment in the situation described below. Assume that the monthly interest rate is 1 divided by 1/12 of the annual interest rate. You maintain an average balance of ​$780 on your credit​ card, which

  3. math

    Case: A borrower received a 30-year ARM mortgage loan for $200,000. Rate caps are 3/2/6. The start rate is 3.50% and the loan adjusts every 12 months for the life of the mortgage. The index used for this mortgage is LIBOR (for

  4. Calculus

    Michael Perez deposited a total of $4000 with two savings institutions. Bank A pays interest at the rate of 5%/year, whereas Bank B pays interest at the rate of 8%/year. If Michael earned a total of $308 in interest during a

  1. Personal Finance

    Which of the following statements is true concerning home equity loans? A. Home equity loans are generally installment loans with a 5-15 year term. B. Home equity loans are secured by all of the borrower’s assets. C. Home equity

  2. MATH

    a borrower received a 30 year ARM mortgage loan for 200,000. Rate caps are 3/2/6 the start rate is 3.50% AND the loan adjusts every 12 months for the life of the mortgage, The index used for this mortgage is LIBOR which for this

  3. business

    You have recently learned that the company where you work is being sold for $275,000. The company’s income statement indicates current profits of $10,000 which have yet to be paid out as dividends. Assuming the company will

  4. Capital Investment and Financing Decisions.

    1)Find the present value of Rs. 2,000 due in 6 years if money is worth compounded semi-annually. (b) Ascertain the present value of an amount of Rs. 8,000 deposited now in a commercial bank for a period of 6 years at 12% rate of

  1. fin

    1. A financial institution has the following market value balance sheet structure: (LG 19-1) Assets Liabilities and Equity . Cash $ 1,000 Certificate of deposit $ 10,000 Bond 10,000 Equity 1,000 Total assets $11,000 Total

  2. Business finance

    In a discount interest loan, you pay the interest payment up front. For example, if a 1-year loan is stated as $10,000 and the interest rate is 10 percent, the borrower “pays” 0.10 x $10,000 = $1,000 immediately, thereby

  3. Math

    Interest is a concept familiar to most people: every credit card in existence has a term called annual percentage rate (APR), which is an interest rate. Suppose you charged $1,000 to a credit card that has a minimum payment each

  4. Intermediate Algebra

    Suppose you have a credit card debt of $6000. Last month, the bank charged you $85 interest on the deb. The solution to the equation is 85=6000/12 r represents the annual interest rate on the credit card. Find the annual interest

You can view more similar questions or ask a new question.