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Hitman42 [59]
3 years ago
15

You paid $44 to a loan company for the use of $1,153 for 119 days, what annual rate of interest did they charge? (Assume a 360-d

ay year.) If The annual rate of interest is 11.186 %. (Round to three decimal places.)
Mathematics
1 answer:
Zigmanuir [339]3 years ago
7 0

Answer:

Ans. A) The annual rate that the company charged was 11.996%; B) if they charged you 11.186% annual rate, you would have to pay $41.14

Step-by-step explanation:

Hi, first we have to find out what is the effective 119 days rate and then turn it into an annual rate. This is as follows.

r(Effective119Days)=\frac{44}{1,153} x100=0.038161

So the charged rate was 3.816% effective, 119 days, now let´s make it an annual rate.

r(annual)=(1+0.038161)^{\frac{360}{119} } -1=0.119965

This means that the equivalent rate to 3.816% effective 119 days ys 11.996% effective annually (or just annual).

Now, if they were to charge you 11.186% annual, you would have to make this rate effective 119 days, and then, multiply it by the principal ($1,153). Let´s change the rate first.

r(Effective119Days)=(1+0.11186)^{\frac{119}{360} -1}=0.03568

And the money that you will have to pay in interest is $1,153*0.03568=$41.14

Best of luck

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540 people can ride the wild river in 1 hour if all of the rafts are used and each raft is full

<u>Solution:</u>

Given, There are 15 rafts available for people to use on the adventure river ride.  

Each raft holds 12 people.  

Then, total people capacity over all rafts = 15 x 12 = 180 people.

The park runs this ride 3 times each hour.  

We have to find how many people can ride the wild river in 1 hour if all of the rafts are used and each raft is full?

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= 3 x 180  = 540

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3 years ago
In the standard (x,y) coordinate plane a right triangle has vertices at (-3,4)(3,4)(3,-4) what is the length in coordinates unit
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Given:

The vertices of a right triangle are:

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The length of the hypotenuse of the given right triangle.

Solution:

Let the vertices of the right triangle are A(-3,4),B(3,4),C(3,-4).

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Using distance formula, we get

AB=\sqrt{(3-(-3))^2+(4-4)^2}

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AB=\sqrt{(6)^2+0}

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Similarly,

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And,

AC=\sqrt{(3-(-3))^2+(-4-4)^2}

AC=\sqrt{(6)^2+(-8)^2}

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Now, taking sum of squares of two smaller sides, we get

AB^2+BC^2=6^2+8^2

AB^2+BC^2=36+64

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3 years ago
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Answer:

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Step-by-step explanation:

We are given that Mike runs for the president of the student government and is interested to know whether the proportion of the student body in favor of him is significantly more than 50 percent.

A random sample of 100 students was taken. Fifty-five of them favored Mike.

<em>Let p = </em><u><em>proportion of the students who are in favor of Mike.</em></u>

So, Null Hypothesis, H_0 : p \leq 50%      {means that the proportion of student body in favor of him is significantly less than or equal to 50%}

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The test statistics that would be used here <u>One-sample z proportion</u> <u>statistics</u>;

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where, \hat p = sample proportion of students body in favor of Mike = \frac{55}{100} = 0.55

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So, <em><u>test statistics</u></em>  =   \frac{0.55-0.50}{\sqrt{\frac{0.55(1-0.55)}{100} } }

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<em>Now, at 0.05 significance level the z table gives critical value of 1.645 for right-tailed test.</em>

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Therefore, we conclude that the proportion of student body in favor of him is significantly less than or equal to 50% or proportion of the students in favor of Mike is not significantly greater than 50 percent.

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Answer:

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X = 13,842.18

Therefore, after a year has passed, Peyton's account will be $ 13,842.18.

7 0
3 years ago
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