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Marta_Voda [28]
3 years ago
15

How long will it take to pay off a loan of ​$51000 at an annual rate of 12 percent compounded monthly if you make monthly paymen

ts of ​$650​? Use five decimal places for the monthly percentage rate in your calculations.
Mathematics
1 answer:
liraira [26]3 years ago
3 0

Answer:

Given,

The present value of the loan, P.V. = $ 51,000,

Annual rate of interest = 12 %,

So, the rate per month, r = \frac{12}{12} = 1 % = 0.01,

Also, the monthly payment, P = $ 650,

Let n be the number of months,

Since, monthly payment of a loan is,

P=\frac{P.V. (r)}{1-(1+r)^{-n}}

650=\frac{51000(0.01)}{1-(1+0.01)^{-n}}}

By graphing calculator,

n=154.299447759\approx 154.29944

Hence, it will take approximately 154 months to pay off the loan.

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B

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The equation k=4w+3 represents the total number of kittens, where w represents <u>the number of weeks that have passed since Samantha started counting.</u>

This means options C and D are false, because they say <u>the total number of kittens that have come into the shelter</u>.

w represents the number of weeks, weeks can be counted 0 weeks, first week, second week and so on, so option B is true (the domain is all whole numbers) because 0, 1, 2, 3, ... are whole numbers.

Number of weeks can't be a negative number. Since "real numbers" include negatives, therefore, we exclude option A.

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Step-by-step explanation:

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A survey of 2,000 doctors showed that an average of 3 out of 5 doctors use brand X aspirin. How many doctors use brand X aspirin
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the pool at the apartment is 30 feet long 20 feet wide and five feet deep it has been filled to 4 feet how many more cubic inche
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If the level of significance of a hypothesis test is raised from 0.005 to 0.2, the probability of a type ii error will:_________
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The probability of type II error will decrease if the level of significance of a hypothesis test is raised from 0.005 to 0.2.

<h3 /><h3>What is a type II error?</h3>

A type II error occurs when a false null hypothesis is not rejected or a true alternative hypothesis is mistakenly rejected.

It is denoted by 'β'. The power of the hypothesis is given by '1 - β'.

<h3>How the type II error is related to the significance level?</h3>

The relation between type II error and the significance level(α):

  • The higher values of significance level make it easier to reject the null hypothesis. So, the probability of type II error decreases.
  • The lower values of significance level make it fail to reject a false null hypothesis. So, the probability of type II error increases.
  • Thus, if the significance level increases, the type II error decreases and vice-versa.

From this, it is known that when the significance level of the given hypothesis test is raised from 0.005 to 0.2, the probability of type II error will decrease.

Learn more about type II error of a hypothesis test here:

brainly.com/question/15221256

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