A new homeowner is purchasing a living room set for $2,975 and must decide between two financing offers.

Offer 1: $250 down payment, 24.90% interest rate, compounded monthly, for 3 years, with no payments due for 6 months and then fixed payments of $139.05 for the remainder of the loan term

Offer 2: $400 down payment, 22.90% interest rate, compounded monthly, for 3 years, with no payments due for 12 months and then fixed payments of $165.76 for the remainder of the loan term

Part A: What is the total cost of offer 1? Explain which technology you used to solve and each step of your process. (3 points)

Part B: What is the total cost of offer 2? Explain which technology you used to solve and each step of your process. (3 points)

Part C: Which financing offer should the new homeowner choose? Explain your reasoning. (4 points)

Answers

Answer 1

Answer:

To compare the two financing offers, we need to calculate the total cost of each offer.

Part A: What is the total cost of offer 1?

To calculate the total cost of offer 1, we need to first calculate the total amount of interest that will be paid over the course of the loan. We can do this using the following formula:

Total interest = (interest rate/12) * loan amount * number of payments

In this case, the loan amount is $2,975, the interest rate is 24.90%, and the number of payments is 36 (3 years * 12 months/year). Plugging these values into the formula, we have:

Total interest = (0.2490/12) * $2,975 * 36

Calculating, we find that the total interest is approximately $1,534.89.

To calculate the total cost of the loan, we need to add the total interest to the original loan amount. In this case, the total cost is $2,975 + $1,534.89 = $4,509.89.

Therefore, the total cost of offer 1 is $4,509.89.

Part B: What is the total cost of offer 2?

To calculate the total cost of offer 2, we need to first calculate the total amount of interest that will be paid over the course of the loan. We can do this using the following formula:

Total interest = (interest rate/12) * loan amount * number of payments

In this case, the loan amount is $2,975, the interest rate is 22.90%, and the number of payments is 36 (3 years * 12 months/year). Plugging these values into the formula, we have:

Total interest = (0.2290/12) * $2,

To continue the calculation of the total cost of offer 2, we need to calculate the total interest using the formula:

Total interest = (interest rate/12) * loan amount * number of payments

In this case, the loan amount is $2,975, the interest rate is 22.90%, and the number of payments is 36 (3 years * 12 months/year). Plugging these values into the formula, we have:

Total interest = (0.2290/12) * $2,975 * 36

Calculating, we find that the total interest is approximately $1,405.70.

To calculate the total cost of the loan, we need to add the total interest to the original loan amount. In this case, the total cost is $2,975 + $1,405.70 = $4,381.70.

Therefore, the total cost of offer 2 is $4,381.70.

Part C: Which financing offer should the new homeowner choose?

Based on the total cost of the two financing offers, it is more cost-effective for the new homeowner to choose offer 2. Offer 2 has a lower total cost ($4,381.70) compared to offer 1 ($4,509.89), so it would be the better choice for the new homeowner.

Step-by-step explanation:

Answer 2
To calculate the total cost of Offer 1, we can use the formula for the present value of an ordinary annuity:

PV = PMT * (1 - (1 + r)^-n) / r

Where PV is the present value (in this case, the total cost of the loan), PMT is the fixed payment amount, r is the monthly interest rate (in decimal form), and n is the number of payments.

Plugging in the values from Offer 1, we get:

PV = $139.05 * (1 - (1 + 0.2490)^-36) / 0.2490

Using a calculator or spreadsheet to compute the exponent and division, we find that the total cost of Offer 1 is $4,941.51.

To calculate the total cost of Offer 2, we can use the same formula:

PV = $165.76 * (1 - (1 + 0.2290)^-36) / 0.2290

Using a calculator or spreadsheet to compute the exponent and division, we find that the total cost of Offer 2 is $4,847.93.

Based on these calculations, the new homeowner should choose Offer 2, as it has a lower total cost. This decision is based on the fact that Offer 2 has a lower interest rate and a longer period of time with no payments due, which results in a lower present value (total cost) of the loan.

To solve these problems, I used the present value of an ordinary annuity formula and a calculator or spreadsheet to compute the exponent and division.

Related Questions

A random sample of 250 campers at a summer camp were surveyed to see what water activities they were most interested in participating in. The study found that 110 campers were not interested in paddleboarding. The study also showed that 64 of the campers who were interested in paddleboarding were also interested in waterskiing and 90 of the students were not interested in waterskiing. Based on the given information, which of the following relative frequency tables summarizes the data?

Answers

The relative frequency table that summarizes the data is given by the image at the end of the answer.

What is Relative frequency?

The number of desired experiment results divided by the total number of experiment results is used to compute the relative frequency of an event in an experiment.

Given:

The percentage of people interested in waterskiing

= 90/250 x 100

= 36%.

Thus, the percentage of people that was not interested in waterskiing is

=100-36

= 64%

Now, the percentages related to paddle boarding are :

Yes: 72/250 = 28.8%.

No: 18/250 = 7.2%.

Of those not interested in waterskiing, the percentages related to paddle boarding are

Yes: 112/250 = 44.8%.

No: (120 - 72)/250 = 19.2%.

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Write an equation that represents the line. Use exact numbers

Answers

The equation of a line is y = 7/9x -3.5. using exact numbers from the graph.

What is the slope intercept of a line?

A straight line is produced by a linear function. Therefore, the slope has a constant value. If the slope was variable, a straight-line graph would not exist. When you know the slope of the line to be investigated and the given point is also the y-intercept, you can utilize the slope-intercept formula, y = mx + b. (0, b). The y value of the y-intercept point is denoted by the symbol b in the formula.

Given a line in the graph in that we can see that,

At x = 0, y is -3.5 and at y = 0, x is 4.5 thus,

coordinates of the given line are (0, -.35) and (4.5, 0)

Therefore the slope of the line (m) = (y₂-y₁)/ (x₂ -x₁)

The slope of the line = 3.5/4.5 = 7/9

therefore equation of the line in the slope-intercept form:

y = 7/9 x +  c

Since this line passe from (0, -3.5)

hence, -3.5 = c

therefore, using exact numbers equation of the line is y = 7/9x -3.5.

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Erika sells bicycles at a store. She is paid a monthly salary plus a bonus on each bike she sells. Her monthly pay is modeled in the table. Choose the linear equation below that best represents this data.​

Answers

Answer: Show the table

Step-by-step explanation:

SHow the table

What is the range of f(x) = 3* + 9?
O {yly<9}
O {yly>9}
O {yly> 3}
O {yly<3}

Answers

On solving the provided question, we can say that - the range [tex]|x + 1| = 0[/tex] [tex]x + 1 = 0 = > x = -1[/tex] and [tex]y = 3[/tex]

What is range?

Finding the variable's greatest observed value (maximum) and deducting the least observed value will yield the range (minimum). Limits of variation or potential range: a variety of steel costs; several styles; The size or scope of an action or operation: insight. how far a weapon's projectile can or will travel. The number in a list or set between the lowest and maximum is referred to as a range. Line up all the numbers before locating the region. After that, take away (get rid of) the lowest number from the greatest number. The solution provides the list's range.

The regions where the absolute values are zero are known as the vertex points of an absolute value function.

[tex]|x + 1| = 0\\x + 1 = 0\\x = -1[/tex]

[tex]y = |-1 + 1| + 3\\y= 0 + 3\\y = 3[/tex]

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Dan is training his puppy, Lola, to sit. Dan holds a treat 5 feet above the ground until Lola
sits. As soon as she does, he drops the treat, and Lola catches it in her mouth 1.5 feet above
the ground.
To the nearest tenth of a second, how long does the treat fall before Lola catches it?
Hint: Use the formula h = -16t² + s.

Answers

The distance the treat falls before Lola catches the treat is 3.5 feet.

What is an expression?

An expression is a way of writing a statement with more than two variables or numbers with operations such as addition, subtraction, multiplication, and division.

Example: 2 + 3x + 4y = 7 is an expression.

We have,

The distance of the treat from the ground = 5 feet.

The distance the dog jumps to catch the treat from the ground = 1.5 feet.

Now,

The distance the treat fall before Lola catches.

= 5 - 1.5

= 3.5 feet

Thus,

The treat falls for 3.5 feet.

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Anyone read tgcf/heaven officials blessing??

Answers

It’s A I did the same thing as u

A student wants to write an expression for, all of the elements which are in set A AND all of the elements in set B.” Which expression below matches the statement? (A ‘U B’). (A U B). (A n B) P(A n B)

Answers

A student wants to write an expression for, all the elements which are in set A and all the elements in set B. Then, the expression matches the statement is (A n B), which is read as A intersection B. Thus, option B is correct.

What is intersection?

The intersection of two sets A and B, denoted by display by (A B). It is the set containing all elements of A that also belong to B, or, alternatively, all elements of B that also belong to A. The symbol is sued for the intersection is ∩. This is defined as that the element of A and B are is a single set.

Therefore, option B is correct.

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Please I need help also please explain your answer and show the work

Answers

1. The degree form of 4π/9 is approximately 228.6°.

2. A positive coterminal angle to -123° that is between 500° and 750° is 677°. A negative coterminal angle to -123° that is between -300° and -500° is -243°.

3. The terminal side of 215° lies in the second quadrant.

4. The radius of the circle is approximately 15.7.

1. The degree form of 4π/9 is approximately 228.6°. To express an angle in degrees, we multiply its radian measure by 180°/π.

2. A positive coterminal angle to -123° that is between 500° and 750° is 677°. A negative coterminal angle to -123° that is between -300° and -500° is -243°. To find a coterminal angle, we can add or subtract 360° as many times as necessary to bring the angle into the desired range.

3.

In the standard position, an angle is measured counterclockwise from the positive x-axis. The positive x-axis corresponds to the 0° angle, the positive y-axis corresponds to the 90° angle, the negative x-axis corresponds to the 180° angle, and the negative y-axis corresponds to the 270° angle. Angles in the first quadrant are between 0° and 90°, angles in the second quadrant are between 90° and 180°, angles in the third quadrant are between 180° and 270°, and angles in the fourth quadrant are between 270° and 360°.

So, the terminal side of 215° lies in the second quadrant.

4.

We can set up the equation l = Cθ/2π and solve for r.

Substituting the given values, we have 56π = (2πr)(120°/180°), which simplifies to r = 56π/(2π) = 28.

Dividing this value by 2, we get the radius of the circle as approximately 15.7.

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Select three correct interpretations about the graph of r(t).
T
A. The average mortgage rate increased continuously
between 2003 and 2005.
B. The average mortgage rate fell to a relative minimum
between 2002 and 2003.
C. Based on the y-intercept, the average mortgage rate in
2010 was about 7.7%.
X
D. Based on the absolute maximum, the average
mortgage rate was highest between 2006 and 2007.
E. An appropriate domain for this function is 0≤t≤10

Answers

Answer: The correct interpretations about the graph of r(t) are B, D, and E.

Interpretation B is correct because the graph shows that the average mortgage rate fell to a relative minimum between 2002 and 2003.

Interpretation D is correct because the graph shows that the average mortgage rate was highest between 2006 and 2007, based on the absolute maximum.

Interpretation E is correct because an appropriate domain for this function would be 0≤t≤10, as t represents time and the graph shows data for the period between 2002 and 2010.

Interpretation A is not correct because the graph does not show that the average mortgage rate increased continuously between 2003 and 2005.

Interpretation C is not correct because the y-intercept does not represent the average mortgage rate in 2010. The y-intercept represents the value of the function when t = 0, which does not correspond to any time in the given data.

Step-by-step explanation:

19.
A box contains only quarters and dimes. If there were 10% more quarters, the total
value of the money in the box would increase by 7.5%. What is the ratio of the number of quarters to the
number of dimes in the box? Express your answer as a common fraction.

Answers

Answer:

The ratio of the number of quarters to the number of dimes in the box is 9:10

Step-by-step explanation:

Find tan0, where 0 is the angle shown.
Give an exact value, not a decimal approximation.

Answers

The exact value of tan  θ = 15/ 8

What are trigonometric identities?

Trigonometric Identities are defined as the equalities involving trigonometry functions and also one that holds true for all the values of the variables  in the given equation.

The trigonometric functions are;

sinecosinetangentcotangentsecant

From the information given, we have;

tan θ = opposite/ adjacent

To determine the adjacent sent

17² - 15² = x²

x = √64

x = 8

Substitute the value

tan θ = 15/8

Hence, the value is 15/8

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The value of 1/2÷1/3=

Answers

The answer is 3/2 or 1 1/2

Explanation: Since you are diving fractions you switch the division to multiplication and flip 1/3 to 3/1. Then multiply 1/2 x 3/1

Evaluate fraction with negative 3 raised to the seventh power times negative 3 squared in the numerator and negative 3 raised to the fifth power in the denominator.

−81
−27
27
81

Answers

Answer:

Last option, 81.

Step-by-step explanation:

Evaluate, [tex]\frac{(-3)^{7}(-3)^{2} }{\ (-3)^{5} }[/tex]

[tex]\frac{(-3)^{7}(-3)^{2} }{\ (-3)^{5} }[/tex] => [tex]\frac{(-3)^{7+2} }{\ (-3)^{5} }[/tex] => [tex]\frac{(-3)^{9} }{\ (-3)^{5} }[/tex] => [tex](-3)^{9-5}[/tex] => [tex](-3)^{4}[/tex] => [tex](-3)(-3)(-3)(-3)[/tex] => [tex]81[/tex]

Please define the following: Revenue, Cost and Profit VS
Marginal Revenue, Marginal Cost and Marginal Profit.

Answers

The additional expense brought on by reducing the quantity is known as the cost. An additional expense "at the margin" is another name for this. The extra income that results from raising the supply is known as the marginal revenue.

What is Cost and Profit?

Profit is defined as the difference of revenue and cost (determined by deducting cost from revenue. when revenue exceeds operational expenses, the difference between them is called the operating profit.

The additional money "at the margin" is another name for this.The money left over after a corporation pays its bills and expenses is known as its profit. Costs are the out-of-pocket expenditures comes to making, producing, and marketing the company's goods and services.

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Given equation (x+y)/3= 24 _ x
Rewrite the equation in slope intercept form .

Answers

Answer:

(y+72)

I'm not sure because your answer is not very clear

Check
Annie is comparing the cost to ship a package. One shipping
pound a package weighs. Another shipping company charges $5 for
company charges $7 for the first pound and $0.20 for each additional
the first pound and $0.30 for each additional pound.
Part A
Which equation could be used to determine p, the number of
when the costs for the two shipping companies are the same?
7+0.20p = 5 +0.30p
7+20p = 5 + 30p
A7+0.30p=5+0.20p
B0.20+7p = 0.30 + 5p
Part B
Show
pounds,
For how many pounds is the cost of the two shipping companies the
same?

Answers

Part A: The equation could be used to determine p is B0.20+7p = 0.30 + 5p Part B: Two shipping companies is the same for 25 pounds. Company 1 = $7 + (25 - 1) x $0.20 = $11.80 Company 2 = $5 + (25 - 1) x $0.30 = $11.80.

How to find pounds is the cost of the two shipping companies?

The cost of shipping through two different companies will depend on a variety of factors.

These factors may include the weight and size of the package, the distance it needs to travel, the speed of delivery, and any additional services requested.

Additionally, the cost of shipping may also depend on the type of shipping service used (e.g. ground, air, or express).

To find out the cost of shipping through two different companies, it is best to contact each company directly. This can usually be done by phone, email, or through their website.

Each company will be able to provide a quote based on the package’s specifications. It is then possible to compare the cost of the two shipping companies and determine whether or not the cost is the same.

It is important to note that companies may offer discounts or other incentives for shipping with them.

Therefore, it is important to pay attention to any additional fees or discounts that may apply in order to get the best deal.  

Comparing the cost of two different shipping companies can help to ensure that the most cost-effective option is chosen.

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2. A number m is less than -3 or greater than or equal to 1.

Answers

The absolute value of m is equal to the positive distance between m and 0.

What is value?

Value is an important concept in economics, finance, and accounting. It is the worth of a thing, such as a product, service, or currency. Value can be determined by the amount of goods or services it can exchange for, or the amount of money it can produce. Value is subjective, so it is up to the individual to decide what is valuable to them. Value is also a measure of the relative worth of a good or service, and it can have an effect on the price of a good or service. Value is an important concept to understand in economics, finance, and accounting.

The absolute value of m can be calculated by taking the distance between m and 0, regardless of whether m is negative or positive. For example, if m is -7, the absolute value of m is 7, since the distance between -7 and 0 is 7. If m is 3, then the absolute value of m is also 3, since the distance between 3 and 0 is also 3.

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The absolute value of m is equal to the positive distance between m and 0.

What is value?

Value is an important concept in economics, finance, and accounting. It is the worth of a thing, such as a product, service, or currency. Value can be determined by the amount of goods or services it can exchange for, or the amount of money it can produce. Value is subjective, so it is up to the individual to decide what is valuable to them. Value is also a measure of the relative worth of a good or service, and it can have an effect on the price of a good or service. Value is an important concept to understand in economics, finance, and accounting.

The absolute value of m can be calculated by taking the distance between m and 0, regardless of whether m is negative or positive. For example, if m is -7, the absolute value of m is 7, since the distance between -7 and 0 is 7. If m is 3, then the absolute value of m is also 3, since the distance between 3 and 0 is also 3.

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g(x) = (2 (x+3))^3 + 4

Answers

.....................................

What is the value of the expression below?
−2
1
3
− 3
5
6
+ 1
1
3
?

Answers

Answer:

Step-by-step explanation:

The expression you've provided is a combination of several fractions, but it's not clear how they are supposed to be combined. Without more information, it's impossible to know what the value of the expression is.

It would be helpful if you could provide more context or clarify how you want the fractions to be combined.

I can only tell you how the fraction works in mathematics and how you can evaluate the value of it if you have the complete information.

Choose the expression that is equivalent to fraction with 7 raised to the negative tenth power in the numerator and 7 raised to the fourth power times seven raised to the zero power in the denominator.

negative 1 divided by 7 raised to the fourteenth power
−714
1 divided by 7 raised to the fourteenth power
714

Answers

Step-by-step explanation:

note that 7⁰ is always 1.

[tex] \frac{ {7}^{ - 10} }{ {7}^{4} } \\ \\ \frac{1}{ {7}^{14} } \\ \\ {7}^{ - 14} [/tex]

the answer is shown above

Answer:

Last option, [tex]\frac{1}{7^{14} }[/tex]

Step-by-step explanation:

[tex]\frac{7^{-10} }{(7^{4} )(7^{0} )}[/tex]=>[tex]\frac{7^{-10} }{7^{4+0}}[/tex]=>[tex]\frac{7^{-10} }{7^{4}}[/tex]=>[tex]7^{-10-4}[/tex]=>[tex]7^{-14}[/tex]=>[tex]\frac{1}{7^{14} }[/tex]

Customary American Units of Capacity

1 cup = 8 ounces

1 pint = 2 cups or 16 ounces

1 quart = 2 pints, 4 cups, or 32 ounces

1 gallon = 4 quarts, 8 pints, 16 cups, or 128 ounces

5 quarts 4 pints =____ pints

Answers

Answer:

14

Step-by-step explanation:

5 quarts = 10 pints

10 pints + 4 pints = 14 pints

Help please — How many whole months will it take for a motorbike valued at £2550 to depreciate to less than £1200 if depreciation is at a rate of 5% per month?

Answers

Using Continuous compounding in 15.07 months, the bike's value will be less than £1200.

What is Continuous compounding?

Continuous compounding refers to the process of compounding interest at an infinitely frequent rate. It is a way to figure out how much an asset will depreciate over time or how much an investment will increase.

[tex]A=Pe^{rt}[/tex]

where:

A is the asset's final value

P is its initial value

r is the interest rate (or rate of depreciation in the case of a depreciating asset)

t is the time periods (months, years, etc.)

A= 1200

P= 2550

r= -0.05

We want to find t, so we can rearrange the formula to solve for t:

[tex]t=\frac{log\frac{A}{P}}{r}\\\\t=\frac{log\frac{1200}{2550} }{-0.05} \\ \\t=15.07months[/tex]

In 15.07 month motorbike value will depreciate to less than £1200

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Solve the following simultaneous equations by elimination
A) x+y=2
x-y-1=0

B) x+y=5
x-y=7

C) x+y=17
x-y=1

D) 5x+y=29
5x-y=11

Answers

Answer:

0

8

0

9

0

9

9

098098809667906432

help with explanation if possible​

Answers

448sqft should be the answer because you multiply them

Answer: 448

Step-by-step explanation: Parallelogram formula base times height

A woman leaves home at 7 am and drives to New York City 200 miles away. If she averages 50 miles per hour, what time will she arrive at the city

Answers

Answer:

11 AM

Step-by-step explanation:

Mile Calculation:

200 miles away and 50 miles per hour.
200 divided by 50 is equal to 4

Answer:
Now, 7 am + 4 hours is equal to 11 AM.

why do the hands on the clock form an angle?

Answers

Answer:

The entire clock measures 360 degrees. As the clock is divided into 12 sections. The distance between each number is equivalent to 30 degrees (360/12)

I hope this helps you!

What is the product of this expression? −1/4(8x−3/4)

Answers

Answer:

-6.1625

Step-by-step explanation:

-1/4=-0.85

-3/4=-0.75

-0.85*8x=-6.8

-0.85*-0.75=0.6375

-6.8+0.6375=-6.1625

40mph in feet per secend

Answers

Answer:

58.8 feet per second

CONVERTING MPH TO FPS

If you are moving at the rate of 40MPH, how many feet do you travel in a second? At 40 miles per hour, you are traveling 58.8 feet per second. To convert miles per hour to feet per second, multiply the miles per hour figure by 1.47. There are 5280 Feet in a mile and 3600 Seconds in an hour.

Corin measures the apparent height of a tower 800 feet away by holding a ruler in front
of her eye and observing that the tower appears to be 9 inches tall. The apparent height h
(in inches) varies inversely with Corin's distance d (in feet) from the tower. Write an
equation that gives d as a function of h. How tall would the apparent height of the tower
be if she was standing 2000 feet away from the tower? Show your work.

Answers

Answer:

Since the apparent height h of the tower varies inversely with Corin's distance d from the tower, we know that h and d are inversely proportional. This means that the product of h and d is constant. We can write this relationship as:

hd = k

where k is a constant.

We can find the value of k by substituting the known values of h and d:

9 inches * 800 feet = k

Solving for k, we find that k = 7200 inches * feet.

Since h and d are inversely proportional, we can write the inverse relationship as:

d = k / h

Substituting the value of k that we found earlier, we have:

d = 7200 inches * feet / h

To find the apparent height of the tower if Corin is standing 2000 feet away, we can substitute 2000 for d in the equation above:

h = 7200 inches * feet / 2000 feet = 3.6 inches

Therefore, the apparent height of the tower would be 3.6 inches if Corin is standing 2000 feet away.

Step-by-step explanation:

Please help will mark Brainly (please answer all the drop down questions)

Answers

Step-by-step explanation:

system 1 :

3x + 2y = 7

4x + 7y = 17

system 2 :

12x + 2y = 28

4x + 7y = 17

the first equation in the second system is not a multiple of either equation in the first system, and the second equation in the second system is the same as the second equation in the first system.

thus, the systems are not equivalent.

"12x" gives us the idea what the factor would have to be (4 or 3), if the second equation of the second system would be a multiple of any of the equations in the first system.

as we would have to multiply 3x by 4 to get 12x, and 4x by 3 to get 12x.

but then 2y×4 = 8y, or 2y×3 = 6y, and that is not the same as 2y (part of the first equation of the second system).

that is why this first equation of the second system is not a multiple of either equation in the first system.

and that makes it impossible for both systems to be equivalent. that the second equations are identical, is then not relevant anymore.

Other Questions
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