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babunello [35]
3 years ago
7

rosalinda got a payday loan for 2000 due in 2 weeks and she paid a 150 fee. what is the apr on rosalindas loan

Mathematics
1 answer:
Ganezh [65]3 years ago
4 0
Kind of a trick question because if all she pays is $2,150 which is the $2,000 plus the $150 fee then technically an APR didn't apply. By hiding the APR in a fee they get unsuspecting customer's to sign up for these. From an APR perspective based on one Bi-weekly payment, it would take an APR of 555.5715% to generate a $150.00 in interest in 2 weeks.
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A box contains 11 red chips and 4 blue chips. We perform the following two-step experiment: (1) First, a chip is selected at ran
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Answer:

P(B1) = (11/15)

P(B2) = (4/15)

P(A) = (11/15)

P(B1|A) = (5/7)

P(B2|A) = (2/7)

Step-by-step explanation:

There are 11 red chips and 4 blue chips in a box. Two chips are selected one after the other at random and without replacement from the box.

B1 is the event that the chip removed from the box at the first step of the experiment is red.

B2 is the event that the chip removed from the box at the first step of the experiment is blue. A is the event that the chip selected from the box at the second step of the experiment is red.

Note that the probability of an event is the number of elements in that event divided by the Total number of elements in the sample space.

P(E) = n(E) ÷ n(S)

P(B1) = probability that the first chip selected is a red chip = (11/15)

P(B2) = probability that the first chip selected is a blue chip = (4/15)

P(A) = probability that the second chip selected is a red chip

P(A) = P(B1 n A) + P(B2 n A) (Since events B1 and B2 are mutually exclusive)

P(B1 n A) = (11/15) × (10/14) = (11/21)

P(B2 n A) = (4/15) × (11/14) = (22/105)

P(A) = (11/21) + (22/105) = (77/105) = (11/15)

P(B1|A) = probability that the first chip selected is a red chip given that the second chip selected is a red chip

The conditional probability, P(X|Y) is given mathematically as

P(X|Y) = P(X n Y) ÷ P(Y)

So, P(B1|A) = P(B1 n A) ÷ P(A)

P(B1 n A) = (11/15) × (10/14) = (11/21)

P(A) = (11/15)

P(B1|A) = (11/21) ÷ (11/15) = (15/21) = (5/7)

P(B2|A) = probability that the first chip selected is a blue chip given that the second chip selected is a red chip

P(B2|A) = P(B2 n A) ÷ P(A)

P(B2 n A) = (4/15) × (11/14) = (22/105)

P(A) = (11/15)

P(B2|A) = (22/105) ÷ (11/15) = (2/7)

Hope this Helps!!!

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