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:
The Probability found is:
P =
Step-by-step explanation:
Let x be the 10 cents coin.
Let y be the 25 cents coin.
We have to find all the possible outcomes
1) First coin = 10 cents, Second coin = 10 cents , so
(x,x) = 20
2) First coin = 10 cents, Second coin = 25 cents , so
(x,y) = 35
3) First coin = 25 cents, Second coin = 10 cents , so
(y,x) = 35
4) First coin = 25 cents, Second coin = 25 cents , so
(y,y) = 50
Find the probability of each outcome:
P(x,x) =
P(x,y) =
P(y,x) =
P(y,y) =
Add all the probabilities where sum is at least 35 i.e P(x,y) , P(y,x) , P(y,y)
P(x,y) + P(y,x) + P(y,y) =