Answer:
D.) 0.9990
Step-by-step explanation:
Given :
Number of questions = 10
True or False questions ; probability of success, p = 1/2 = 0.5
Using binomial distribution :
P(x =x) = nCx * p^x * (1 - p)^(n - x)
Probability of getting atleast one correct answer :
P(x ≥ 1) = p(1) + p(2) +... P(x = 10)
Using a binomial probability calculator :
P(x ≥ 1) = 0.9990
Answer:
The total interest to pay back on the loan is $122.40
Step-by-step explanation:
Here. we want to get the amount of interest on the loan
We are going to use the compound interest formula here
A = P(1 + r/n)^nt
where A is the amount to be paid back
P is the amount borrowed called the principal which is $1,500
r is the interest rate which is 4% annually
This is same as 4/100 = 0.04
n is the number of times the interest will be compounded per year ; annually means yearly and so for this case, n = 1
t is the number of years = 2
So we have;
A = 1500(1 + 0.04/1)^(2)(1)
A = 1500(1.04)^(2)
A =$ 1,622.40
So the amount of interest is the difference between the amount borrowed and the value to pay back
That will be;
$1,622.40 - $1,500
= $122.40
Step-by-step explanation:
Total amount to spend = 8096.35
Amount already spent = 894. 60 + 1009.99 + 658.50 = 2563.09
Amount left to spend = 5533.26
Answer:
1/1.27
Step-by-step explanation:
= $ 32,275.00
Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 4.85%/100 = 0.0485 per year,
putting time into years for simplicity,
24 quarters ÷ 4 quarters/year = 6 years,
then, solving our equation
A = 25000(1 + (0.0485 × 6)) = 32275
A = $ 32,275.00
The total amount accrued, principal plus interest,
from simple interest on a principal of $ 25,000.00
at a rate of 4.85% per year
for 6 years (24 quarters) is $ 32,275.00.
