Samuel took out a personal loan of $13,000 at 7% simple interest. a. How much interest will he pay after 4 years? Show your work
1 answer:
You might be interested in
Answer:
Binomial
There is a 34.87% probability that you will encounter neither of the defective copies among the 10 you examine.
Step-by-step explanation:
For each copy of the document, there are only two possible outcomes. Either it is defective, or it is not. This means that we can solve this problem using the binomial probability distribution.
Binomial probability distribution:
The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.
In which is the number of different combinatios of x objects from a set of n elements, given by the following formula.
And p is the probability of X happening.
In this problem
Of the 20 copies, 2 are defective, so .
What is the probability that you will encounter neither of the defective copies among the 10 you examine?
This is P(X = 0) when .
There is a 34.87% probability that you will encounter neither of the defective copies among the 10 you examine.
Down payment is 20% of the price of the home. Since the couple saved $35,000, and assuming they will pay the whole money as down payment, the highest priced home they can get is a price whose 20% is $35,000.
We can setup an equation in x (being the price of home) to get the price of the most expensive home they can buy.
<em>Which number (x) , multiplied by 20%, is equal to $35,000?</em>
<em></em>
So, the most expensive house they can buy is worth $175,000.
ANSWER: $175,000