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Serga [27]
3 years ago
13

5. Jon Metcalf signed a 253-day simple interest note for $7700 with a bank that uses exact interest. If the rate is 10 3/4% find

the maturity value.
Mathematics
1 answer:
morpeh [17]3 years ago
4 0

Answer:

8281.72

Step-by-step explanation:

Given:

Principal, P = 7700

Rate, r = 10 3/4 % = 43/4 % = 0.1075

Time, t = 253 days = 253/ 360

Using the relation :

A = P(1 + rt)

A = maturity value

A = 7700(1 + 0.1075*253/360)

A = 7700(1 + 0.0755486)

A = 7700(1.0755486)

A = 8281.7243

A = 8281.72

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A certain town never has two sunny days in a row. Each day is classified as being either sunny, cloudy (but dry), or rainy. If i
11111nata11111 [884]

Answer:

the proportion of days that are Sunny is 0.2

Step-by-step explanation:

Given the data in the question;

Using markov chain;

3 states; Sunny(1), Cloudy(2) and Rainy(3)

Now, based on given conditions, the transition matrix can be obtained in the following way;

\left[\begin{array}{ccc}0&0.5&0.5\\0.25&0.5&0.25\\0.25&0.25&0.5\end{array}\right]

so let the proportion of sunny, cloudy and rainy days be S, C and R respectively.

such that, from column 1

S = 0.25C + 0.25R   -------------let this be equation 1

from column 2

0.5C = 0.5S + 0.25R

divided through by 0.5

C = S + 0.5R ---------------------- let this be equation 2

now putting equation 2 into equation;

S = 0.25(S + 0.5R) + 0.25R

S = 0.25S + 0.125R + 0.25R

S - 0.25S = 0.375R

0.75S = 0.375R

S = 0.375R / 0.75

S = 0.5R

Therefore,

from equation 2; C = S + 0.5R

input S = 0.5R

C = 0.5R + 0.5R

C = R

Now, we know that, the sum of the three proportion should be equal to one;

so

S + C + R = 1

since C = R and S = 0.5R

we substitute

0.5R + R + R = 1

2.5R = 1

R = 1/2.5

R = 0.4

Hence, the proportion of days that are Rainy is 0.4

C = R

C = 0.4

Hence, the proportion of days that are Cloudy is 0.4

S = 0.5R

S = 0.5(0.4)

S = 0.2

Hence, the proportion of days that are Sunny is 0.2

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