The total amount Ernest owes the bank after 9 months is $1,225.00
How many months of interest would be paid?
The fact the loan was taken for nine months means that the borrower, Ernest needs to pay interest for nine months, in other words, we would time-apportion the annual interest of 30% to determine the 9-month interest as shown below:
9-month interest rate=30%*9/12
9-month interest rate=22.50%
The amount Ernest is owing the bank is the principal borrowed plus the interest for 9 months as computed below:
total amount owed after 9 months=$1000*(1+22.50%)
total amount owed after 9 months=$1000*1.2250
total amount owed after 9 months=$1,225.00
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Answer:
12x-39
Step-by-step explanation:
40-1=39
When we reject the null and the null is true, we have a made a type I error
The null hypothesis in statistics states that there is no difference between groups or no relationship between variables. It is one of two mutually exclusive hypotheses about a population in a hypothesis test.
null hypothesis is denoted as H₀
Reject the null hypothesis when the p-value is less than or equal to your significance level. Your sample data favor the alternative hypothesis, which suggests that the effect exists in the population. When you can reject the null hypothesis, your results are statistically significant.
when the p-value is greater than your significance level, you fail to reject the null hypothesis.
Sometimes , we reject our null hypothesis even when its true
there we made a type I error in hypothesis
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