A box has 1 red marble, 3 blue marbles, and 4 green marbles. Maya draws a blue marble randomly from the box, replaces it, and th
1 answer:
Answer:
Step-by-step explanation:
Sampling with replacement means that we choose a marble, note its colour, put it back and shake the box, then choose a marble again.
There are marbles in total. The probability that the first chosen marble is blue is
then Maya replaces this marble and the probability of choosing the second blue marble is the same. Using the product rule, the probability of drawing 2 blue marbles in a row is
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Answer:
a. The amount Taylor will need to finance is $8,000
b. The amount Taylor pays as interest in one year is $400
Step-by-step explanation:
The given parameters of the financing for the car are;
The cost of the car Taylor plans to purchase, C = $10,000
The amount Taylor has saved to be used as down payment, S = $2,000
The interest rate of the credit Taylor is offered = 5%
The duration given for repayment of the loan = 5 years
a. To purchase the car, the amount Taylor will need to finance, 'P', is given as follows;
P = C - S
∴ P = $10,000 - $2,000 = $8,000
b. The amount of interest on the loan in one year, 'I', is given by the following formula;
Where;
I = The interest payed
P = The principal amount taken as loan = $8,000
R = The interest rate = 5% APR
T = The time period the interest is applied = 1 year
Plugging in the values, we get;
The interest Taylor will pay on the loan in one year, I = $4,00