Jill wants to save to buy a car. She decides to open a banking account that is offering a simple interest rate of 4.5% annually.
1 answer:
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We have 15 ways to chose 2 students for the position of president and Vice President
<em><u>Solution:</u></em>
Given that,
There are 6 students. 2 of them are chosen for the position of president and Vice President.
<em><u>To find: number of ways we have to choose the students from the 6 students</u></em>
So now we have 6 students, out of which we have to choose 2 students
As we just have to select the students. We can use combinations here.
In combinations, to pick "r" items from "n" items, there will be ways
<em><u>Then, here we have to pick 2 out of 6:</u></em>
Total students = n = 6
students to be selected = r = 2
Thus we have 15 ways to chose 2 students for the position of president and Vice President
Answer:
412
Step-by-step explanation:
Substitute 50 for <em>n</em>:
Simplify:
The value should be used for n, the number of periods over which the loan is repaid in 60 periods.
We have to determine
In calculating the monthly payment for a five-year loan, what value should be used for n, the number of periods over which the loan is repaid, as it appears in the following formula?
<h3>What formula is used to calculate the monthly payment?</h3>The value of the monthly payment is given by;
Where,
- PV is the present value or the amount of the loan.
- i is the interest rate per period and is calculated by dividing the yearly percent rate by 100 and by the number of periods in a year.
- n is the total number of periods and is calculated as the product of the number of periods in a year times the number of years.
Therefore,
The value should be used for n, the number of periods over which the loan is repaid;
n = 6 years × 12 months/year = 60 months = 60 periods.
Hence, The value should be used for n, the number of periods over which the loan is repaid in 60 periods.
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