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Lyrx [107]
3 years ago
7

You borrow $1,000 on a simple interest loan. You pay an annual rate of 3.5%. You will take 3 years to pay back the loan. How muc

h interest will you pay?
Mathematics
1 answer:
yuradex [85]3 years ago
6 0

Answer:

  $105

Step-by-step explanation:

The appropriate formula for the simple interest is ...

  I = Prt

for principal P borrowed at rate r for time period t.

Filling in the given values, we find the interest to be ...

  I = $1000×0.035×3 = $105

You will pay $105 in interest.

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Step-by-step explanation:

Since we have given that

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Probability that candies are blue = p= 0.26

Probability that company claims that it is blue candy = P = 0.27

So, Q = 1-P= 1-0.27 = 0.73

So, Null hypothesis : H_0:p=P

Alternate hypothesis : H_1:p\neq P

So, the test statistic would be

z=\dfrac{p-P}{\sqrt{\dfrac{P.Q}{n}}}\\\\z=\dfrac{0.26-0.27}{\sqrt{\dfrac{0.27\times 0.73}{100}}}\\\\z=-0.2252

Since α = 0.05

So, critical value of z = 1.96

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Using the excel function , we get that

P(z>0.2252)\\\\=2\times 0.410.911845\\\\=0.8219

Hence, a) -0.2252, b) 0.8219

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