Answer:
9 hours
Step-by-step explanation:
Let :
Landon hours = x
Ben hours = y
x + y = 14 - - (1)
60x + 56y = 820 - - - (2)
From (1)
y = 14 - x
60x + 56(14 - x) = 820
60x + 784 - 56x = 820
4x = 820 - 784
4x = 36
x = 36/4
x = 9
Landon drove for 9 hours
This question can be approached using the present value of annuity formula. The present value of annuity is given by
, where: PV is the present value/amount of the loan, P is the periodic (monthly in this case) payment, r is the APR, t is the number of payments in one year and n is the number of years.
Given that the<span> financing is for a new road bike of $2,500 and that the bike shop offers a 13.5% APR for a 24 month loan.
Thus, PV = $2,500; r = 13.5% = 0.135; t = 12 payments (since payment is made monthly); n = 2 years (i.e. 24 months)
Thus,
</span>
<span>
Therefore, his monthly payment is $119.44</span>
Standard error of the mean is computed by:
Standard error = SD/ sqrt N
Where:
N is the sample size
SD is the standard deviation
To get the standard deviation, you need to get the sqrt of
the variance = sqrt 9 = 3
So plugging in our data:
Standard error = 3 / sqrt (16)
= 0.75
If you add 6% your answer would be $<span>51.41 hope it helps <3</span>