Can you slove this whole question for me please

Montoya Construction needs to borrow $375,000 to build a road to install utilities in a small subdivision. It borrows the funds

MissTica

Step 1

Given;

$\begin{gathered} \text{Principal(p)= \$375000} \\ \text{First rate = 8\%=}\frac{8}{100}=0.08 \\ \text{Second rate = 20\%= }\frac{20}{100}=0.2 \\ \text{Time}=\frac{90}{365}=\frac{18}{73} \end{gathered}$

Required; To find the difference in interest between the two periods.

Step 2

State the formula for simple interest

$A=P(1+rt)$

Step 3

Find the interest when the rate is 8%

$\begin{gathered} A=375000(1+(0.08\times\frac{18}{73}) \\ A=375000(1+\frac{36}{1825}) \\ A=\text{\$}382397.26 \end{gathered}$

Therefore the interest is given as;

$A-P=382397.26-375000=\text{\$}7397.26$

Step 4

Find the interest in 1980 with a 20% rate

$\begin{gathered} A=375000(1+(0.2\times\frac{18}{73}) \\ A=\text{\$}393493.15 \end{gathered}$

The interest is given as;

$A-p=393493.15-375000=\text{\$}18493.15\text{ }$

Step 5

Find the difference in interest between the two rates.

$\text{\$}18493.15-\text{\$}7397.26=\text{\$}11095.89$

Hence, the difference in interest between the two rates = $11095.89

4 0

1 year ago

The local grocery store has sorted apples by size. The distribution is approximately normal. The large apples have a mean diamet

NikAS [45]

Answer:

0

Step-by-step explanation:

Approximately 0.2% of the apples will be more than three standard deviations above the mean size. In a bin of 100 apples, 0.2% of 100=0.2% apples, this rounds down to zero apples that size or larger. (In a bin of 500 apples, there could be one apple of that size.)

3 0

3 years ago

What is the simplified form of left parenthesis 27 x to the power of negative six end power y to the power of 12 end power right

Tanzania [10]

Hello,
Please, see the attached file,
Thanks.

5 0

3 years ago

An automobile manufacturer has given its van a 59.5 miles/gallon (MPG) rating. An independent testing firm has been contracted t

LekaFEV [45]

Answer:

The pvalue of the test is 0.0124 < 0.1, which means that there is sufficient evidence at the 0.1 level to support the testing firm's claim.

Step-by-step explanation:

An automobile manufacturer has given its van a 59.5 miles/gallon (MPG) rating. An independent testing firm has been contracted to test the actual MPG for this van since it is believed that the van has an incorrect manufacturer's MPG rating:

At the null hypothesis, we test if the mean is the same, that is:

$H_0: \mu = 59.5$

At the alternate hypothesis, we test that it is different, that is:

$H_a: \mu \neq 59.5$

The test statistic is:

$z = \frac{X - \mu}{\frac{\sigma}{\sqrt{n}}}$

In which X is the sample mean, $\mu$ is the value tested at the null hypothesis, $\sigma$ is the standard deviation and n is the size of the sample.

59.5 is tested at the null hypothesis:

This means that $\mu = 59.5$

After testing 250 vans, they found a mean MPG of 59.2. Assume the population standard deviation is known to be 1.9.

This means that $n = 250, X = 59.2, \sigma = 1.9$

Value of the test statistic:

$z = \frac{X - \mu}{\frac{\sigma}{\sqrt{n}}}$

$z = \frac{59.2 - 59.5}{\frac{1.9}{\sqrt{250}}}$

$z = -2.5$

Pvalue of the test and decision:

The pvalue of the test is the probability of finding a mean that differs from 59.5 by at least 0.3, which is P(|Z|>-2.5), which is 2 multiplied by the pvalue of Z = -2.5.

Looking at the z-table, Z = -2.5 has a pvalue of 0.0062

2*0.0062 = 0.0124

The pvalue of the test is 0.0124 < 0.1, which means that there is sufficient evidence at the 0.1 level to support the testing firm's claim.

5 0

3 years ago

A dozen box of bagels costs $4.98. Because of inflation the price increases by 4% a year.

Olenka [21]

A=p (1+r)^t
A future value
P present value 4.98
R rate 0.04
T time

After 3 years
A=4.98×(1+0.04)^(3)
A=5.60

7.50=4.98 (1.04)^t
Solve for t
T=log(7.50÷4.98)÷log(1.04)
T=10 years

Hope it helps:-)

3 0

3 years ago