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Vesnalui [34]
2 years ago
7

Eddie took out a 14-year loan for $72,000 at an APR of 4.7%, compounded monthly, while Lee took out a 14-year loan for $92,000 a

t an APR of 4.7%, compounded monthly. Who would save more by paying off his loan 6 years early?
A. Lee would save more, since he has $20,000 more in principal.
B. Lee would save more, since he has $20,000 less in principal.
C. Eddie would save more, since he has $20,000 less in principal.
D. Eddie would save more, since he has $20,000 more in principal.
Mathematics
2 answers:
boyakko [2]2 years ago
7 0

Answer:

Lee

Step-by-step explanation:

It is given in the problem that Lee has taken a loan of $ 92,000 while Eddie has taken a loan of only $72,000.

however, the rate of interest and the tenure is the same for both of them. Hence, it is the principle which is going to affect the interest incurred on Lee or Eddie.

As Lee has higher amount of loan , the interest ion him will be high as compared to the Eddie. Thus Lee will save more if both of them pay their debt in 8 years that is 6 years before the due time.

marishachu [46]2 years ago
4 0
**Eddie: $72000/(14yr*12mo)=428.6$/mo+428.6$*(4.7%)/100%
Eddie pays 428.6$/mo+20.14$/mo. If he pays off his loan 6 years earlier he would save: $20.14*6yr*12mo= $1450.08
**Lee: $92000/(14yr*12mo)=547.62$/mo+547.62$*(4.7%)/100%
Lee pays 547.62$/mo+25.74$/mo. If he pays off his loan 6 years earlier he would save: $25.74*6yr*12mo=$1853.28

So its A. <span>Lee would save more, since he has $20,000 more in principal.</span>
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2 years ago
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A​ 0.8-liter bottle of Mexican wine costs 101 pesos. At that​price, how much would a​ half-gallon jug of the same wine cost in​d
monitta

Answer:

$12.18

Step-by-step explanation:

Given:

Cost of 0.8 liter bottle of Mexican wine = 101 pesos

or

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also,

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cost of half gallon jug =  \frac{\textup{101}}{\textup{0.8}}\times0.051\times1.892705 dollars

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cost of half gallon jug of wine = $12.18

3 0
2 years ago
7) Let the random variable X represent the amount of money Dan makes doing lawn care in a randomly selected week in the summerAs
Sphinxa [80]

Answer:

Option A. 0.6 is the right answer.

Step-by-step explanation:

Given information is:

Mean = $240

SD = $60

The probability of Dan making less than $255 has to be found.

Let x = 255

First of all, we will find the z-score of the given value

z = \frac{x-mean}{SD}\\z = \frac{255-240}{60}\\z = \frac{15}{60}\\z = 0.25

Now the z-score table will be used to see the probability of less than 0.25

Using the z-score table, we get:

P(x<0.25) = 0.5987

As the answer choices are rounded off to one decimal place, we will round off our answer to one digit after the decimal point

0.5987 => 0.6

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Option A. 0.6 is the right answer.

6 0
1 year ago
The sign shows distances from a rest stop to the exits for different towns along a straight section of highway. The state depart
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Refer to the diagram shown below.

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2 years ago
Use Lagrange multipliers to find the maximum and minimum values of f(x, y, z) = x − 2y + 5z on the sphere x 2 + y 2 + z 2 = 30.
Gekata [30.6K]

Answer:

Maximum: ((1,-2,5) ; 30)

Minimum: ((-1,2,-5) ; -30)

Step-by-step explanation:

We have the function f(x,y,z) = x - 2y + 5z, with the constraint g(x,y,z) = 30, with g(x,y,z) = x²+y²+z². The Lagrange multipliers Theorem states that, the points (xo,yo,zo) of the sphere where the function takes its extreme values  should satisfy this equation:

grad(f) (xo,yo,zo) = λ * grad(g) (xo,yo,zo)

for a certain real number λ. The gradient of f evaluated on a point (x,y,z) has in its coordinates the values of the partial derivates of f evaluated on (x,y,z). The partial derivates can be calculated by taking the derivate of the function by the respective variable, treating the other variables as if they were constants.

Thus, for example, fx (x,y,z) = d/dx x-2y+5z = 1, because we treat -2y and 5z as constant expressions, and the partial derivate on those terms is therefore 0. We calculate the partial derivates of both f and g

  • fx(x,y,z) = 1
  • fy(x,y,z) = -2
  • fz(x,y,z) = 5
  • gx(x,y,z) = 2x (remember that y² and z² are treated as constants)
  • gy(x,y,z) = 2y
  • gz(x,y,z) = 2z

Thus, for a critical point (x,y,z) we have this restrictions:

  • 1 = λ 2x
  • -2 = λ 2y
  • 5 = λ 2z
  • x²+y²+z² = 30

The last equation is just the constraint given by g, that (x,y,z) should verify.

We can put every variable in function of λ, and we obtain the following equations.

  • x = 1/2λ
  • y = -2/2λ = -1/λ
  • z = 5/2λ

Now, we replace those values with the constraint, obtaining

(1/2λ)² + (-1/λ)²+(5/2λ)² = 30

Developing the squares and taking 1/λ² as common factor, we obtain

(1/λ²) * (1/4 + 1 + 25/4) = (1/λ²) * 30/4 = 30

Hence, λ² = 1/4, or, equivalently,\lambda =^+_- \frac{1}{2} .

If \lambda = \frac{1}{2} , then 1/λ is 2, and therefore

  • x = 1
  • y = -2
  • z = 5

and f(x,y,z) = f(1,-2,5) = 1 -2 * (-2) + 5*5 = 30

If \lambda = - \frac{1}{2} , then 1/λ is -2, and we have

  • x = -1
  • y = 2
  • z = -5

and f(x,y,z) = f(-1,2,-5) = -1 -2*2 + 5*(-5) = -30.

Since the extreme values can be reached only within those two points, we conclude that the maximun value of f in the sphere takes place on ((1,-2,5) ; 30), and the minimun value takes place on ((-1,2,-5) ; -30).

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2 years ago
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