Sarah took out a $30,000 loan for 11 years at a 4.7% interest rate to put a new pool in her backyard. If
1 answer:
The amount of the loan after 11 years is $34,113.53 and the intereest earned is $4,113.53
<h3>How to calculate the compound interest</h3>The formula for calculating the exponential function is expressed as:
Given the following
- P = 30,000
- r = 0.047
- t = 11 years
- n = 4
Substitute into the formula to have:
Hence the amount of the loan after 11 years is $34,113.53
<h3>Find the interest earned</h3>
Interest = A - P
Interest = 34,113.53 - 30000
Interest = 4,113.53
Hence the intereest earned is $4,113.53
Learn more on compound interest here: brainly.com/question/24924853
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Answer:
Option B is right
Step-by-step explanation:
Given that in the graduating class of a certain college, 48 percent of the students are male and 52 percent are female. In this class 40 percent of the male and 20 percent of the female students are 25 years old or older.
Males Females
48% 52%
25 or more
age 40% 20%
One student in the class is randomly selected,
to find the probability that he or she will be less than 25 years old
= Prob (male and less than 25 years old)+Prob (female and less than 25 years old)
(since mutually exclusive and exhaustive)
=
After rounding off to 1 one decimal
we get 0.7
Option B is right