Exchange rate L 1 = $ 1.5542
Mary has $ 135
Pounds that Mary exchanged 135/1.5542
= L 86.8614 = L 87
Answer:
196
Step-by-step explanation:
Given that the significance level of 2% = α
Because the the null hypothesis is true so it is denoted by α it also defined as the level of significance =1 - confidence level = 1 - 0.02 = 0.98.
So the number of the tests will incorrectly find significance:
=0.98×200=196
Based on the information provided, it can be inferred that the lender made an excellent estimate; was equal to actual closing costs (option A)
<h3>How do you know what the lender's estimate was?
</h3>
Based on the information provided, the lender estimated that the closing cost is equal to 3% of the $ 180,000 loan. To calculate that value we must do the following operation:
- $ 180,000 / 100 x 3% = $ 5,400.
Based on the above, the estimated closing cost for that loan is $ 5,400.
<h3>How to know the real cost of closing the loan?
</h3>
To know the real cost of the loan closing we must add the following values:
- Closing Cost Charge Loan origination $ 345
- Title insurance $ 600
- Attorney's fees $ 1,350
- Appraisal $ 480
- Inspection $ 550
- Recording fees $ 175
- Escrow $ 1,900
$ 1,900 + $ 175 +% 550 + $ 480 + $ 1,350 + $ 600 + $ 345 = $ 5,400.
According to the above, the lender made a very precise estimate because his calculation hit the exact value of the closing cost (option A)
Learn more about lender in: brainly.com/question/3268275