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3 years ago

7

Sally borrows some money at a 15% interest rate. She repays the loan in full after 30 months and pays $1692 in interest. How muc

h did she borrow?

1 answer:

Tanya [424]3 years ago

3 0

Answer: $4512 was the amount she borrowed.

Step-by-step explanation:

SI = 1692

R = 15% = 0.15

T = 30 months = 2.5 years

SI = PRT

1692 = P x 0.15 x 2.5

1692 = 0.375P

P = 1692 / 0.375

P = 4512

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736.352, 736.363, 736.375, 736.324, 736.358, and 736.383.

The first step in order to calculate the standard deviation is calculate the mean.

Assuming population data

$\mu = \frac{\sum_{i=1}^6 X_i}{6}$

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And the population variance would be given by:

$\sigma^2 = \frac{\sum_{i=1}^6 (x_i-\bar x)}{6}$

And we got $\sigma^2 =0.000354$

And the deviation would be just the square root of the variance:

$\sigma = \sqrt{0.000354}=0.0188$

Assuming sample data

$\bar X = \frac{\sum_{i=1}^6 X_i}{6}$

The value for the mean would be:

$\bar X = \frac{736.352+736.363+736.375+736.324+736.358+736.383}{6}=736.359$

And the population variance would be given by:

$s^2 = \frac{\sum_{i=1}^6 (x_i-\bar x)}{6-1}$

And we got $s^2 =0.000425$

And the deviation would be just the square root of the variance:

$s = \sqrt{0.000425}=0.0206$

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