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2 years ago

5

Suppose you borrowed $15,000 at a rate of 11.1% and must repay it in 5 equal installments at the end of each of the next 5 years

. How much interest would you have to pay in the first year?

1 answer:

Elodia [21]2 years ago

3 0

Answer:

The answer is $1,665.

Step-by-step explanation:

<h2>$15,000 x 0.111 (11.1%) = $1,665 x 5 = $8,325 ÷ 5 = $1,665</h2><h2> </h2><h2 /><h2 />

You might be interested in

The time for a professor to grade a student's homework in statistics is normally distributed with a mean of 12.6 minutes and a s

Rus_ich [418]

Answer:

37.23% probability that randomly selected homework will require between 8 and 12 minutes to grade

Step-by-step explanation:

Problems of normally distributed samples are solved using the z-score formula.

In a set with mean $\mu$ and standard deviation $\sigma$ , the zscore of a measure X is given by:

$Z = \frac{X - \mu}{\sigma}$

The Z-score measures how many standard deviations the measure is from the mean. 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, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

In this problem, we have that:

$\mu = 12.6, \sigma = 2.5$

What is the probability that randomly selected homework will require between 8 and 12 minutes to grade?

This is the pvalue of Z when X = 12 subtracted by the pvalue of Z when X = 8. So

X = 12

$Z = \frac{X - \mu}{\sigma}$

$Z = \frac{12 - 12.6}{2.5}$

$Z = -0.24$

$Z = -0.24$ has a pvalue of 0.4052

X = 8

$Z = \frac{X - \mu}{\sigma}$

$Z = \frac{8 - 12.6}{2.5}$

$Z = -1.84$

$Z = -1.84$ has a pvalue of 0.0329

0.4052 - 0.0329 = 0.3723

37.23% probability that randomly selected homework will require between 8 and 12 minutes to grade

7 0

2 years ago

Match the information with the locations where the information belongs in a resume.

Marina86 [1]

Your question is in the wrong category but I will try to help. 1. objective 2. awards 4. skill summary I've been really thinking about 3 and 5 because of their close. I think it might be 3. education maybe?

8 0

2 years ago

Read 2 more answers

The formula that relates the length of a ladder, L, that leans against a wall with distance d from the base of the wall and the

Ulleksa [173]

Answer:

Step-by-step explanation:

The formula that relates the length of a ladder, L, that leans against a wall with distance d from the base of the wall and the height h that the ladder reaches up the wall is L = StartRoot d squared + h squared EndRoot. What height on the wall will a 15-foot ladder reach if it is placed 3.5 feet from the base of a wall?

L = √d² + h²

4 0

1 year ago

Read 2 more answers

On a coordinate plane, solid circles appear at the following points: (negative 4, 2), (negative 2, 2), (negative 1, 4), (1, 1),

Elenna [48]

Answer:

(1, 3)

Step-by-step explanation:

Given:

A circle with the following points on it-

(4, 2), (-2, 2), (-1, 4), (1, 1), (1, 3), (2, -3).

A function is just like a machine that gives an output for a given unique input. No two outputs can have the same input.

The input to a function is called the domain of a given function. The output of a function is called its range.

The domain is represented by the 'x' coordinate and the range is represented by the 'y' coordinate.

So, the domain is the independent variable and range depends on the values of the domain.

Now, a relation of set of points represents a function only if all the 'x' coordinates of the set of ordered pairs are different.

Now, in the relation above, the ordered pairs (1, 1) and (1, 3) have the same input. So removing either of the two will make the relation a function.

So, the correct option is (1, 3).

5 0

2 years ago

Read 2 more answers

The caller times at a customer service center has an exponential distribution with an average of 22 seconds. Find the probabilit

jenyasd209 [6]

Answer:

The probability that a randomly selected call time will be less than 30 seconds is 0.7443.

Step-by-step explanation:

We are given that the caller times at a customer service center has an exponential distribution with an average of 22 seconds.

Let X = caller times at a customer service center

The probability distribution (pdf) of the exponential distribution is given by;

$f(x) = \lambda e^{-\lambda x} ; x > 0$

Here, $\lambda$ = exponential parameter

Now, the mean of the exponential distribution is given by;

Mean = $\frac{1}{\lambda}$

So, $22=\frac{1}{\lambda}$ ⇒ $\lambda=\frac{1}{22}$

SO, X ~ Exp( $\lambda=\frac{1}{22}$ )

To find the given probability we will use cumulative distribution function (cdf) of the exponential distribution, i.e;

$P(X\leq x) = 1 - e^{-\lambda x}$ ; x > 0

Now, the probability that a randomly selected call time will be less than 30 seconds is given by = P(X < 30 seconds)

P(X < 30) = $1 - e^{-\frac{1}{22} \times 30}$

= 1 - 0.2557

= 0.7443

7 0

2 years ago