Joe borrowed $900 from Sam for six months. How much will Sam earn if he charges Joe a simple interest rate of 4 percent?
2 answers:
You might be interested in
For this case we have a function of the form:
Where,
A: it is the initial amount
b: is the growth rate
x: is the number of years
Substituting values we have:
We have a growing exponential function because the value of b is greater than 1.
Answer:
See attached image.
Where,
A: it is the initial amount
b: is the growth rate
x: is the number of years
Substituting values we have:
We have a growing exponential function because the value of b is greater than 1.
Answer:
See attached image.
Answer:
The 95% confidence interval for the average number of years until the first major repair is (3.1, 3.5).
Step-by-step explanation:
The (1 - <em>α</em>)% confidence interval for the average using the finite correction factor is:
The information provided is:
The critical value of <em>z</em> for 95% confidence level is,
<em>z</em> = 1.96
Compute the 95% confidence interval for the average number of years until the first major repair as follows:
Thus, the 95% confidence interval for the average number of years until the first major repair is (3.1, 3.5).