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2 years ago

Find the interest due to the bank on a loan of $1000 at 7.5% for 280 days

Mathematics

1 answer:

Lera25 [3.4K]2 years ago

7 0

Answer:

The interest is $\$57.53$

Step-by-step explanation:

we know that

The simple interest formula is equal to

$I=P(rt)$

where

I is the Final Interest Value

P is the Principal amount of money to be invested

r is the rate of interest

t is Number of Time Periods

in this problem we have

$t=280/365\ years\\ P=\$1.000\\r=0.075$

substitute in the formula above

$I=\$1.000(0.075*280/365)$

$I=\$57.53$

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2 years ago

A deli is offering two specials. The roast beef special gives a profit of $2.30 per sandwich, and the turkey special gives a pro

nikklg [1K]

Answer:

The constraints are as follows;

1) 2·x + 2·y ≤ 120

2) 3·x + 4·y ≤ 160

3) x = 2.30

4) y = 3.10

5) P = 2.3·x + 3.10

Step-by-step explanation:

The question is a word problem, with the analysis as follows;

The profit from the roast beef special per sandwich = $2.30

The profit from the turkey special per sandwich = $3.10

The number of slices of bread in the roast beef special = Two slices

The number of slices of cheese in the roast beef special = Three slices

The number of slices of bread in the turkey special = Two slices

The number of slices of cheese in the turkey special = Four slices

The number of slices of bread the deli has = 120 slices

The number of slices of cheese the deli has = 160 slices

Let 'x' and represent the number of roast beef special and 'y' represent the number of turkey special the deli makes, then we have the constraints as follows;

For the number of slices of bread used;

2·x + 2·y ≤ 120...(1)

For the number of slices of cheese used;

3·x + 4·y ≤ 160...(2)

x = 2.30

y = 3.10

The profit 'P' is given by the following equation

P = 2.3·x + 3.10.

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2 years ago

If a hurricane was headed your way, would you evacuate? The headline of a press release states, "Thirty-four Percent of People o

IgorC [24]

Answer:

The 98% confidence interval would be given by (0.326;0.354)

Step-by-step explanation:

1) Notation and definitions

$X=63$ number of people who live within 20 miles of the coast in high hurricane risk counties of eight southern states

$n=6138$ random sample taken

$\hat p=0.34$ estimated proportion of people who live within 20 miles of the coast in high hurricane risk counties of eight southern states

$p$ true population proportion of people who live within 20 miles of the coast in high hurricane risk counties of eight southern states

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

The population proportion have the following distribution

$p \sim N(p,\sqrt{\frac{p(1-p)}{n}})$

2) Confidence interval

In order to find the critical value we need to take in count that we are finding the interval for a proportion, so on this case we need to use the z distribution. Since our interval is at 98% of confidence, our significance level would be given by $\alpha=1-0.98=0.02$ and $\alpha/2 =0.01$ . And the critical value would be given by: