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2 answers:
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Answer:
The amount needed to pay off the loan after 4 years is $70,192
Step-by-step explanation:
When interest is compounded annually, total amount A after t years is given by:
where P is the initial amount (principal), r is the rate and t is time in years.
From the question:
P = $60,000
r = 4% = 0.04
t = 4
The amount needed to pay off the loan after 4 years is $70,192
If we divide the amount by four, we will get the amount that is paid yearly (70192/4 = 17548). $17,548 is paid yearly.
Answer:
Mean = 35
Variance = 291.7
Step-by-step explanation:
Data provided in the question:
X : 1, 2, 3, 4, 5, 6
All the data are independent
Thus,
The mean for this case will be given as:
Mean, E[X] =
or
E[X] =
or
E[X] = 3.5
For 10 days, Mean = 3.5 × 10 = 35
And,
variance = E[X²] - ( E[X] )²
Now, for this case of independent value,
E[X²] =
or
E[X²] =
or
E[X²] =
or
E[X²] = 15.167
Therefore,
variance = E[X²] - ( E[X] )²
or
variance = 15.167 - 3.5²
or
Variance = 2.917
For 10 days = Variance × Days²
= 2.917 × 10²
= 291.7