3. The policy of the Philadelphia Transit Authority is to add a bus route if at least 60% of the potential customers indicate th
at they would use the new route. A sample of 150 potential commmuters showed that 85 would use the new route from the suburbs to downtown. Should the new route be added? Use a 1% level of significance. What is the p-value for this test? What is your conclusion?
1 answer:
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Answer:
total amount that owes the bank at the end of the loan is $22897.74
Explanation:
given data
loan = $22,000
Annual rate = 8% = = 0.021192 %
time = 6 month = 183 days
solution
we get here Amount at the end of loan tenure
Amount at the end of loan tenure = Amount borrowed × FVf at 0.02192%
Amount at the end of loan tenure = $22,000 × 1.040886
Amount at the end of loan tenure = $22897.74
so total amount that owes the bank at the end of the loan is $22897.74