Answer:
Step-by-step explanation:
10^2+3^2=109 and sqrt 109 getting 10.4
Since the problem is requiring us to use the loan repayment calculator and here is what the calculator gave:
Loan Balance: $25,506.00
Adjusted Loan Balance: $25,506.00
Loan Interest Rate: 6.80%
Loan Fees: 0.00%
Loan Term: 10 years
Minimum Payment: $0.00
Monthly Loan Payment: $293.52
Number of Payments: 120 months
Cumulative Payments: $35,223.07
Total Interest Paid: $9,717.07
It is projected that you will need an annual salary of a minimum $35,222.40 to be capable to have enough money to repay this loan. This approximation assumes that 10% of your gross monthly income will be keen to repaying your student loans. This resembles to a debt-to-income ratio of 0.7. If you use 15% of your gross monthly income to repay the loan, you will need an annual salary of only $23,481.60, but you may experience some financial difficulty. This corresponds to a debt-to-income ratio of 1.1.
Answer:
Step-by-step explanation:
Since the life of the brand of light bulbs is normally distributed, we would apply the the formula for normal distribution which is expressed as
z = (x - u)/s
Where
x = life of the brand of lightbulbs
u = mean life
s = standard deviation
From the information given,
u = 1300 hrs
s = 50 hrs
We want to find the probability that a light bulb of that brand lasts between 1225 hr and 1365 hr. It is expressed as
P(1225 ≤ x ≤ 1365)
For x = 1225,
z = (1225 - 1300)/50 = - 1.5
Looking at the normal distribution table, the probability corresponding to the z score is
0.06681
For x = 1365,
z = (1365 - 1300)/50 = 1.3
Looking at the normal distribution table, the probability corresponding to the z score is
0.9032
Therefore
P(1225 ≤ x ≤ 1365) = 0.9032 - 0.06681 = 0.8364
Given:
Principal = 1,000
rate = 5%
term = 10 years
The continuous compound formula is: A = Pe^rt
e is a function in the calculator. However, if you are doing manual computation the value of e is 2.7183 (Napier's number)
A = 1,000 (2.7183)^0.05*10
A = 1,000 (2.7183)^0.5
A = 1,000 (1.6487)
A = 1,648.70
The money you will have in your account in 10 years will amount to 1,648.70.
