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N76 [4]
4 years ago
11

Henry takes out a $650 discounted loan with a simple interest rate of 12% for a period of 7 months. How much money does Henry re

ceive into his bank account when the loan is drawn down? Give your answer to the nearest cent.
Mathematics
1 answer:
murzikaleks [220]4 years ago
6 0

Answer:

$546

Step-by-step explanation:

Given

Amount, P = $650

Rate, R = 12%

Period, T = 7 months

Required

Determine the amount paid.

We'll solve this using simple interest formula, as thus

I = \frac{PRT}{100}

Substitute values for T, R and P

I = \frac{\$650 * 12 * 7}{100}

I = \frac{\$54600}{100}

I = \$546

<em>Hence, Henry's withdrawal is $546</em>

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Suppose that three computer boards in a production run of forty are defective. A sample of five is to be selected to be checked
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Answer:

(a) 658,008 different samples can be chosen.

(b) 222,111 samples will contain at least one defective board.

(c) The probability that a randomly chosen sample of five contains at least one defective board is 0.34.

Step-by-step explanation:

We are given that three computer boards in a production run of forty are defective. A sample of five is to be selected to be checked for defects.

(a) To find how many different samples can be chosen, we will use a combination formula here because the order of selecting a sample of 5 from the production run of 40 doesn't matter.

Here, n = total sample = 40 and r = selected sample = 5

So, the combination formula is; ^{n}C_r= \frac{n!}{r! \times (n-r)!}

             ^{40}C_5= \frac{40!}{5! \times (40-5)!}

              ^{40}C_5= \frac{40!}{5! \times 35!}

              ^{40}C_5 = 658,008 ways

So, 658,008 different samples can be chosen.

(b) To find how many samples will contain at least one defective board, we will first find how many samples will contain no or 0 defective board.

For this also, we will use a combination where n = 40 - 3 = 37 non-defective computer board and a sample of r = 5 computer boards.

So,          ^{n}C_r= \frac{n!}{r! \times (n-r)!}

             ^{37}C_5= \frac{37!}{5! \times (37-5)!}

              ^{37}C_5= \frac{37!}{5! \times 32!}

              ^{37}C_5 = 435,897 ways

This means that 435,897 of the 658,008 samples will contain no defective board.

Now, the samples that will contain at least one defective board = Total samples - Samples that contain no defective board

           = 658,008- 435, 897

           = 222,111

(c) The probability that a randomly chosen sample of five contains at least one defective board is given by;

      Required Probability =  \frac{222,111}{658,008}

                                         =  0.34 or 34%

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