Tom would like to take out a secured loan to help pay for a vacation this summer. He has offered his car as collateral.
His car is worth $3,500. His bank can offer loans for 80% of collateral value. The vacation he has planned will cost
$4,750. Approximately how much additional collateral will Tom need to offer in order to borrow enough to go on his
vacation as planned?
$1,000.00
b. $1,362.50
c. $2,437.50
d. $2,800.00
a.
Please select the best answer from the choices provided
A
B.
ОООО
D
Tom will need to offer additional collateral of C. $2,437.50 to borrow enough for his planned vacation.
Collateral refers to a valued property or financial security offered by the borrower to the lender to guarantee repayment of a loan.
Lenders sell collaterals when the borrowers fail to comply with their loan terms.
Car's value = $3,500
Collateral value in percentage = 80%
Car's collateral value = $2,800 ($3,500 x 80%)
Planned cost of vacation = $4,750
Additional cost to meet vacation cost = $1,950 ($4,750 - $2,800)
Additional collateral value to meet target = $2,437.50 ($1,950/80%)
Total collateral that Tom needs to offer = $5,937.50 ($3,500 + $2,437.50)
80% of $5,937.50 = $4,750
Another way is to work with the planned cost and the collateral percentage offered by Tom's bank:
Planned cost of vacation = $4,750
Collateral value in percentage = 80%
Total collateral to be offered by Tom = $5,937.50 ($4,750/80%)
Car's collateral value = $3,500
Additional collateral value = $2,437.50 ($5,937.50 - $3,500)
Thus, Tom needs additional collateral of C. $2,437.50.
Learn more about collateral at brainly.com/question/11665626
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a. What is the estimated percentile for a student who scores 425 on Writing?
b. What is the approximate score for a student who is at the 87th percentile for Writing?
Answer:
a) The estimated percentile for a student who scores 425 on Writing is the 30.5th percentile.
b) The approximate score for a student who is at the 87th percentile for Writing is 613.5.
Step-by-step explanation:
Problems of normally distributed distributions are solved using the z-score formula.
In a set with mean and standard deviation , the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this question, we have that:
a. What is the estimated percentile for a student who scores 425 on Writing?
This is the pvalue of Z when X = 425. So
has a pvalue of 0.3050.
The estimated percentile for a student who scores 425 on Writing is the 30.5th percentile.
b. What is the approximate score for a student who is at the 87th percentile for Writing?
We have to find X when Z has a pvalue of 0.87. So X for Z = 1.126.
The approximate score for a student who is at the 87th percentile for Writing is 613.5.
Which is an ordered pair on the line?
(2.5, 14)
(2.5, 14)
(1.25, 5)
(1.25, 5)
(2.25, 12)
(2.25, 12)
(1.5, 9)
The ordered pair on the line (1.5, 9). The correct answer would be an option (D).
An ordered pair is made up of two components isolated by a comma and put inside parentheses. (x, y) indicates an ordered pair, where 'x' is the first component and 'y' is the second component in the ordered pair.
The graph below represents the distance Manuel walks over several hours.
The first and second options are not accurate since the distance is measured in miles up to 10 miles, hence the options can't be correct
The correct answer is option D since the value at t = 1.5 is equal to 9 miles
Thus, the ordered pair is on the line (1.5, 9).
Hence, the correct answer is an option (D)
Learn more about the set of ordered pairs here:
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The question seems to be incomplete the missing figure has been attached below.
Answer:
The answer is 1.5, 9
Step-by-step explanation:
If you can see the graph the speed increases
Answer:
answer: 90°
i made a whole page to show working out
hope this helps!! :)
measuring cup marked in ounces. How many ounces of water should he pour?
Answer:
The amount of water he should pour in ounces(that is the only units the cup measures) is 16 + 4 = 20 ounces
Step-by-step explanation:
He is told to dissolve a medicine he has in 1 pint 4 ounces of water . He has a measuring cup marked in ounces .This means he can only measure the water quantity in ounces.
He definitely have to convert the pints to ounces.
1 pint = 16 ounces
Recall he has to dissolve the medicine in 1 pint 4 ounces of water.
Since 1 pint is equals to 16 ounces therefore, 16 ounces + 4 ounces = 20 ounces.
The amount of water he should pour in ounces(that is the only units the cup measures) is 16 + 4 = 20 ounces