1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
wariber [46]
3 years ago
8

Mr mojo borrowed $9000 for 10 years to make home improvements. If he repaid a total of $20000 at what interest rate did he borro

wnthe money
Mathematics
1 answer:
sesenic [268]3 years ago
5 0

The rate of interest is 12.2 %

<em><u>Solution:</u></em>

Given that, Mr mojo borrowed $9000 for 10 years to make home improvements

He repaid a total of $ 20000

To find: Rate of interest

We can use simple interest formula to calculate the rate of interest

Total amount = Principal + simple interest

20000 = 9000 + simple interest

Simple interest = 20000 - 9000

Simple interest = 11000

<em><u>The simple interest is given as:</u></em>

I = \frac{ p \times r \times t}{100}

Where,

"I" is the simple interest

"p" is the principal

"r" is the rate of interest

"t" is the number of years

Substituting the values,

11000 = \frac{9000 \times r \times 10}{100}\\\\11000 = 900 \times r\\\\r = \frac{11000}{900} = 12.2

Thus rate of interest is 12.2 %

You might be interested in
Based on historical data, your manager believes that 37% of the company's orders come from first-time customers. A random sample
fomenos

Answer:

0.6214 = 62.14% probability that the sample proportion is between 0.26 and 0.38

Step-by-step explanation:

To solve this question, we need to understand the normal probability distribution and the central limit theorem.

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean \mu and standard deviation \sigma, the z-score of a measure X is given by:

Z = \frac{X - \mu}{\sigma}

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Central Limit Theorem

The Central Limit Theorem estabilishes that, for a normally distributed random variable X, with mean \mu and standard deviation \sigma, the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean \mu and standard deviation s = \frac{\sigma}{\sqrt{n}}.

For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.

For a proportion p in a sample of size n, the sampling distribution of the sample proportion will be approximately normal with mean \mu = p and standard deviation s = \sqrt{\frac{p(1-p)}{n}}

37% of the company's orders come from first-time customers.

This means that p = 0.37

A random sample of 225 orders will be used to estimate the proportion of first-time-customers.

This means that n = 225

Mean and standard deviation:

\mu = p = 0.37

s = \sqrt{\frac{p(1-p)}{n}} = \sqrt{\frac{0.37*0.63}{225}} = 0.0322

What is the probability that the sample proportion is between 0.26 and 0.38?

This is the pvalue of Z when X = 0.38 subtracted by the pvalue of Z when X = 0.26.

X = 0.38

Z = \frac{X - \mu}{\sigma}

By the Central Limit Theorem

Z = \frac{X - \mu}{s}

Z = \frac{0.38 - 0.37}{0.0322}

Z = 0.31

Z = 0.31 has a pvalue of 0.6217

X = 0.26

Z = \frac{X - \mu}{s}

Z = \frac{0.26 - 0.37}{0.0322}

Z = -3.42

Z = -3.42 has a pvalue of 0.0003

0.6217 - 0.0003 = 0.6214

0.6214 = 62.14% probability that the sample proportion is between 0.26 and 0.38

5 0
2 years ago
Find the x-coordinate of Q' after Q(-2.5) was reflected over the line y = -x + 4.
kenny6666 [7]

Answer:

Q' would be (5, 6)

7 0
3 years ago
One more than the difference between 18 and seven times a number is -9 answer
dusya [7]
-9=18-7x+1
-28=-7x
x=4
6 0
3 years ago
A garbage truck and a dump truck each drive along a straight road between two points. Using the points on a map that the city cr
Dmitriy789 [7]
We first find the lines of the motion of each truck, then calculate its intercept.
Garbage truck:
m = (12 - 4) / (5 - 3)
m = 4
4 - y = 4(3 - x)
4x - y = 8

Dump truck:
m = (33 + 3) / (-4 - 5)
m = -4
33 - y = -4(-4 - x)
4x + y = 17

Adding the two equations to solve them, we get:
8x = 25
x = 25 / 8

y = 17 - 4(25/8)
y = 17 - 25/2
y = 9/2

The trucks' point of intersection is (25/8,9/2)
7 0
3 years ago
35+X+76=180, What does X=? *<br> Your answer
____ [38]

Answer:

x = 69

Step-by-step explanation:

Given

35 + x + 76 = 180, that is

x + 111 = 180 ( subtract 111 from both sides )

x = 69

6 0
3 years ago
Other questions:
  • Solve for x: 2x+1= -3x+36
    8·2 answers
  • What is the rational number equivalent to 3 point 24 with a bar over 24? (1 point) 3 and 6 over 97 3 and 28 over 99 3 and 8 over
    13·2 answers
  • Show that triangle MPT =Triangle MTP​
    6·1 answer
  • Image should be below
    7·1 answer
  • 1: Find the total cost of 25 pens and 75 books
    7·1 answer
  • Find the measure of each angle indicated round to nearest tenth
    15·1 answer
  • Ms. McGuirk wants to know if she built her son's new sandbox with a perfect right angle or not? The shorter sides are 15 feet an
    12·1 answer
  • Evaluate <br><br> |15 - 23 | =
    8·1 answer
  • (-3+7i)(1-2i) can you help me with the answer to this
    12·1 answer
  • 2. Malcolm and his bandmate have different ideas for figuring out the equation. Which one do you think will make it easiest to s
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!