The answer to the question
Mr.garrison wants to build a house on this lot . What is the area of the lot?
2 answers:
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Answer:
Answer:
Step-by-step explanation:
Given data:
SS={0,1,2,3,4}
Let probability of moving to the right be = P
Then probability of moving to the left is =1-P
The transition probability matrix is:
Calculating the limiting probabilities:
π0=π0+Pπ1 eq(1)
π1=(1-P)π0+π1+Pπ2 eq(2)
π2=(1-P)π1+π2+Pπ3 eq(3)
π3=(1-P)π2+π3+Pπ4 eq(4)
π4=(1-P)π3+π4 eq(5)
π0+π1+π2+π3+π4=1
π0-π0-Pπ1=0
→π1 = 0
substituting value of π1 in eq(2)
(1-P)π0+Pπ2=0
from
π2=(1-P)π1+π2+Pπ3
we get
(1-P)π1+Pπ3 = 0
from
π3=(1-P)π2+π3+Pπ4
we get
(1-P)π2+Pπ4 =0
from π4=(1-P)π3+π4
→π3=0
substituting values of π1 and π3 in eq(3)
→π2=0
Now
π0+π1+π2+π3+π4=0
π0+π4=1
π0=0.5
π4=0.5
So limiting probabilities are {0.5,0,0,0,0.5}
Using simple interest, and considering a loan of $5,000, it is found that:
a) Her monthly payment is of $74.17.
b) She will pay back $8,900.
c) The total interest amount is of $3,900.
The amount of money after <u>t years</u> in <em>simple interest</em> is modeled by:
In which:
- A(0) is the initial amount.
- r is the interest rate, as a decimal.
In this problem:
- The loan is of $5,000, hence
.
- The APR is of 7.8%, hence
- 10 years, hence
Item b:
She will pay back $8,900.
Item a:
$8,900 will be paid in 10 x 12 = 120 months, hence:
Her monthly payment is of $74.17.
Item c:
<u>Loan of $5,000, pays back $8,900</u>, hence:
8900 - 5000 = 3,900
The total interest amount is of $3,900.
A similar problem is given at brainly.com/question/13176347