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3 years ago

Using the Avalanche Method and the following debt, how much of the monthly $700 should be paid to Creditor #3?

1 answer:

3 0

Creditor 3 should receive only the minimum payment of $25. In the avalanche method, the debtor pays only the minimum payments, then pays the rest of their money to the creditor with the highest interest rate. Creditor 2 has the highest interest rate.

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Rationalise the denominator.<br>1/√5+√2

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Answer:

Exact Form:

√5 + 5√2

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Decimal Form:

1.86142715

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Step-by-step explanation:

N/A

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2 years ago

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3 years ago

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2 years ago

You choose a marble at random from a bag containing 8 brown marbles 6 yellow marbles and one purple marble. You replace the marb

Andrej [43]

Pick 1: 6 yellow out of 15 total marbles = 6/15 = 2/5
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2 years ago

Based on past experience, a bank believes that 8.9 % of the people who receive loans will not make payments on time. The bank ha

love history [14]

Answer:

To be able to approximate the sampling distribution with a normal model, it is needed that $np \geq 10$ and $n(1-p) \geq 10$ , and both conditions are satisfied in this problem.

Step-by-step explanation:

For each person, there are only two possible outcomes. Either they will make payments on time, or they won't. The probability of a person making the payment on time is independent of any other person, which means that the binomial probability distribution is used to solve this question.

Binomial probability distribution

Probability of exactly x successes on n repeated trials, with p probability.

The sampling distribution can be approximated to a normal model if:

$np \geq 10$ and $n(1-p) \geq 10$

Based on past experience, a bank believes that 8.9 % of the people who receive loans will not make payments on time.

This means that $p = 0.089$

The bank has recently approved 220 loans.

This means that $n = 220$

What must be true to be able to approximate the sampling distribution with a normal model?

$np = 220*0.089 = 19.58 \geq 10$

$n(1-p) = 220*0.911 = 200.42 \geq 10$

To be able to approximate the sampling distribution with a normal model, it is needed that $np \geq 10$ and $n(1-p) \geq 10$ , and both conditions are satisfied in this problem.

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2 years ago