Answer:
The principal amount was $23,393.45
Step-by-step explanation:
The total amount paid on a 35 year loan was $98,000 at the rate of interest 4.1%
We will calculate Principal amount by this formula
Where A = amount (98,000)
P = Principal amount (P)
r = rate of interest 4.1% (0.041)
n = number of compounding interest monthly (12)
t = time (35 years)
98,000 = P(4.189386)
= 4.189386P = 98,000
P =
P = 23,392.4494 ≈ $23,392.45
The principal amount was $23,393.45
Answer:
a. 52%
b. 40%
Step-by-step explanation:
Let A represents the event of raining on Monday and B represents the event of raining in Tuesday,
Then according to the question,
P(A) = 20% = 0.2,
P(B) = 40% = 0.4,
Here, A and B are independent events,
So, P(A∩B) = P(A) × P(B),
⇒ P(A∩B) = 0.2 × 0.4 = 0.08
We know that,
P(A∪B) = P(A) + P(B) - P(A∩B)
a. The probability it rains on Monday or Tuesday, P(A∪B) = 0.2 + 0.4 - 0.08
= 0.52
= 52%
b. The conditional probability it rains on Tuesday given that it rained on Monday,