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netineya [11]
3 years ago
9

Four loan balances are $6,500, $3,600, $5,400, and $7,500, respectively. The current interest rates for the loans are 7%, 5%, 6%

, and 9%, respectively. If the four are to be consolidated into one loan, what is the WEIGHTED AVERAGE interest rate on that loan?
A) 6.75%
B) 7.01%
C) 7.04%
D) 7.10%
Mathematics
2 answers:
Ainat [17]3 years ago
8 0

Answer:

7.10% is the answer.

My name is Ann [436]3 years ago
5 0

[(455 + 180 + 324 + 675)/(65 + 36 + 54 + 75)] = 7.10

Answer is D.

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The answer is the mean, mode, and median increases by 4, the range of times is the same.

Week 1:                                              Week 2:
Student - Hours                                 Student - Hours<span>
Bob          19                                       </span>Bob          23<span>
James      10                                      </span>James       14<span>
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Julio         16                                       </span>Julio         20<span>
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The mean is the sum of all values divided by the number of values:
Week 1: (19 + 10 + 15 + 17 + 10 + 16 + 13)/7 = 100/7 = 14.28
Week 2: (23 + 14 + 19 + 21 + 14 + 20 + 17)/7 = 128/7 = 18.28
The difference in means between Week 2 and Week 1 is 4 (18.28 - 14.28 = 4)

The median is the middle value. To calculate, first rearrange values from the lowest to the highest and then find the middle value:
Week 1: 10, 10, 13, 15, 16, 17, 19            - The median is 15.
Week 2: 14, 14, 17, 19, 20, 21, 23          - The median is 19.
The difference in medians between Week 2 and Week 1 is 4 (19 - 15 = 4)

The mode is the value that occurs most frequently.
</span>Week 1: 10, 10, 13, 15, 16, 17, 19            - The mode is 10.
Week 2: 14, 14, 17, 19, 20, 21, 23          - The mode is 14.
The difference in modes between Week 2 and Week 1 is 4 (14 - 10 = 4)

The range of times is the difference between the highest and the lowest value.
Week 1: 10, 10, 13, 15, 16, 17, 19            - The range of times is 9 (19 - 10 = 9).
Week 2: 14, 14, 17, 19, 20, 21, 23          - The median is 9 (23 - 14 = 9).
The difference in the ranges of times between Week 2 and Week 1 is 0 (9 - 9 = 0)
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