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3 years ago

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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.

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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2 years ago

Find the value of b. B² = 256

Jlenok [28]

$B^2=256$

$\mathrm{For\:}x^2=f\left(a\right)\mathrm{\:the\:solutions\:are\:}x=\sqrt{f\left(a\right)},\:\:-\sqrt{f\left(a\right)}$

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<h3><em>Hope I helped you!</em></h3><h3><em>Success!</em></h3>

<em>by a random romanian guy</em>

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2 years ago

A 7-foot ladder is leaned against a building in such a way that the bottom of the ladder is 4 feet from the base of the wall. Fi

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3 years ago

Read 2 more answers

Use the estimate in the text based on the Prime Number Theorem to give approximate values of the following. (a) The number of pr

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Answer:

a)148.47

b)148.34

Step-by-step explanation:

Let π(x) be the prime-counting function that gives the number of primes less than or equal to x, for any real number x. For example, π(7) = 4 because there are four prime numbers (2, 3, 5, 7) less than or equal to 7.

We can see that π(7)=π(10) because there are four prime numbers (2,3,5,7) less than or equal to 10.

A good aproximation for π(x) is x / log x, where log x is the natural logarithm of x.

a)The number of primes between 1 and 1030.

1030/log(1030)=148.47

b) The number of primes between 1 and 1029.

1029/log(1029)=148.34

Extra: π(1029)=π(1030) because 1030 is not a prime.

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3 years ago

iVinArrow [24]

Given:

The data set is

10, 10, 11, 12, 13, 13, 13, 14, 14, 15, 15, 15, 16, 17, 17, 17, 35

To find:

Effect on mean, median, range after removing the outlier, 35.

Solution:

We have, the data set

10, 10, 11, 12, 13, 13, 13, 14, 14, 15, 15, 15, 16, 17, 17, 17, 35

$\text{Mean}=\dfrac{\text{Sum of observations}}{\text{Number of observations}}$

$\text{Mean}=\dfrac{10+10+11+12+13+13+13+14+14+15+15+15+16+17+17+17+35}{17}$

$\text{Mean}=\dfrac{257}{17}$

$\text{Mean}=15.117647$

$\text{Mean}\approx 15.12$

Mean of the data set is 15.12.

$Median=\dfrac{n+1}{2}\text{th term}$ because n=17, which is odd.

$Median=\dfrac{17+1}{2}\text{th term}$

$Median=\dfrac{18}{2}\text{th term}$

$Median=9\text{th term}$

$Median=14$

Median is 14.

$Range=Maximum-Minimum$

$Range=35-10$

$Range=25$

Range is 25.

After removing the outlier, 35, the data set is

10, 10, 11, 12, 13, 13, 13, 14, 14, 15, 15, 15, 16, 17, 17, 17

$\text{Mean}=\dfrac{10+10+11+12+13+13+13+14+14+15+15+15+16+17+17+17}{16}$

$\text{Mean}=\dfrac{222}{16}$

$\text{Mean}=13.875$

Mean of the new data set is 13.875, which is less than 15.12.

$Median=\dfrac{\dfrac{n}{2}\text{th term}+(\dfrac{n}{2}+1)\text{th term}}{2}$ because n=16, which is even.

$Median=\dfrac{\dfrac{16}{2}\text{th term}+(\dfrac{16}{2}+1)\text{th term}}{2}$

$Median=\dfrac{8\text{th term}+9\text{th term}}{2}$

$Median=\dfrac{14+14}{2}$

$Median=\dfrac{28}{2}$

$Median=14$

New median is 14, which is same as original median.

$Range=17-10$

$Range=7$

So, the new range is 7 which is less than 25.

Therefore, the mean of the data set will decrease, the median of the data set will not change, the Range of the data set will decrease.

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2 years ago

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