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storchak [24]
2 years ago
10

Arnold borrowed $7890 at 11.5 percent for five years. How much did Arnold pay in interest?

Mathematics
2 answers:
Rudiy272 years ago
5 0
937.5 is what I got.
Anna71 [15]2 years ago
4 0

Answer:

The total amount Arnold pay in interest is $ 2521.30

Step-by-step explanation:

Given :Arnold borrowed $7890 at 11.5 percent for five years.

We have to find the amount Arnold pay in interest

Using formula for monthly payment ,

Monthly\ payment = \frac{rate \times Principal}{1-(1+rate)^{-time\ period}}

Given :  Principal value = $7890

Rate of interest = 11.5% anually

So monthly interest rate is \frac{11.5}{1200}

Time = 5 years

In months 5 years = 5 ×  12 = 60 month

Substitute, above we have,

Monthly\ payment=7890\cdot\frac{\frac{11.5}{1200}}{\left(1-\left(1+\frac{11.5}{1200}\right)^{-60}\right)}

Simplify, we get,

Monthly payment = $ 173.52

Total payment that Arnold pay = No. of months × Monthly Payment

⇒ Total Payment = 60 × 173.52

⇒ Total Payment =  $ 10411.30

Since, Money Arnold borrowed = $7890

Thus, Amount of interest = Total payment - Amount borrowed

⇒ Interest = 10411.30 - 7890

⇒ Interest = $2521.30

Thus, The total amount Arnold pay in interest is $ 2521.30

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Answer:

(a) For the stem-and-leaf plot, we need to organise all data in columns, one column is the stem and a second column is the leaf, but in this case, stems are going to be the digits to the left of the decimal point, and leafs are the digits to the right of the decimal point:

<u>Stem</u>            <u> Leaf </u>

0             2 2 2 3 3 4 5 7

1              0 2 3 5 5 8

2             0 3 5

3             0 3

4             0 5 7

5             0 5 6 9

6             0 0 0 5

(b) Relative frequency distribution.

Remember that, a relative frequency is calculated dividing the absolute frequency by the total data, in this case, we approximated to the hundredth.

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0.2                              3                                        0.1                                10

0.3                              2                                        0.07                              7

0.4                              1                                         0.03                              3

0.5                              1                                         0.03                              3

0.7                              1                                         0.03                              3

1.0                               1                                         0.03                              3

1.2                               1                                         0.03                              3

1.3                               1                                         0.03                              3

1.5                               2                                        0.07                              7

1.8                               1                                         0.03                              3

2.0                              1                                         0.03                              3

2.3                              1                                         0.03                              3

2.5                              1                                         0.03                              3

3.0                              1                                         0.03                              3

3.3                              1                                         0.03                              3

4.0                              1                                         0.03                              3

4.5                              1                                         0.03                              3

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5.0                              1                                         0.03                              3

5.5                              1                                         0.03                              3

5.6                              1                                         0.03                              3

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6.0                              3                                        0.10                               10

6.5                              1                                         0.03                              3

Total                          30                                          

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