Answer:
Annual interest rate for this loan. Interest is calculated monthly on the current outstanding balance of your loan at 1/12 of the annual rate.
Monthly loan payment is $400.76 for 60 payments at 7.5%.
Step-by-step explanation:
Calculate:PaymentAmount
?Loan amount:*Enter an amount between $0 and $100,000,000
$20,000
?Monthly payment:
$401
?Interest rate:*Enter an amount between 0% and 25%
7.5%
?Term in months:*Enter an amount between 1 and 480
60
Total interest paid:$4,045.51
Total payments:$24,045.51
You can make it with 10 because 10%times 5% is 50%
Answer:
Step-by-step explanation:
To be able to draw a conclusion from the data given, lets find out the p value using the t score and this will be used to make a conclusion.
If the p value is less than 0.05 then, we will reject the null but if otherwise we will fail to reject the null.
Using a p value calculator with a t score of 2.83, significance level 0.05 and the test is a two tailed test, the p value is 0.004655 which is less than 0.05 and the result is significant.
This we will reject the null hypothesis H0:p∗=1/2 for this data set.
