Four different sets of objects contain 2,5,6, and 7 objects, respectively. How many unique combinations can be formed by picking
1 answer:
There are 2 choices for the first set, and 5 choices for the second set. Each of the 2 choices from the first set can be combined with each of the 5 choices from the second set. Therefore there are 2 times 5 combinations from the first and second sets. Continuing this reasoning, the total number of unique combinations of one object from each set is:
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Answer:
The difference in the amount of interest she would have to pay for the two loans is $1,400
Step-by-step explanation:
The amount of loan Holly is taking out, P = $10,000
The choices available for the loan are;
1) Loan duration, T₁ = 4-year
Interest rate, R₁ = 4%
2) Loan duration, T₂ = 6-year
Interest rate, R₂ = 5%
For the first choice, we have;
The simple interest, I, given by the formula;
For the second choice, we have;
The simple interest, I, given by the formula;
The difference, D, in the amount of interest she would have to pay for the two loans is therefore;
D = I₂ - I₁ = $3,000 - $1,600 = $1,400
The difference in the amount of interest she would have to pay for the two loans = D = $1,400.