Simple interest means the interest at the end of each year will always be 8% of 2000 (assuming he doesnt pay some of it off), and will not be compounded with the existing interest.
To get a percentage, multiply by the percentage/100, in this case i.e. multiply by 0.08.
2000*0.08 = $160.
Therefore he has $160 of interest each year to pay.
Now we just need to work out how many lots of 160 go into 640, i.e. divide through.
640/160 = 4 - therefore he has had the loan for 4 years.
Answer:
All real numbers except 1
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Answer: the probability of a student being overdrawn by more than $18.75 is 0.674
Step-by-step explanation:
Since the bank overdrafts of ASU student accounts are normally distributed, we would apply the formula for normal distribution which is expressed as
z = (x - µ)/σ
Where
x = bank overdraft of Asu students.
µ = mean
σ = standard deviation
From the information given,
µ = $21.22
σ = $5.49
We want to find the probability of a student being overdrawn by more than $18.75. It is expressed as
P(x > 18.75) = 1 - P(x ≤ 18.75)
For x = 18.75,
z = (18.75 - 21.22)/5.49 = - 0.45
Looking at the normal distribution table, the probability corresponding to the z score is 0.326
Therefore,
P(x > 18.75) = 1 - 0.326 = 0.674
Answer:
3. from right to left is: -1.9, -.6, .4, 1.1
4. C
5. B
