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Romashka-Z-Leto [24]
3 years ago
6

Avram borrows $14,500 at 5.4% simple interest to open a small business. His bank allows him 9 years to pay back the loan. How mu

ch simple interest will Avram have to pay on the loan?
Mathematics
1 answer:
Elis [28]3 years ago
6 0

Answer:

<em>Avram will have to pay $7,047 simple interest</em>

Step-by-step explanation:

<u>Simple Interest</u>

Definition: Interest calculated on the original principal only of a loan or on the balance of an account.

Unlike compound interest where the interest earned in the compounding periods is added to the new principal, simple interest only considers the principal to calculate the interest.

The interest earned is calculated as follows:

I=A.r.t

Where:

I = Interest

P = initial principal balance

r = interest rate

t = time

Avram has a principal of P=$14,500 at a simple rate of r=5.4%=0.054 for t=9 years, thus:

I=14,500*0.054*9=7,047

I=$7,047

Avram will have to pay $7,047 simple interest

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Answer:

25

Step-by-step explanation:

You need to find half of 50, the number of games that Phil played in. You can do this by dividing 50 by 2, which is equal to 25. Therefore, Steven played in 25 of those games.

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Answer:

Step-by-step explanation:

The total number of permutations of boys and girls on the team are:

¹⁶P₅*¹³P₄

1.

Bob will be one of the fixed boys to be picked. Hence, actually 4 boys are to be picked from 15. The permutations of girls being picked remains the same.

Probability = Permutations with Bob as one of the boys / Total permutations

Probability = (¹⁵P₄*¹³P₄) / (¹⁶P₅*¹³P₄) = ¹⁵P₄ / ¹⁶P₅

Probability = \frac{15!}{(15-4)!}/\frac{16!}{(16-5)!} = 15! / 16! = 1/16

2.

Now, Bob is one of the fixed boys and Jane is one of the fixed girls. Hence, actually 4 boys are to be picked from 15 and 3 girls are to be picked from 12.

Probability = Permutations with bob as one of the boys and jane as one of the girls / Total permutations

Probability = (¹⁵P₄*¹²P₃) / (¹⁶P₅*¹³P₄) = (1/16)*(1/13) = 1/208

3.

Now, the probability that at least Jane or Bob will be picked has been asked. This probability is a combination of three probabilities:

Probability = (Probability that only Bob will be picked) + (Probability that only Jane will be picked) + (Probability that both will be picked)

Probability = 1/16 + 1/13 + 1/208 = 0.123

4.

Total teams possible = ¹⁶P₅*¹³P₄ = 8994585600 teams are possible

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