Answer:
Therefore, the approximate monthly payment is $548.85
Step-by-step explanation:
The amount of student loans Erica currently has = $34,006.00
The duration over which Erica is to pay back the loan = 7 years
The annual interest rate for the loan = 9.1%
Therefore, we have the geometric sequence formula is given as follows;
![A_n = P( 1 + r)^n - M \times \left [ \dfrac{(1 + r)^n-1}{r} \right ]](https://tex.z-dn.net/?f=A_n%20%3D%20P%28%201%20%2B%20r%29%5En%20-%20M%20%5Ctimes%20%5Cleft%20%5B%20%5Cdfrac%7B%281%20%2B%20r%29%5En-1%7D%7Br%7D%20%5Cright%20%5D)
Where;
M = The monthly payment
P = The initial loan balance = $34,006.00
r = The annual interest rate = 9.1%
n = The number of monthly payment = 7 × 12 = 84
Aₙ = The amount remaining= 0 at the end of the given time for payment
Substituting the values into the above formula, , we get;
![0 = 34006 \times \left ( 1 + \dfrac{0.091}{12} \right )^{84} - M \times \left [ \dfrac{\left (1 + \dfrac{0.091}{12} \right )^{84}-1}{\dfrac{0.091}{12} } \right ]](https://tex.z-dn.net/?f=0%20%3D%2034006%20%5Ctimes%20%5Cleft%20%28%201%20%2B%20%5Cdfrac%7B0.091%7D%7B12%7D%20%5Cright%20%29%5E%7B84%7D%20-%20M%20%5Ctimes%20%5Cleft%20%5B%20%5Cdfrac%7B%5Cleft%20%281%20%2B%20%5Cdfrac%7B0.091%7D%7B12%7D%20%5Cright%20%29%5E%7B84%7D-1%7D%7B%5Cdfrac%7B0.091%7D%7B12%7D%20%7D%20%5Cright%20%5D)
![M = \dfrac{34006 \times \left ( 1 + \dfrac{0.091}{12} \right )^{84} }{\left [ \dfrac{\left (1 + \dfrac{0.091}{12} \right )^{84}-1}{\dfrac{0.091}{12} } \right ]} \approx 548.85](https://tex.z-dn.net/?f=M%20%3D%20%5Cdfrac%7B34006%20%5Ctimes%20%5Cleft%20%28%201%20%2B%20%5Cdfrac%7B0.091%7D%7B12%7D%20%5Cright%20%29%5E%7B84%7D%20%20%7D%7B%5Cleft%20%5B%20%5Cdfrac%7B%5Cleft%20%281%20%2B%20%5Cdfrac%7B0.091%7D%7B12%7D%20%5Cright%20%29%5E%7B84%7D-1%7D%7B%5Cdfrac%7B0.091%7D%7B12%7D%20%7D%20%5Cright%20%5D%7D%20%5Capprox%20548.85)
Therefore, the approximate monthly payment = $548.85
Answer:
The price of a drink = $4
The price of a bag of popcorn = $5.5
Step-by-step explanation:
Let p represent popcorn and d represent drink
<u>Harper bought 10 bags of popcorn and 6 drinks and paid $79 ➡ 10p + 6d = $79</u>
<em>Damian bought 3 bags of popcorn and 5 drinks and paid $36.50 ➡ 3p + 5d = $36.50</em>
Now multiply first equation by -3 and second equation by 10
-3 × (10p + 6d) = $79 ➡ -30p - 18d = -$237
10 × (3p + 5d) = $36.50 ➡ 30p + 50d = $365
Now add the new equationd
30p + 50d -30p - 18d = $365 - $237 (-30p will eliminate 30p)
32d = $128 divide both sides of the equation by 32
32 ÷ 32d = 32 ÷ $128 ➡ d = 4
If d = 4 that means a drink costs $4 we can use this information to find the price of a bag of popcorn
3p + 5d = $36.50 (replace d with 4)
3p + 4×5 = $36.50
3p + 20 = $36.50
3p = $36.50 - 20
3p = 16.50 divide both sides by 3
p = $5.5
The shape of the graph is similar to the letter W; however, the region of interest will lie on the right of the origin, which means only the right half of the W(a negative number of cans cannot be produced). The profit produced will be maximized if the number of cans produced is greater than 3. The company will be at a loss if the number of cans produced is near 2.5. The break even situations are present if the company produces 2 or 3 cans.
Answer:
The center/ mean will almost be equal, and the variability of simulation B will be higher than the variability of simulation A.
Step-by-step explanation:
Solution
Normally, a distribution sample is mostly affected by sample size.
As a rule, sampling error decreases by half by increasing the sample size four times.
In this case, B sample is 2 times higher the A sample size.
Now, the Mean sampling error is affected and is not higher for A.
But it's sample is huge for this, Thus, they are almost equal
Variability of simulation decreases with increase in number of trials. A has less variability.
With increase number of trials, variability of simulation decreases, so A has less variability.
