Terry pays £635.71 a year on his car insurance. The insurance company reduces the price by 5.3%. How much does the insurance cost now? Give your answer rounded to 2 DP.

Answers

Answer 1

The insurance costs £602.02 now.

Step-by-step explanation:

Amount paid for car insurance = £635.71

Price reduce = 5.3%

Amount of reduce = 5.3% of amount paid

Amount of reduce = [tex]\frac{5.3}{100}*635.71[/tex]

Amount of reduce = [tex]0.053*635.71[/tex]

Amount of reduce =  £33.69263

Rounding off to two decimal place

Amount of reduce =  £33.69

Reduced price = Amount paid - Amount of reduce

Reduced price = 635.71 - 33.69 =  £602.02

The insurance costs £602.02 now.

Keywords: subtraction, division

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Answer 2

Original price × (1 - reduction percentage) = Reduced price. £635.71 × (1 - 0.053) ≈ £602.97 (rounded to 2 DP).

let's break it down step by step:

1. Calculate the reduction amount:

  Multiply the original price (£635.71) by the reduction percentage (5.3% or 0.053).

  Reduction Amount = £635.71 * 0.053

2. Subtract the reduction amount from the original price:

  Subtract the reduction amount from the original price to find the reduced price.

  Reduced Price = £635.71 - Reduction Amount

Now, let's plug in the values:

1. Calculate the reduction amount:

  Reduction Amount = £635.71 * 0.053

                   ≈ £33.73763

2. Subtract the reduction amount from the original price:

  Reduced Price = £635.71 - £33.73763

                ≈ £602.97237

Rounded to two decimal places:

Reduced Price ≈ £602.97

So, after the 5.3% reduction, Terry's car insurance costs approximately £602.97.


Related Questions

HELP! Given a pyramid l = w = 9.0 mm and V = 324.0 cubic mm , find h in mm

Answers

Answer:

The answer to your question is height = 12 mm

Step-by-step explanation:

Data

l = w = 9 mm

V = 324 mm³

h = ?

Formula

V = [tex]\frac{Ab x h}{3}[/tex]

Solve for h

                       3V = Ab h

                       3V / Ab = h    or     h = 3V / Ab

Find the area of the base

Ab = l x w

     = 9 x 9

     = 81 mm²

Substitution

                       h = [tex]\frac{3(324)}{81}[/tex]

Simplification

                       h = [tex]\frac{972}{81}[/tex]

Result

                       h = 12 mm                    

Match the units with the rotational quantity angular displacement angular velocity angular acceleration tangential acceleration tangential velocity radius a. meters per second b. meters per second-squared c. radians per second-squared d. radians e. radians per second f. meters.

Answers

Answer:

Below.

Step-by-step explanation:

a  = tangential velocity

b  = tangential acceleration

c  = Angular acceleration

d  = angular displacement

e  =  Angular velocity

f   =   radius.

While our weight is typically displayed without decimal places (e.g., 165 lbs), it can be displayed with great decimal precision. Limited only by the precision we place on it, the variable of weight is ______.

Answers

Answer:

Continuous observation

Step-by-step explanation:

Generally, the weight of any person is displaced in whole numbers without the inclusion of decimal numbers. The decimal numbers are mostly rounded up to the whole number. Based on the argument made in the given problem, the type of weight variable for this type of analysis is known as continuous observation.

The general equation for a circle is a(x2+y2)+bx+cy+d=0. There is exactly one circle passing through the points (1,2),(3,−1), and (0,0). Find an equation for this circle.

Answers

Answer:

Step-by-step explanation:

let the eq. of circle be a(x²+y²)+bx+cy+d=0

x²+y²+b/a x+c/a y+d/a=0

if it passes through (0,0)

0²+0²+b/a*0+c/a*0+d/a=0

so d=0

Hence x²+y²+b/a x+c/a y=0

if it passes through (1,2) and (3,-1)

1²+2²+b/a×1+c/a×2=0

5+b/a+2c/a=0   ...(1)

and 3²+(-1)²+b/a*3+c/a*(-1)=0

10+3b/a-c/a=0   ...(2)

(1)+2(2) gives

5+b/a+2 c/a+20+6 b/a -2 c/a=0

7 b/a+25=0

b/a=-25/7

from (1)

5-25/7+2 c/a=0

2 c/a+10/7=0

2 c/a=-10/7

c/a=-5/7

so eq. of circle is x²+y²-25/7 x-5/7 y=0

7(x²+y²)-25 x-5 y=0

Graph f(x)= square root of 9

Answers

Attached is a graph of the function [tex]f(x)=\sqrt{9}[/tex]

Manuel's grade on a science quiz was 80%. He got 20 problems correct on the quiz. How many problems were on the science quiz?

Answers

Answer:

There were 25 problems on the science quiz

Step-by-step explanation:

1. Let's review the information provided to us to answer the question correctly:

Grade Manuel got on the science quiz = 80% or 80/100

Number of correct answers = 20

2. How many problems were on the science quiz?

Let's use the Rule of Three Simple, this way:

Problems on the science quiz   Percentage

20                                                    80

x                                                       100

x * 80 = 20 * 100

80x = 2,000

x = 2,000/80

x = 25

There were 25 problems on the science quiz

Answer:

25

Step-by-step explanation:

20 x 100/80 = 25

or 20/80 = x/100

Figure FGHJ is shown below.
Figure F G H J has 4 sides. Sides F J and G H are congruent and parallel, and sides G F and H J are congruent and parallel. Angles G and J are 130 degrees.

Which names accurately describe figure FGHJ? Select two options.

parallelogram
quadrilateral
rectangle
rhombus
trapezoid

Answers

Answer:

parallelogramquadrilateral

Step-by-step explanation:

The figure has 4 sides, so is a quadrilateral. Opposite sides are parallel, so the figure is a parallelogram.

Angles are not 90°, so the figure is not a rectangle. Sides are not all the same length, so the figure is not a rhombus. Because the figure has two pairs of parallel sides (not just one pair), it is not a trapezoid.

Answer:

a and b on edge

Step-by-step explanation:

Which equation represents the function graphed on the coordinate plane? g(x) = |x + 4| – 2 g(x) = |x – 4| – 2 g(x) = |x – 2| – 4 g(x) = |x – 2| + 4. Which equation represents the function graphed on the coordinate plane?

g(x) = |x + 4| – 2
g(x) = |x – 4| – 2
g(x) = |x – 2| – 4
g(x) = |x – 2| + 4

On a coordinate plane, an absolute value graph has a vertex at (negative 4, negative 2).

Answers

Answer:

[tex]g(x)=|x+4|-2[/tex]

Step-by-step explanation:

All the absolute value functions given in the option are of the form:

[tex]g(x)=|x-h|+k[/tex], where (h,k) is the vertex

From your description the absolute value graph has vertex at (-4,-2)

Hence h=-4 and k=-2.

We substitute to get:

[tex]g(x)=|x--4|+-2[/tex]

We simplify to get:

[tex]g(x)=|x+4|-2[/tex]

A library contains 2000 books. There are 3 times as man non fiction books. Write and solve a systems of equations to determine the number of nonfiction and fiction books.

Answers

Answer:

The number of fiction books is 500 and non fiction books is 1500.

Step-by-step explanation:

Given:

Total book library contains = 2000.

There are 3 times as many non fiction books as fiction books.

Now, to determine the number of non fiction books and fiction books.

Let the fiction books be [tex]x.[/tex]

And the non fiction books be [tex]3x.[/tex]

Total books = 2000.

Now, to get the number of non fiction books and fiction books we put an equation:

[tex]3x+x=2000.[/tex]

[tex]4x=2000.[/tex]

Dividing both sides by 4 we get:

[tex]x=500.[/tex]

Fiction books = 500.

Non fiction books = [tex]3x=3\times 500=1500.[/tex]

Therefore, the number of fiction books is 500 and non fiction books is 1500.

Final answer:

To solve for the number of nonfiction and fiction books in the library, set up a system of equations and solve them to find there are 500 fiction books and 1500 nonfiction books.

Explanation:

To determine the number of nonfiction and fiction books in the library, we can use a system of equations. Let's denote the number of fiction books as F and the number of nonfiction books as NF. According to the problem, the total number of books in the library is 2000, and there are 3 times as many nonfiction books as there are fiction books.

Our two equations will be:

F + NF = 2000 (Total number of books)

NF = 3F (3 times as many nonfiction books)

To solve these equations:

Substitute the second equation into the first one:

F + 3F = 2000

4F = 2000

Divide both sides by 4 to find F:

F = 2000 / 4

F = 500

There are 500 fiction books. Now we can find the number of nonfiction books by multiplying 500 by 3:

NF = 3 * 500 = 1500

So, the library has 500 fiction books and 1500 nonfiction books.

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A company wants to decrease their energy use by 13%. If their electric bill is currently $1,800 a month, what will their bill be if they are successful?

Answers

Step-by-step explanation:

Caleb made $105 mowing lawns and walking dogs, charging the rates shown. If he mowed half as many lawns as dogs walked, how many lawns did he now and how many dogs did he walk?

Answers

Question is Incomplete;Complete question is given below;

Caleb made $105 mowing lawns and walking dogs, charging the rates shown. If he mowed half as many lawns as dogs walked, how many lawns did he mow and how many dogs did he walk? $7.50 for walking dogs and $20 for mowing lawns

Answer:

Caleb mowed 3 lawns and walked 10 dogs.

Step-by-step explanation:

Let the number of dogs he walked be 'd'.

Let number of lawn he mowed be 'l'.

Given:

If he mowed half as many lawns as dogs walked

So we can say that;

[tex]l=\frac{1}{2}d=0.5d \ \ \ \ equation\ 1[/tex]

Now given:

Cost for mowing each lawn = $20

Cost for walking each dog = $7.50

Total amount made = $105

Now we can say that;

Total amount made is equal to Cost for mowing each lawn multiplied by number of lawn he mowed and Cost walking each dog multiplied by number of lawn he mowed.

framing in equation form we get;

[tex]20l+7.5d=105 \ \ \ \ \ equation \ 2[/tex]

Substituting equation 1 in equation 2 we get;

[tex]20(0.5d)+7.5d=105[/tex]

Applying distributive property we get;

[tex]10d+7.5d=105\\\\17.5d=105[/tex]

Dividing both side by 17.5 we get;

[tex]\frac{17.5d}{17.5}=\frac{105}{17.5}\\\\d= 6[/tex]

Substituting the value of 'd' in equation 1 we get;

[tex]l=0.5d=0.5\times6=3[/tex]

Hence Caleb mowed 3 lawns and walked 10 dogs.

Bonds from the city of Tavel Gorge worth $1,000 each are selling at 110.611. If Sean wishes to purchase three such bonds, how much can he expect to pay? a. $3,000.00.b. $3,331.83.c. $3,318.33.d. $331.83.

Answers

Final answer:

The bonds are being sold at 110.611% of their face value, so each bond costs roughly $1,106.11. Therefore, to purchase three bonds, Sean would need to pay roughly $3,318.33.

Explanation:

When the question states that the bonds are 'selling at 110.611', it means that each bond is sold at 110.611% of its face value, which is $1,000. So to find the price of one bond you would multiply $1,000 by 1.10611 (110.611%), which equals roughly $1,106.11. Thus, if Sean wishes to purchase three bonds, you would simply multiply the price of one bond by three: $1,106.11 times 3 equals $3,318.33. So, Sean should expect to pay approximately $3,318.33 if he wants to purchase three bonds from the city of Tavel Gorge.

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Answer:

The bonds are being sold at 110.611% of their face value, so each bond costs roughly $1,106.11. Therefore, to purchase three bonds, Sean would need to pay roughly $3,318.33.

Step-by-step explanation:

Lizette's math test grades are 70, 72, and 68. If she scores 100 on her next test, what will happen to the RANGE of her scores? A) It will double. B) It will stay the same. C) It will increase 6 times. D) It will increase 8 times.

Answers

Answer D.It will increase 8 times.

Step-by-step explanation:

Answer: It will increase 8 times

Step-by-step explanation:

Range simply means the smallest number subtracted from the biggest number. Initially, the scores were 70, 72 and 68 then making the range 68-72 = 4. Now a new score is added which is 100 and it is obviously the biggest number now. So we subtract 68 from 100 that is ; 100-68= 32. This new range is 8 times more than the former. That is, 32/4 = 8.

Jerome solved the equation 1 3 x + 5 6 = 1 as shown. 1. Subtraction property of equality: 1 3 x + 5 6 − 5 6 = 1 1 − 5 6 2. LCD: 1 3 x = 1 6 − 5 6 3. Multiply by the reciprocal: ( 3 1 ) 1 3 x = −4 6 ( 3 1 ) 4. Solve and simplify: x = −12 6 = −2 Analyze Jerome's steps. In which step did he make an error?

Answers

Answer:

In step 2, the LCD was not used correctly to make equivalent fractions.

Step-by-step explanation:

Answer:

In step 2, the LCD was not used correctly to make equivalent fractions.

Step-by-step explanation:

Let x be a positive number such that the distance between x and -3.8 on a number line is exactly two times the distance between x and 1.7. What is the value of x? Express your answer as a decimal to the nearest tenth.

Answers

Answer:

0.4

Step-by-step explanation:

Equation is

x-(-3.8)=2(x-1.7)

solving for x,

x+3.8=2x-3.4

x=0.4

Final answer:

The value of x is found by setting up an equation based on the distances provided and considering two separate cases for the absolute value. After solving the equation, the positive value of x is determined to be 7.2.

Explanation:

To solve for the value of x in this problem, we need to set up an equation based on the information given about the distances on a number line. The distance between x and -3.8 is twice the distance between x and 1.7. This translates to the following equation:

|x - (-3.8)| = 2|x - 1.7|

We then solve this equation step-by-step:

First, simplify the equation:
|x + 3.8| = 2|x - 1.7|Next, consider the two cases based on the definition of absolute value:Case 1 (x is greater than or equal to 1.7):
x + 3.8 = 2(x - 1.7)
x + 3.8 = 2x - 3.4
3.8 + 3.4 = x
7.2 = x
x = 7.2Case 2 (x is less than 1.7):
-(x + 3.8) = 2(x - 1.7)
-x - 3.8 = 2x - 3.4
-3.8 + 3.4 = 3x
-0.4 = 3x
x = -0.4 / 3
x = -0.1333...Since x must be a positive number, we discard the negative solution. Thus, x = 7.2.

Therefore, the value of x to the nearest tenth is 7.2.

find the area of a triangle with a base of 18 in. and a height of 6 in. Use the formula for area of a triangle

Area =
[tex] \frac{1}{2} 6h[/tex]

Answers

Answer:

The area is 54

Step-by-step explanation:

6x18 = 108

108 x 1/2 = 54

Answer:

area 51

Step-by-stareaep explanation:

what is the midpoint of the segment shown below?

Answers

(5, -2)
The answer is D

A pentagon with 5 sides of equal length and 5 interior angles of equal measure is inscribed in a circle. Is the perimeter of the pentagon greater than 26 centimeters?(1) The area of the circle is 16π square centimeters.
(2) The length of each diagonal of the pentagon is less than 8 centimeters.

Answers

Answer:

Step-by-step explanation:

Check the attachment for solution

y varies jointly as x and z z. If y = 6 when x = 3 and z = 9, find y when x = 4 and z = 3.6.
but z is in square root, just the symbol doesn't show.

Answers

Answer:

  y = (8/5)√10

Step-by-step explanation:

You seem to have ...

  [tex]y=kx\sqrt{z}[/tex]

We can find k from the given values ...

  [tex]\dfrac{y}{x\sqrt{z}}=k=\dfrac{6}{3\sqrt{9}}=\dfrac{6}{3\cdot 3}=\dfrac{2}{3}[/tex]

Then for the new values, ...

  [tex]y=\dfrac{2}{3}\cdot 4\sqrt{3.6}=\dfrac{8\sqrt{90}}{3\cdot 5}=\dfrac{8\sqrt{10}}{5}[/tex]

Paisley was organizing her shoe collection. She counted 24 pairs of sandals. This represents 32% of the total number of shoes she owns. How many shoes does Paisley own?

Answers

Answer:

The number of shoes Paisley own is 75.

Step-by-step explanation:

Given:

Paisley was organizing her shoe collection.

She counted 24 pairs of sandals.

This represents 32% of the total number of shoes she owns.

Now, to find the number of shoes Paisley own.

Let the number of shoes Paisley own be [tex]x.[/tex]

According to question:

32% of [tex]x[/tex] = 24.

[tex]\frac{32}{100} \times x=24[/tex]

[tex]0.32x=24[/tex]

Dividing both sides by 0.32 we get:

[tex]x=75.[/tex]

Therefore, the number of shoes Paisley own is 75.

Answer:

The total number of shoes Paisley owns = 75

Step-by-step explanation:

Given:

24 pairs of sandals represent 32% of the shoes Paisley owns.

To find the total number of shoes Paisley owns.

Solution:

Let the total number of pairs of shoes be = [tex]x[/tex]

Thus, number of sandals can be represented as:

⇒ 32% of [tex]x[/tex]

⇒ [tex]0.32\times x[/tex]

⇒ [tex]0.32x[/tex]

Number of sandals = 24

So, we can write the equation as:

⇒ [tex]0.32x=24[/tex]

Solving for [tex]x[/tex]

Dividing both sides by 0.32.

⇒  [tex]\frac{0.32x}{0.32}=\frac{24}{0.32}[/tex]

⇒ [tex]x=75[/tex]

Thus, the total number of shoes Paisley owns = 75

Olga purchases a rectangular mirror (the shaded region) that fits exactly inside a frame. The outer perimeter of the frame measures 60 cm by 80 cm. The width of each side of the frame is 10 cm. What is the area of the mirror?

Answers

Answer:

2,400cm^2

Step-by-step explanation:

This is quite an interesting question.

Now, we know the frame measures 60 by 80. We also know that the thickness of the frame is 10cm in length. Hence from the side of the mirror to the other side of the frame is 10cm.

We have the 10cm on each side of the frame. Making a total of 40cm and 20cm each allowance on the length and breadth of the mirror. The length and breadth of the mirror is thus 40cm by 60cm.

The area of a rectangle is L * B

The area of the mirror is 40 * 60 = 2,400cm^2

The fact that the width of each side of the frame is 10 cm means that each side of the mirror is 20 cm smaller than the corresponding side of the frame. Therefore, the mirror measures 40 cm by 60 cm, with an area of 2400.

The following is a histogram showing the distribution per year of the commutative property damage caused by tornadoes, over the period 1950 to 1999, in each of the 50 states and Puerto Rico. The data are in millions of dollars, and the class intervals are 0 to < 10, 10 to < 20, and so forth.

Answers

Final answer:

The histogram depicts the year-by-year damage in millions of dollars caused by tornadoes from 1950 to 1999. It uses class intervals to display the frequency of damage costs, where each bar represents a specific cost range.

Explanation:

In the given question, we discuss a histogram that represents the commutative property damage caused by tornadoes from 1950 to 1999 across the 50 US states and Puerto Rico. The histogram's class intervals are set from 0 to < 10, 10 to < 20, and so forth, and the data are in millions of dollars. A histogram is a type of graphical representation used in statistics to display the distribution of data. Each bar in a histogram represents the tabulated frequency at each interval. In this case, the frequency is the year count in which the commutative property damage caused by tornadoes falls within a specific monetary range.

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A car drives 40 miles on local roads at 20 mph, and 180 miles on the highway at 60 mph, what is the average speed of the entire trip?
(A) 36 mph
(B) 40 mph
(C) 44 mph
(D) 52 mph
(E) 58 mph

Answers

Answer: C) 44 mph

Step-by-step explanation:

We know that [tex]\text{Time}=\dfrac{\text{Distance}}{\text{Speed}}[/tex]

Given : A car drives 40 miles on local roads at 20 mph.

i.e. Time taken : [tex]t_1=\dfrac{40}{20}=2\ hour[/tex]

Also, it drives 180 miles on the highway at 60 mph.

i.e. Time taken : [tex]t_2=\dfrac{180}{60}=3\ hour[/tex]

We know that the formula for Average speed is given by :-

[tex]A.V.=\dfrac{\text{Total distance}}{\text{Total Time}}[/tex]

So the average speed of the entire trip will be :-

[tex]\dfrac{40+180}{t_1+t_2}\\\\\\=\dfrac{220}{2+3}=\dfrac{220}{5}\\\\=44[/tex]

Hence, the average speed of the entire trip is 44 mph.

Therefore , the correct answer is C) 44 mph.

Which of the following represent Exponential Decay? Choose all that apply.

Answers

Answer:

y = (7/8)x

Step-by-step explanation:

Exponential decay is represented when the number used is less than 1. 7/8 is the only choice that is less than 1.

y = (7/8)ˣ is an exponential decay because b = 7/8 < 1.

Exponential function

An exponential decay is in the form:

y = abˣ

where y, x are variables, a is the initial value of y and b is the multiplier which is less than 1.

From the question y = (7/8)ˣ is an exponential decay because b = 7/8 < 1.

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The talent show committe sold a total of 530 tickets in advance. Student tickets cost $3 each and the adult tickets cost $5 each. Id the total receipts were $1740, how many of each type of ticket was sold?

Answers

Answer:445 student tickets were sold.

75 adult tickets were sold.

Step-by-step explanation:

Let x represent the number of student tickets that were sold in the talent show.

Let y represent the number of adult tickets that were sold in the talent show.

The talent show committee sold a total of 530 tickets in advance. This means that

x + y = 530

Student tickets cost $3 each and the adult tickets cost $5 each. The total receipts were $1740. This means that

3x + 5y = 1740 - - - - - - - - - - - - 1

Substituting x = 530 - y into equation 1, it becomes

3(530 - y) + 5y = 1740

1590 - 3y + 5y = 1740

- 3y + 5y = 1740 - 1590

2y = 150

y = 150/2 = 75

x = 530 - y = 530 - 75

x = 455

.

600 units of electricity and 100 units of gas were used for a total cost of $388. Next month, 400 units of electricity and 150 units of gas were used for a total cost of $277. Find the cost per unit of gas.

Answers

Answer:

Cost per Electricity Unit= $0.61

Cost per Gas Unit= $0.22

Step-by-step explanation:

Suppose,

Cost per Electricity Unit: e

Cost per Gas Unit: g

for the first month condition, equation would be

[tex]600*e+100*g=388...........................................(i)[/tex]

and for the next month condition, equation would be like

[tex]400*e+150*g=277...........................................(ii)[/tex]

By solving both linear equations simultaneously, we get

e=0.61    and     g=0.22

A bag of baby carrots and a container of hummus dip contain a total of 650 calories. For a snack, Rosarita ate of the bag of carrots and of the container of hummus. Her snack contained a total of 260 calories. If x represents the total number of calories in the bag of carrots and y represents the total number of calories in the container of hummus, what is one of the equations for this scenario? X+y=650 x+y=260

Answers

Answer:

[tex]x + y = 650[/tex]              

Step-by-step explanation:

We are given the following in the question:

Total calories in a bag of carrot and a container of hummus dip = 650

Rosarita's snack:

Some of the bag of carrots and some of the container of hummus.

Total calories in Rosarita's snack = 260

Let x represents the total number of calories in the bag of carrots and y represents the total number of calories in the container of hummus.

Then, we can write the following equation to represent total number of calories in both a bag of carrot and a container of hummus dip:

[tex]x + y = 650[/tex]

Since Rosarita did not eat the whole bag of carrot and the whole container of hummus and also x and y are the total calories in whole bag of carrot and container of hummus respectively.

Answer:

x+y=650

Step-by-step explanation:

its right on edge 8th grade math

Colorblindness is an X-linked recessive condition. If a woman with normal vision whose father was colorblind has a son with a man with normal vision, what is the probability that he will be colorblind?

Answers

Answer: 0.25 or 25%

Step-by-step explanation:Women have two chromosomes XX and men have two also XY.

From the question, it can be seen that colorblindness is an X-linked recessive condition.

Let the X-linked recessive gene be specified as [tex]X^{-}[/tex] and the dominant gene which is not colorblind linked as [tex]X^{+}[/tex].

The question says the woman has a father who is colourblind which means her father possesses the X-linked recessive gene [tex]X^{-}[/tex] which means he has chromosomes [tex]X^{-}Y[/tex] and therefore must have given his daughter the recessive gene

For her husband who has normal vision his chromosomes will be [tex]X^{+} Y[/tex].

So, the probability that their son will be colourblind will be;

Chromosomes [tex]X^{+}[/tex] Y

[tex]X^{+}[/tex] [tex]X^{+} X^{+}[/tex] [tex]X^{+}Y[/tex].

[tex]X^{-}[/tex] [tex]X^{-} X^{+}[/tex]. [tex]X^{-}Y[/tex].

Therefore, the probability that their son will be color blind = ¼ or 0.25 or 25%

Determine whether the underlined number describes a population parameter or a sample statistic. Explain your reasoning. Modifying Sixty minus five with underline of the 97 passengers aboard an airship survived an explosion.

Answers

Answer:

Step-by-step explanation:

The account balance on April 1st is $102.33. On April 15th a payment of $25.00 is made. On April 25th a purchase of $11.27 is made. What is the finance charge if the annual rate is 22%? What is the new account balance?

Answers

Answer:

Finance Charge = $1.42

New Account Balance = $90.02

Step-by-step explanation:

APR (Annual Percentage Rate) = 22%

Periodic Rate = 1.83% (APR/12)

Beginning Balance = $102.33

Payment made on 15th day = $25.00

Purchase made on 25th day = $11.27

Finance Charge = (Beginning Balance - Payment made on 15th day) x Periodic Rate

Finance Charge = ($102.33 - $25.00) x 0.0183

Finance Charge = $77.33 x 0.0183

Finance Charge = $1.42

New Account Balance = Beginning Balance - Payment made on 15th day + Purchase made on 25th day + Finance Charge

New Account Balance = $102.33 - $25.00 + $11.27 + $1.42

New Account Balance = $90.02

The finance charge is approximately $1.67, and the new account balance after accounting for the payment and purchase is $90.27.

We start with the account balance on April 1st, which is $102.33. On April 15th, a payment of $25.00 is made, and on April 25th, a purchase of $11.27 is made.

1: Calculate the Average Daily Balance

From April 1st to April 14th (14 days): $102.33From April 15th to April 24th (10 days): $102.33 - $25.00 = $77.33From April 25th to April 30th (6 days): $77.33 + $11.27 = $88.60

Average Daily Balance = ( (14 * 102.33) + (10 * 77.33) + (6 * 88.60) ) / 30 = $91.22

2: Calculate the Finance Charge

Given the annual interest rate of 22%, we first find the monthly rate: 22% / 12 = 1.833%.

Then we calculate the finance charge:

Finance Charge = Average Daily Balance * Monthly Rate
Finance Charge = $91.22 * 0.01833 ≈ $1.67

3: Calculate New Account Balance

New Balance = Previous Balance - Payment + Purchase + Finance Charge

New Balance = $102.33 - $25.00 + $11.27 + $1.67 = $90.27

The new account balance is $90.27.

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