The total amount Ernest owes the bank after 9 months is $1,225.00
How many months of interest would be paid?
The fact the loan was taken for nine months means that the borrower, Ernest needs to pay interest for nine months, in other words, we would time-apportion the annual interest of 30% to determine the 9-month interest as shown below:
9-month interest rate=30%*9/12
9-month interest rate=22.50%
The amount Ernest is owing the bank is the principal borrowed plus the interest for 9 months as computed below:
total amount owed after 9 months=$1000*(1+22.50%)
total amount owed after 9 months=$1000*1.2250
total amount owed after 9 months=$1,225.00
Find out more about borrowing on:brainly.com/question/28188613
#SPJ1
Answer:
$55
Step-by-step explanation:
its $150 - $40 = $110
$110 / 2 = $55
Answer:
Multiply the w x h x l
Step-by-step explanation:
Answer:
a)
b) ![P(X> 2)=1-P(X\leq 2)=1-[0.0211+0.0995+0.211]=0.668](https://tex.z-dn.net/?f=P%28X%3E%202%29%3D1-P%28X%5Cleq%202%29%3D1-%5B0.0211%2B0.0995%2B0.211%5D%3D0.668)
c)
Step-by-step explanation:
1) Previous concepts
The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".
2) Solution to the problem
Let X the random variable of interest, on this case we now that:
The probability mass function for the Binomial distribution is given as:
Where (nCx) means combinatory and it's given by this formula:
Part a
Part b
![P(X> 2)=1-P(X\leq 2)=1-[P(X=0)+P(X=1)+P(X=2)]](https://tex.z-dn.net/?f=P%28X%3E%202%29%3D1-P%28X%5Cleq%202%29%3D1-%5BP%28X%3D0%29%2BP%28X%3D1%29%2BP%28X%3D2%29%5D)
![P(X> 2)=1-P(X\leq 2)=1-[0.0211+0.0995+0.211]=0.668](https://tex.z-dn.net/?f=P%28X%3E%202%29%3D1-P%28X%5Cleq%202%29%3D1-%5B0.0211%2B0.0995%2B0.211%5D%3D0.668)
Part c