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3 years ago

Math problem ⚠️ ⚠️⚠️⚠️⚠️⚠️⚠️⚠️⚠️

Mathematics

1 answer:

kvasek [131]3 years ago

3 0

Answer:

can you take a clearer photo of the problem?

Step-by-step explanation:

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Joe is considering taking out along with the principal of $15,500 From one of two banks. Bank A charges and interest rate of 6%,

ki77a [65]

Answer:

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

A = P(1+r/n)^nt

Where

A = total cost of the loan at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount taken as loan.

Considering bank A's offer

From the information given,

P = $15500

r = 6% = 6/100 = 0.06

n = 12 because it was compounded 12 times in a year.

t = 8 years

Therefore,

A = 15500(1 + 0.06/12)^12 × 8

A = 15500(1 + 0.005)^96

A = 15500(1.005)^96

A = $25019.2

The interest paid is

25019.2 - 15500 = $9519.2

Considering bank B's offer

From the information given,

P = $15500

r = 6.5% = 6.5/100 = 0.065

n = 12 because it was compounded 12 times in a year.

t = 7 years

Therefore,

A = 15500(1 + 0.065/12)^12 × 7

A = 15500(1 + 0.0054)^84

A = 15500(1.0054)^84

A = $24366

The interest paid is

24366 - 15500 = $8866

The interest that would by paid on bank B's offer is lower than that of bank A and the duration of the loan offer from bank B is shorter than that of bank A.

Therefore,

Bank A gives you more time to pay up the loan and you end up paying more interest

Bank gives you lesser time to pay up the loan and you end up paying lesser interest.

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4 years ago

What exactly is 30% of 40

Setler [38]

12 . 10% = 4 -> 4*3= 12

7 0

3 years ago

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The opposite of twelve percent of a number

Salsk061 [2.6K]

Step -by-step explanation: the opposite of a number is the number on the other side of the numbers line eg -5 is the opposite of 5 so-12% is the opposite of 12%

Answer:-12%

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4 years ago

Use the graph below to determine the equation of the circle in a center radius form and a general form

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Mml omggggg … not fun times

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3 years ago

Type the correct answer in each box. Use numerals instead of words. If necessary, use / for the fraction bar. Chris is playing a

alisha [4.7K]

Let's call the aces $h, d, c, s$ for hearts, diamonds, clubs and spades. So, $h, d$ are red and [ted] c, s[/tex] are black.

Since the first card is replaced, the two picks are identical. This means that the sample space is given by all the possible couple

$(x,y)\, x, y \in \{h,d,c,s\}$

There are 16 such couples (we have four choices for the first card, and the same four choices for the second card). Now let's compute the odds in our favour to deduce the probability of winning:

If we want a player to draw two card of the same colour, the following couples are good:

$(h,h),\ (h,d),\ (d,h),\ (d,d),\ (c,c),\ (c,s),\ (s,c),\ (s,s)$

so 8 possible couples over 16. This means that the probability that a player draws two cards of the same color is 8/16 = 1/2.

Similarly, the probability of drawing a red ace first and then a black ace is represented by the following couples:

$(h,c),\ (h,s),\ (d,c),\ (d,s)$

which are 4 over the same 16 as above, thus leading to a probability of 4/16 = 1/4.

4 0

4 years ago

Read 2 more answers