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satela [25.4K]
3 years ago
13

Three financial institutions, A,B,C, are offering different rates on a loan. Is a offer 3.15 % annual compounded monthly, B offe

rs 2.25% compounded quarterly, C offers 2.05% compounded daily. Determine which of the institutions offers best deal. Explain and make a conclusion.
Mathematics
1 answer:
coldgirl [10]3 years ago
8 0

Answer:

Step-by-step explanation:

Given that interest rates are as follows:

Let P be 100 dollars for each.

A) 3.15% compounded monthly.

Hence amount = 100(1+\frac{3.15}{1200} )^{12}

Final amount = 103.20 dollars

B) 2.25% compounded quarterly

Final amt. = 100(1+\frac{2.25}{400} )^4

=102.27

C) 2.05% compounded daily

Amount = 100(1+\frac{2.05}{36500} )^{365}

=102.07

Obviously A is the best deal.

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LenaWriter [7]

Answer:

10.20% probability that a randomly chosen book is more than 20.2 mm thick

Step-by-step explanation:

Problems of normally distributed samples are solved using the z-score formula.

In a set with mean \mu and standard deviation \sigma, the zscore 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 pvalue, we get the probability that the value of the measure is greater than X.

In this problem, we have that:

250 sheets, each sheet has mean 0.08 mm and standard deviation 0.01 mm.

So for the book.

\mu = 250*0.08 = 20, \sigma = \sqrt{250}*0.01 = 0.158

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This is 1 subtracted by the pvalue of Z when X = 20.2. So

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

Z = \frac{20.2 - 20}{0.158}

Z = 1.27

Z = 1.27 has a pvalue of 0.8980

1 - 0.8980 = 0.1020

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Step-by-step explanation:

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