Please help me with this math anyone I try but I don’t want to do it wrong!

By use of technology, we investigated Mary’s investment and created the model, M(x) = 3.03(1.28)2x, in thousands of dollars. Wha

aleksandr82 [10.1K]

The initial investment was 3.03 because this is the value that does not change and comes before the value with the exponent "2x" is mentioned.

6 0

3 years ago

Read 2 more answers

Jim and Sarah invited seven friends over for dinner. If each friend brought one guest how many people will be at the dinner excl

Vanyuwa [196]

16 people would be at the dinner because Jim and Sarah invited 7 friends and each friend brought 1 guest, so you do 7*2=14 and the 14 + Jim and Sarah=16 people.

7 0

3 years ago

Alice rolls a fair dice and flips a fair coin

NemiM [27]

1,2,3,4,6 are factors of 12

5/6 is the probability of getting a factor of 12

1/2 is the probability of getting a tail

5/6*1/2 = 5 /12

Answer: 5/12

3 0

2 years ago

Read 2 more answers

Imagine that you would like to purchase a $275,000 home. Using 20% as

vfiekz [6]

Answer:

The mortgage chosen is option A;

15-year mortgage term with a 3% interest rate because it has the lowest total amount paid over the loan term of $270,470

Step-by-step explanation:

The details of the home purchase are;

The price of the home = $275,000

The mode of purchase of the home = Mortgage

The percentage of the loan amount payed as down payment = 20%

The amount used as down payment for the loan = $55,000

The principal of the mortgage borrowed, P = The price of the house - The down payment

∴ P = $275,000 - 20/100 × $275,000 = $275,000 - $55,000 = $220,000

The principal of the mortgage, P = $220,000

The formula for the total amount paid which is the cost of the loan is given as follows;

$Outstanding \ Loan \ Balance = \dfrac{P \cdot \left[\left(1+\dfrac{r}{12} \right)^n - \left(1+\dfrac{r}{12} \right)^m \right] }{1 - \left(1+\dfrac{r}{12} \right)^n }$

The formula for monthly payment on a mortgage, 'M', is given as follows;

$M = \dfrac{P \cdot \left(\dfrac{r}{12} \right) \cdot \left(1+\dfrac{r}{12} \right)^n }{\left(1+\dfrac{r}{12} \right)^n - 1}$

A. When the mortgage term, t = 15-years,

The interest rate, r = 3%

The number of months over which the loan is payed, n = 12·t

∴ n = 12 months/year × 15 years = 180 months

n = 180 months

The monthly payment, 'M', is given as follows;

M =

The total amount paid over the loan term = Cost of the mortgage

Therefore, we have;

220,000*0.05/12*((1 + 0.05/12)^360/( (1 + 0.05/12)^(360) - 1)

$M = \dfrac{220,000 \cdot \left(\dfrac{0.03}{12} \right) \cdot \left(1+\dfrac{0.03}{12} \right)^{180} }{\left(1+\dfrac{0.03}{12} \right)^{180} - 1} \approx 1,519.28$

The minimum monthly payment for the loan, M ≈ $1,519.28

The total amount paid over loan term, A = n × M

∴ A ≈ 180 × $1,519.28 = $273,470

The total amount paid over loan term, A ≈ $270,470

B. When t = 20 year and r = 6%, we have;

n = 12 × 20 = 240

$\therefore M = \dfrac{220,000 \cdot \left(\dfrac{0.06}{12} \right) \cdot \left(1+\dfrac{0.06}{12} \right)^{240} }{\left(1+\dfrac{0.06}{12} \right)^{240} - 1} \approx 1,576.15$

The total amount paid over loan term, A = 240 × $1,576.15 ≈ $378.276

The monthly payment, M = $1,576.15

C. When t = 30 year and r = 5%, we have;

n = 12 × 30 = 360

$\therefore M = \dfrac{220,000 \cdot \left(\dfrac{0.05}{12} \right) \cdot \left(1+\dfrac{0.05}{12} \right)^{360} }{\left(1+\dfrac{0.05}{12} \right)^{360} - 1} \approx 1,181.01$

The total amount paid over loan term, A = 360 × $1,181.01 ≈ $425,163

The monthly payment, M ≈ $1,181.01

The mortgage to be chosen is the mortgage with the least total amount paid over the loan term so as to reduce the liability

Therefore;

The mortgage chosen is option A which is a 15-year mortgage term with a 3% interest rate;

The total amount paid over the loan term = $270,470

8 0

2 years ago

Given that events A and B are independent with P(A)=0.3P(A)=0.3 and P(A\cap B)=0.27P(A∩B)=0.27, determine the value of P(B)P(B),

Stolb23 [73]

Answer:

0.9

Step-by-step explanation:

Since A and B are independent hence;

P(A∩B) = P(A)P(B)

Given the following

P(A∩B) = 0.27

P(A) = 0.3

Required

P(B)

Substitute into the formula;

P(B) = P(A∩B)/P(A)

P(B) = 0.27/0.3

P(B) = 0.9

Hence the value of P(B) is 0.9

6 0

2 years ago