Monthly payments, P = {R/12*A}/{1- (1+R/12)^-12n}
Where R = APR = 4.4% = 0.044, A = Amount borrowed = $60,000, n = Time the loan will be repaid
For 20 years, n = 20 years
P1 = {0.044/12*60000}/{1- (1+0.044/12)^-12*20} = $376.36
Total amount to be paid in 20 years, A1 = 376.36*20*12 = $90,326.30
For 3 years early, n = 17 year
P2 = {0.044/12*60,000}/{1-(1+0.044/12)^-12*17} = $418.22
Total amount to be paid in 17 years, A2 = 418.22*17*12 = $85,316.98
The saving when the loan is paid off 3 year early = A1-A2 = 90,326.30 - 85,316.98 = $5,009.32
Therefore, the approximate amount of savings is A. $4,516.32. This value is lower than the one calculated since the time of repaying the loan does not change. After 17 years, the borrower only clears the remaining amount of the principle amount.
Hey there,
To find the value of x we can take the two, CD or DE and set them equal to CE.
First step is set the lines equal to each other:
Now we combine like terms:
Then we subtract 7x from both sides:
Add 6 to both sides:
Lastly we divide both sides by 2:
So the value of x would have to be 5.
Hope I helped,
Amna
Provide the approximated measurement to associate the volume of water.
Answer:
Step-by-step explanation:
From the given information;
the probability of getting returned p = 0.1
If eight rings are sold today, what is the probability that fewer than three will be returned;
According to binomial distribution
Binomial distribution is the probability of success or failure of an outcome of an experiment under observation which is usually repeated several trials. Binomial experiments are random experiment with fixed number of repeated experiment. If we cannot predict before head, the outcome of an experiment , the experiment is called a random experiment.
So , using binomial distribution to determine the probability that fewer than three will be returned;
i.e
