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Airida [17]
3 years ago
11

you are looking to borrow $60,000 for college and are researching available loan options online. you narrow your choices to 2 of

fers. the first comes from a bank offering you 8.1% annual simple interest with no money down while the second comes from a bank that offers you a 6.65% annual interest rate with a 10% down payment. both banks require the loan to be repaid in 10 years. what is the cost of each loan?
Mathematics
1 answer:
Lunna [17]3 years ago
8 0
60000(0.081)10+60000=$108600

60000(.1)+60000(.0665)(10)+60000=$105900
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How would you solve the equation 4x = 100?
LenKa [72]

Answer:

25

Step-by-step explanation:

4x = 100

x = 100/4

x = 25

3 0
3 years ago
Read 2 more answers
The increasing annual cost (including tuition, room, board, books, and fees) to attend college has been widely discussed (Time).
NeX [460]

Answer:

(a) PRIVATE COLLEGES

Sample mean is $42.5 thousand

Sample standard deviation is $6.65 thousand

PUBLIC COLLEGES

Sample mean is $22.3 thousand

Sample standard deviation is $4.34 thousand

(b) Point estimate is $20.2 thousand. The mean annual cost to attend private colleges ($42.5 thousand) is more than the mean annual cost to attend public colleges ($22.3 thousand)

(c) 95% confidence interval of the difference between the mean annual cost of attending private and public colleges is $19.2 thousand to $21.2 thousand

Step-by-step explanation:

(a) PRIVATE COLLEGES

Sample mean = Total cost ÷ number of colleges = (51.8+42.2+45+34.3+44+29.6+46.8+36.8+51.5+43) ÷ 10 = 425 ÷ 10 = $42.5 thousand

Sample standard deviation = sqrt[summation (cost - sample mean)^2 ÷ number of colleges] = sqrt([(51.8-42.5)^2 + (42.2-42.5)^2 + (45-42.5)^2 + (34.3-42.5)^2 + (44-42.5)^2 + (29.6-42.5)^2 + (36.8-42.5)^2 + (51.5-42.5)^2 + (43-42.5)^2] ÷ 10) = sqrt (44.24) = $6.65 thousand

PUBLIC COLLEGES

Sample mean = (20.3+22+28.2+15.6+24.1+28.5+22.8+25.8+18.5+25.6+14.4+21.8) ÷ 12 = 267.6 ÷ 12 = $22.3 thousand

Sample standard deviation = sqrt([(20.3-22.3)^2 + (22-22.3)^2 + (28.2-22.3)^2 + (15.6-22.3)^2 + (24.1-22.3)^2 + (28.5-22.3)^2 + (22.8-22.3)^2 + (25.8-22.3)^2 + (18.5-22.3)^2 + (25.6-22.3)^2 + (14.4-22.3)^2 + (21.8-22.3)^2] ÷ 12) = sqrt (18.83) = $4.34 thousand

(b) Point estimate = mean annual cost of attending private colleges - mean annual cost of attending public colleges = $42.5 thousand - $22.3 thousand = $20.2 thousand.

This implies the the mean annual cost of attending private colleges is greater than the mean annual cost of attending public colleges

(c) Confidence Interval = Mean + or - Margin of error (E)

E = t×sd/√n

Mean = $42.5 - $22.3 = $20.2 thousand

sd = $6.65 - $4.34 = $2.31 thousand

n = 10+12 = 22

degree of freedom = 22-2 = 20

t-value corresponding to 20 degrees of freedom and 95% confidence level is 2.086

E = 2.086×$2.31/√22 = $1.0 thousand

Lower bound = Mean - E = $20.2 thousand - $1.0 thousand = $19.2 thousand

Upper bound = Mean + E = $20.2 thousand + $1.0 thousand = $21.2 thousand

95% confidence interval is $19.2 thousand to $21.2 thousand

6 0
3 years ago
Determine whether the value of each power is positive or negative.
Leona [35]

Answer:

Positive: (-3)4,(-1)2,(-4)8

Negative:(-10)5,(-2)9,(-6)3

Step-by-step explanation:

4 0
3 years ago
CAN SOMEONE HELP ME​
ANTONII [103]

Answer:

C is the answer

you can also see

7 0
3 years ago
FIND THE UNIT RATE AND ROUND TO THE NEAREST HUNDREDTHS IF NECESSARY. Jasigreen's class opened last year and serviced 6,840 custo
Vladimir [108]
<span>6840 customers ... 45 days<span>
x customers = ? ... 1 day

If you would like to know how many customers were in Jasigreen's class in 1 day, you can calculate this using the following steps:

6840 * 1 = 45 * x
6840 = 45 * x     /45
x = 6840 / 45
x = 152 customers

<span>The correct result would be </span>152 customers<span>.</span></span></span>
4 0
3 years ago
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