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Anna71 [15]
2 years ago
10

What is the future value (total amount due) on a $12,000 loan at 8% compounded

Mathematics
1 answer:
svp [43]2 years ago
3 0

Answer: $20,780.10

Step-by-step explanation:

You need the Compound Interest Formula

A = P(1 + r/n)^nt

Step 1: Create the equation.

12,000(1 + 0.08/2)¹⁴

Step 2: Solve the equation.

Follow PEMDAS (parenthesis, exponents, multiplication...)

Parenthesis: (1 + 0.08/2) = (1 + 0.04) = (1.04)

Exponents: (1.04)¹⁴ = (1.73168)

Multiplication: 12,000(1.73168) = 20,780.1

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Answer:

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8 0
2 years ago
The scores of high school seniors on the act college entrance examination in a recent year had mean μ = 20.8 and standard devia
natka813 [3]

To solve this problem, we make use of the z statistic. The formula for z score is:

z = (x – μ) / s

where,

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s = the standard deviation = 4.8

 

Solving for the z score:

z = (21 – 20.8) / 4.8

z = 0.0417

 

Next step to do is to find for the p value using the standard distribution tables at z = 0.04. Since we are looking for the probability of getting 21 or higher, therefore this is a right tailed test, hence

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4 0
2 years ago
Circumfrance of a circle, (Show working)
Ronch [10]

Answer:

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3 0
2 years ago
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Select the graph and the description of the end behavior of f(x) = x3 + 2.
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F(x)=x^3+2
we see the power is odd
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8 0
2 years ago
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KonstantinChe [14]
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8 0
3 years ago
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