Ask question

Ask question

All categories

2 years ago

9

Christopher took out a 4 year loan for $1150 at a sports-equipment store to be paid back with monthly payments at a 42% APR, com

pounded monthly. If the loan offers no payments for the first 9 months, how much will Christopher owe when he begins making payments?
O A. $1150.00

O B. $1199.24

O C. $1359.98

O D. $1186.74

2 answers:

DerKrebs [107]2 years ago

7 0

Answer: $1186.74

Step-by-step explanation:

Licemer1 [7]1 year ago

7 0

Answer:

The correct option is D.

Step-by-step explanation:

It is given that Christopher took out a 4 year loan for $1150 at a sports-equipment store to be paid back with monthly payments at a 4.2% APR, compounded monthly.

The formula for amount after compound interest is

$A=P(1+\frac{r}{n})^{t}$

Where, P is principal, r is rate of interest, n is number of time interest compounded in a period, number of periods.

According to the given information,

P=1150

r=0.042

n=12

t=9

Put these values in the above formula,

$A=1150(1+\frac{0.042}{12})^{9}$

$A=1186.73631355$

$A\approx 1186.74$

Christopher owe $1186.74 when he begins making payments. Therefore the correct option is D.

You might be interested in

At an ocean-side nuclear power plant, seawater is used as part of the cooling system. This raises the temperature of the water t

grandymaker [24]

Answer:

(a1) The probability that temperature increase will be less than 20°C is 0.667.

(a2) The probability that temperature increase will be between 20°C and 22°C is 0.133.

(b) The probability that at any point of time the temperature increase is potentially dangerous is 0.467.

(c) The expected value of the temperature increase is 17.5°C.

Step-by-step explanation:

Let <em>X</em> = temperature increase.

The random variable <em>X</em> follows a continuous Uniform distribution, distributed over the range [10°C, 25°C].

The probability density function of <em>X</em> is:

$f(X)=\left \{ {{\frac{1}{25-10}=\frac{1}{15};\ x\in [10, 25]} \atop {0;\ otherwise}} \right.$

(a1)

Compute the probability that temperature increase will be less than 20°C as follows:

$P(X$

Thus, the probability that temperature increase will be less than 20°C is 0.667.

(a2)

Compute the probability that temperature increase will be between 20°C and 22°C as follows:

$P(20$

Thus, the probability that temperature increase will be between 20°C and 22°C is 0.133.

(b)

Compute the probability that at any point of time the temperature increase is potentially dangerous as follows:

$P(X>18)=\int\limits^{25}_{18}{\frac{1}{15}}\, dx\\=\frac{1}{15}\int\limits^{25}_{18}{dx}\,\\=\frac{1}{15}[x]^{25}_{18}=\frac{1}{15}[25-18]=\frac{7}{15}\\=0.467$

Thus, the probability that at any point of time the temperature increase is potentially dangerous is 0.467.

(c)

Compute the expected value of the uniform random variable <em>X</em> as follows:

$E(X)=\frac{1}{2}[10+25]=\frac{35}{2}=17.5$

Thus, the expected value of the temperature increase is 17.5°C.

7 0

2 years ago

You receive an email asking you to forward it to four other people to ensure prosperity. Assuming the chain isn't broken, how ma

dolphi86 [110]

well if it asks you to send to 4 people and there are 8 generations which includes yours that mean

1 sent to 4 - 4 recived

4 send to 4 each = 16 recived + the 4 before = 20 (generation 2)

16 send to 4 = 64 + 20 = 84 (generation 3)

64 send to 4 = 256 + 84= 320 (g4)

256 send to 4 = 1024 + 320 = 1344 (g5)

1344 s t 4 = 5376 + 1344= 6730 (g6)

so on and so forth till generation 8

4 0

1 year ago

Read 2 more answers

Suppose bug A lands on the end of the blade farthest from the pivot. Assume the wiper turns through an angle of 120°. In one cyc

ruslelena [56]

Answer:

s = 21.33*π in

Step-by-step explanation:

Given:

- The complete data is given in the figure (attached):

Solution:

- The bugs lands on the end of the wiper blade furthest to the pivot. The arc length (s) swept by a wiper in one cycle i.e θ = 120° would be given by:

s = 2*r*θ

- Where, r: The distance between the bug and the pivot = 16 in

θ : Angle swept in radians

- The distance travelled by the bug is s:

s = 2*(16)*( 120 / 180 ) * π

s = 21.33*π in

3 0

2 years ago

Let ff be the function given by f(x)=e2x−1 x f(x)=e2x−1 x. Which of the following equations expresses the property that f(x)f(x)

navik [9.2K]

Answer:

Step-by-step explanation:

$\lim_{x \to \ 0} \frac{e^{2x}-1 }{x} \\= \lim_{x \to \0} \frac{e^{2x}-1 }{2 x} *2\\\rightarrow2 log e\\\rightarrow 2$

5 0

2 years ago

Read 2 more answers

In a recent year, a sample of grade 8 Washington State public school students taking a mathematics assessment test had a mean sc

Daniel [21]

Answer:

The number is $N =1147$ students

Step-by-step explanation:

From the question we are told that

The population mean is $\mu = 281$

The standard deviation is $\sigma = 34.4$

The sample size is n = 2000

percentage of the would you expect to have a score between 250 and 305 is mathematically represented as

$P(250 < X < 305 ) = P(\frac{ 250 - 281}{34.4 } < \frac{X - \mu }{\sigma } < \frac{ 305 - 281}{34.4 } )$

Generally

$\frac{X - \mu }{\sigma } = Z (Standardized \ value \ of \ X )$

So

$P(250 < X < 305 ) = P(-0.9012< Z$

$P(250 < X < 305 ) = P(z_2 < 0.698 ) - P(z_1 < -0.9012)$

From the z table the value of $P( z_2 < 0.698) = 0.75741$

and $P(z_1 < -0.9012) = 0.18374$

$P(250 < X < 305 ) = 0.75741 - 0.18374$

$P(250 < X < 305 ) = 0.57$

The percentage is $P(250 < X < 305 ) = 57\%$

The number of students that will get this score is

$N = 2000 * 0.57$

$N =1147$

6 0

2 years ago