10,792,400 in word form would be ten million seven hundred ninety-two thousand four hundred. hope this helps! ♥
Answer:
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Step-by-step explanation:
Step-by-step explanation:
There is 10 questions which in this case are the trials.
We know we can either get a question right or wrong so the two outcomes are right or wrong.
The probability that a student choose the right outcome is 1/4. since there is one right answer out of 4 chocies.choices.
Yes, the trials likelihood outcome of each outcome is the same. so it's independent
The borrower owes $14,760.82 at the end of 8 years
What is compounding interest?
Compounding interest means that earlier interest would earn more interest in the future alongside the loan principal.
Note that in this case the loan continues to accumulate interest because there no repayments, in other words, the loan balance after 8 years, which comprises of the principal and interest for 8 years can be computed using the future value formula of a single cash flow(the single cash flow is the principal) as shown thus:
FV=PV*(1+r/n)^(n*t)
FV=loan balance after 8 years=unknown
PV=loan amount=$5,000
r=annual interest=14%
n=number of times in a year that interest is compounded=2(twice a year)
t=loan period=8 years
FV=$5000*(1+14%/2)^(2*8)
FV=$5000*(1.07)^16
FV=$5000*2.95216374856541
FV=loan balance after 8 years=$14,760.82
Find out more about semiannual compounding on:brainly.com/question/7219541.
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