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Zinaida [17]
1 year ago
15

Sienna has a car loan with an annual interest rate of 4.8%. She will make the same monthly payment for 48 months, after which th

e loan will be paid back. Diego says that Sienna’s loan is an example of closed-end credit while Sienna says it is an example of open-end credit. Which statement about the loan is true?
Mathematics
1 answer:
Komok [63]1 year ago
6 0

Answer: Sienna’s loan is an example of closed-end credit

Step-by-step explanation: The main difference between closed-end credit and open-end credit is in the terms of the debt and its repayment.

Open-end credit are loans taken which are not restricted to a specific use or duration i.e the banks allows it's customers to take loans without a specific or set duration during which it most be paid back, the customer just have to promise that they will back back on time. Credit card accounts and debit cards are a good example of open-credit.

On the other hand, a close-end credit are loans taken by individuals or business for a particular period as specified, during which the individual or business is required to make regular payments. At the end of the set period the individual or business is required to pay back the entire loan, interest fee and maintenance fee. Mortgage and car loans are a good example of closed-end credit.

So Diego's statement is the correct statement; Sienna’s loan is an example of closed-end credit

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2 years ago
Every day, there are 3 times more likes on an internet video of a cat which is modeled by the function c(n) = (3)n − 1, where n
Kisachek [45]

Answer: Hi! the answer is D, now let's prove it:

Ok, let's analyze our problem; we know two facts:

1) the first day, the video has 143 likes

2) each day that pases, there are 3 times more likes.

this means, that the day 1, the video has 143 like, the day 2, has 3*143 = 429 likes, the day 3, it has 3*429 = 1287

now, this is f(n) = the number 143 multiplied by 3 (n - 1) times, where n is the amount of days.

the function that describes this is f(n) = 143*3^{n -1}

when n = 1, f(1) = 143*3^{0} = 143

when n = 2, f(2) =  143*3^{1} = 143*3

and so on, so the correct answer is D.

Also you can check the other functions if you like:

A) c(1) = (3)(143)^{1-1} = 3, so A doesn't work for the first day.

B) c(1) = 143^{1-1} = 1, B neither works for the first day.

C)  c(1) = (3)143 − 1 = 428. C neither works for the first day

6 0
2 years ago
Marketing companies have collected data implying that teenage girls use more ring tones on their cell phones than teenage boys d
ASHA 777 [7]

Answer:

The p-value here is 0.0061, which is very small and we have evidence that the girls' mean is higher than the boys' mean.

Step-by-step explanation:

We suppose that the two samples are independent and normally distributed with equal variances. Let \mu_{1} be the mean number of ring tones for girls, and \mu_{2} the mean number of ring tones for boys.

We want to test H_{0}: \mu_{1}-\mu_{2} = 0 vs H_{1}: \mu_{1}-\mu_{2} > 0 (upper-tail alternative).

The test statistic is

T = \frac{\bar{X}_{1}-\bar{X}_{2}-0}{S_{p}\sqrt{1/n_{1}+1/n_{2}}}

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s_{p} = \sqrt{\frac{(19)(1.5)^{2}+(19)(0.8)^{2}}{38}} = 1.2021 and the observed value is

t = \frac{3.2-2.2}{1.2021\sqrt{1/20+1/20}} = \frac{1}{0.3801} = 2.6309.

We can compute the p-value as P(T > 2.6309) where T has a t distribution with 20 + 20 - 2 = 38 degrees of freedom, so, the p-value is 0.0061. Because the p-value is very small, we can reject the null hypothesis for instance, at the significance level of 0.05.

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