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GenaCL600 [577]
3 years ago
13

Paul received a 12,000 loan from the bank. The bank charges his 6.99% yearly interest rate. 4 years, how much money does Paul ow

e in interest
Mathematics
2 answers:
Ira Lisetskai [31]3 years ago
8 0

Answer:ggcffdjhfr55757566656677787v  


Step-by-step explanation:


andre [41]3 years ago
5 0
Principal amount = 12,000
Annual interest rate (r) = 6.99% = 0.0699
Time (years) = 4 years
Number of installments (t) = 12*4 = 48 months

Monthly payment, A = P/D

Where,
D= {(1+r/12)^t-1}/{r/12*(1+r/12)^t} = {(1+0.0699/12)^48-1}/{0.0699/12(1+0.0699/12)^48} = 42.47

Therefore, A = 12000/42.47 = 282.59

Total payments after 4 years = 282.59*4*12 = 13,564.17

Interest owed = 13,564.17 - 12,000 = 1,564.17
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I believe the problem ask for the appropriate spinner simulation device to use among the choices. The given choices are:

1. a spinner divided into 5 congruent sectors, spun 3 times

2. a spinner divided into 5 congruent sectors, spun 4 times

3. a spinner divided into 2 congruent sectors, spun 3 times

4. a spinner divided into 2 congruent sectors, spun 4 times

 

The correct spinner to use among the 4 should have a probability of winning of 80%, similar to what the owner has found out. So, we must calculate the probability of each spinner.

 

1. Spun 3 times, and chance of winning is 1 in 5, therefore P = (3) (1/5) = 0.6 = 60%

2. Spun 4 times, and chance of winning is 1 in 5, therefore P = (4) (1/5) = 0.8 = 80%

3. Spun 3 times, and chance of winning is 1 in 2, therefore P = (3) (1/2) = 1.5 = 150%

4. Spun 4 times, and chance of winning is 1 in 2, therefore P = (4) (1/2) = 2 = 200%

 

We can see that there is only 1 choice that has 80% probability, therefore the correct answer is:

 

“a spinner divided into 5 congruent sectors, spun 4 times”

7 0
4 years ago
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Step-by-step explanation:

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Step-by-step explanation:

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4 years ago
What is 25% of 400 5% of 20
stiks02 [169]

Hello there!


What is 25% of 400?

\frac{25*400}{100}

= \frac{10,000}{100}

= 100

Thus,

25% of 400 is 100


What is 5% of 20?

Well, we just need to follow the previous steps.

\frac{5*20}{100}

= \frac{100}{100} = 1

Thus,

5% of 20 is 1


I hope this answer helps. Let me know if you have additional questions about the answer. As always, it is my pleasure helping student like you.


5 0
3 years ago
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