Answer: The total interest paid on the mortgage is $179550
Step-by-step explanation:
The initial cost of the property is $300000. If he deposits $30000, the remaining amount would be
300000 - 30000 = $270000
Since the remaining amount was compounded, we would apply the formula for determining compound interest which is expressed as
A = P(1+r/n)^nt
Where
A = total amount in the account at the end of t years
r represents the interest rate.
n represents the periodic interval at which it was compounded.
P represents the principal or initial amount deposited
From the information given,
P = 270000
r = 2% = 2/100 = 0.02
n = 12 because it was compounded 12 times in a year.
t = 25 years
Therefore,
A = 270000(1+0.02/12)^12 × 25
A = 270000(1+0.0017)^300
A = 270000(1.0017)^300
A = $449550
The total interest paid on the mortgage is
449550 - 270000 = $179550
From the graph, the coordinates of the cross that represent this car on the graph are ( 8, 2100).
<h3>What is the correlation coefficient?</h3>
The correlation coefficient is a measure of how similar two datasets are acting.
When the correlation coefficient comes out as -1, it means that both the datasets are negatively oppositely correlated.
One data increases and other data starts to decrease in the opposite direction.
When the correlation coefficient comes out below 0, values are negatively correlated.
The correlation shown by the graph is negative.
From the graph, the coordinates of the cross that represent this car on the graph are ( 8, 2100).
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The expression that is equal to (x Superscript one-fourth Baseline y Superscript 16 Baseline) is x Superscript one-eighth Baseline y Superscript 8.
<h3>What is an Expression?</h3>
In mathematics, an expression is defined as a set of numbers, variables, and mathematical operations formed according to rules dependent on the context.
The expression that is equal to (x Superscript one-fourth Baseline y Superscript 16 Baseline) can be found by simplifying the given algebraic equation,
Hence, the expression that is equal to (x Superscript one-fourth Baseline y Superscript 16 Baseline) is x Superscript one-eighth Baseline y Superscript 8.
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Answer:
$5084745.76271
Step-by-step explanation:
Given data
Final amount= $6000000
Rate=6%
Time= 3 years
Now let us find the initial amount which is the principal
using the simple interest formula we have
6000000 = P(1+0.06*3)
6000000 =P(1+0.18)
6000000 =P*1.18
P= 6000000 /1.18
P=$5084745.76271
Hence the initial deposite is $5084745.76271
Answer:
a. n=4148
b. n=3909
c. The sample size is smaller if a known proportion from prior study is used. The difference in sample sizes is 239
Step-by-step explanation:
a. For sample where no preliminary estimate is given, the minimum sample size is calculated using the formula:
Where:
Margin of error
is the assumed proportion
#Let p=0.5, substitute in the formula to solve for n:
Hence, the minimum sample size is 4148
b. If given a preliminary estimate p=0.38, we use the same formula but substitute p with the given value:
Hence, the minimum sample size is 3909
c. Comparing the sample sizes from a and b:
Hence, the actual sample size is smaller for a known proportion from prior a prior study.
