Answer:
D. $2071.20
Step-by-step explanation:
The table tells you that Bob's monthly payment on a 4-year loan at 6.5% will be $23.71 per thousand borrowed. The sum of those 48 payments is ...
48 × $23.71 = $1138.08
That means, Bob pays $138.08 in total finance charge for each $1000 he borrows. He is borrowing 15 times $1000, so his total finance charge will be ...
finance charge = 15 × $138.08 = $2071.20 . . . matches choice D
Answer:
The answer is 1 and 3/4
Step-by-step explanation:
36/48 divide both by 12... = 3/4= 75%
we want to know what percent less it is, so we need to subtract that answer from 100% to get the right answer
100-75 =25
25%
Answer:
- expected value: -$0.21
- loss on 1000 plays: $210.53
Step-by-step explanation:
The expected value is the sum of products of payoff and probability of that payoff:
-$8(37/38) +$288·(1/38) = $(-296 +288)/38 = -$8/38 ≈ -$0.21
In 1000 plays, the expected loss is ...
-$8000/38 ≈ $210.53
Answer:
<u>If mixed numbers are </u>
<u>You can write them as a sum of a whole and fraction and use the distributive property of multiplication:</u>
- a b/c × d e/f =
- (a + b/c) × (d + e/f) =
- ad + a(e/f) + d(b/c) + (b/c)(e/f)
