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solong [7]
2 years ago
13

What is the meaning of Interest rate ​

Mathematics
2 answers:
blagie [28]2 years ago
5 0

Answer:

See below

Step-by-step explanation:

An interest rate is basically a percentage of principal charged by the lender for the use of its money, and it is paid via simple interest (usually in an annual period). That principal is the amount of money loaned.

For example, you may have seen a 1.5% annual interest rate, or something like that. This means that if your principal was $5000, let's say, you would have to pay $5000 * 0.015 = $75 in interest per year.

Dafna11 [192]2 years ago
3 0

Answer:

Interest rate is a proportion of a loan rewarded as interest to the borrower, usually expressed as an annual percent of the current loan.

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Help me out with this question..this is a practice question not a graded one
galina1969 [7]

We shall begin by drawing up a table of the data set;

The Probability of selecting someone in the 22 - 29 age bracket is derived as

P[22 - 29] = No of req outcomes/No of possible outcomes

P[22 - 29] = 258/360

P[22 - 29] = 0.7166

The probability of selecting someone who refused to respond is derived as

P[Dont respond] = 42/360

P[Dont respond] = 0.1166

Note however that these are dependent events. That means the outcome of one event directly affects that of the other event. In this experiment, you are required to select one person from the entire sample size. Hence the probability of P[22 - 29] OR P[Dont respond] is derived by adding both probabilities and this results in;

The probability of getting someone who falls within the 22 - 29 age bracket or someone who refuses to repond is described as non mutually exclusive events. Mutually exclusive events are those that cannot possibly occur in one experiment. For example you cannot get a King of Hearts OR an Ace of Hearts in one draw from a standard deck of 52 cards. However when you can get either one or the other in one single experiment, then this is refered to as non mutualy exclusive events. So the probability of drawing from a standard deck of 52 cards, a King OR an Ace is an example of non mutually exclusive events because you can get either one or the other with just a single draw of a card. In this experiment, you need to select just one person and the probability of the person being either within the age of 22 - 29 OR being a non-respondent is a non mutually exclusive event. You can select someone randomly and he'll be within 22 - 29 years of age, and its more than likely that that person did not respond to your survey. Fact is,out of those who were 22 - 29, some responded, and some did not. So they all stand a chance of being selected, regardless of how slim their chances were.

Hence, the results should be

P[22 - 29 or Dont respond] = P[22 - 29] + P[Dont respond] - P[(22 - 29) * (Dont respond)]

P[22 - 29 or Dont respond] = ([0.7166] + [0.1166]) - [0.7166 * 0.1166]

P[22 - 29 or Dont respond] = (0.8332) - 0.08355

P[22 - 29 or dont respond] = 0.74965

The results show that the probability of choosing someone who is within the 22 - 29 age bracket or someone who did not respond is 0.74965 which as a percentage is 74.965% (approximately 75%)

3 0
2 years ago
dele took 25 minutes to walk to school and he arrived at exactly 8:00am, at what time did he leave his home​
Roman55 [17]
I think it would be around 7:30am
4 0
3 years ago
Tell whether the relationship is a proportional relationship. if so, give the constant of proportionality
SVETLANKA909090 [29]
Proportional because it's a straight line if you follow the graph points and it goes by 5
5 0
3 years ago
Kristy ran a mile in 6.58 minutes. She ran her second mile in 7.15 minutes. What was the time difference between her first and s
Veseljchak [2.6K]

Answer:

17 seconds

Step-by-step explanation:

7.15 minus 6.58 is .17 or 17 seconds

6 0
3 years ago
Read 2 more answers
An investing group has $50,000 to invest. They put the money in an account that has an annual interest rate of 6%, compounded mo
natka813 [3]

Answer:

Use the formula for compound interest to determine the amount of money in each ... An investing group has $50,000 to invest. They put the money in an account that compounds interest ... How much money will the group have at the end of 10 years? 20. Interest is compounded quarterly at Money Bank at a rate of 5.5%.

I don't know if this helps

If it doesn't please don't delete it

4 0
4 years ago
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