Jackie took out a $9,000 personal loan with a 4.5% interest rate that she will pay back in 3 years. She will make monthly paymen
1 answer:
Answer:
Total cost of repayment is $10,852.92
Step-by-step explanation:
Firstly, we need to calculate the interest attached to this loan repayment
To calculate this, we use the formula for simple interest
Mathematically,
I =
where P is the amount borrowed which is $9,000
R is the rate which is 4.5%
T is the time which is 3 years
Plugging these values, we have
I = (9000×4.5×3)/100 = $1,215
Now we were also told in the question that she will make a monthly repayment of $267.72
Now the number of months in 3 years is 36 months. Total monthly repayment = 267.72 × 36 = $9637.92
Adding the interest amount, we have 9637.92 + 1215 = $10,852.92
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Answer:
0.153
Step-by-step explanation:
We have been given that Mafalda has a save percentage of 0.738 so far this hockey season. Last season, her save percentage was 0.585.
To find improvement in Mafalda's save percentage we will subtract last season's save percentage from this season's save percentage.
Therefore, Mafalda's save percentage improved by 0.153.
Answer:
Each adult male has a 5.05% probability of having a hip width greater than 16.2 inches.
There is a 0.01% probability that the 110 adult men will have an average hip width greater than 16.2 inches.
Step-by-step explanation:
Problems of normally distributed samples can be solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by
After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X. Subtracting 1 by the pvalue, we This p-value is the probability that the value of the measure is greater than X.
In this problem
Assume that adult men have hip breadths that are normally distributed with a mean of 14.4 inches and a standard deviation of 1.1 inches. This means that .
What is the probability that any one of those adult male will have a hip width greater than 16.2 inches?
For each one of these adult males, the probability that they have a hip width greater than 16.2 inches is 1 subtracted by the pvalue of Z when X = 16.2. So:
has a pvalue of 0.9495.
This means that each male has a 1-0.9495 = 0.0505 = 5.05% probability of having a hip width greater than 16.2 inches.
For the average of the sample
What is the probability that the 110 adult men will have an average hip width greater than 16.2 inches?
Now, we need to find the standard deviation of the sample before using the zscore formula. That is:
.
Now
has a pvalue of 0.9999.
This means that there is a 1-0.9999 = 0.0001 = 0.01% probability that the 110 adult men will have an average hip width greater than 16.2 inches.