A 2 column table with 7 rows. The first column, x, has the entries, negative 2, negative 1, 0, 1, 2, 3. The second column, f(x)
2 answers:
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Remember that the formula for simple interest is:
Where I is the interest to paid, p is the loan, r is the interest rate (in decimal), and t is the time (in years).
A. We know that the interest rate for a loan of 9 months is 2.9%, but we need to convert that rate to decimal. To do that just divide the interest rate by 100%:
Next, we are going to find the time t in years. Since the period of time is 9 months, we are going to dive by 12, the number of months in a year, to obtain the time in years:
Now, we just need to replace the values in our formula to find the interest owned:
We can conclude that <span>the interest owed for a home improvement loan of $900 after 9 months is $19.58.
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B. Similarly:
We can conclude that the interest owed for a home improvement loan of $2500 after 18 months is $116.25.
C. Similarly:
We can conclude that the interest owed for a home improvement loan of $5600 after 6 months is $67.2
Where I is the interest to paid, p is the loan, r is the interest rate (in decimal), and t is the time (in years).
A. We know that the interest rate for a loan of 9 months is 2.9%, but we need to convert that rate to decimal. To do that just divide the interest rate by 100%:
Next, we are going to find the time t in years. Since the period of time is 9 months, we are going to dive by 12, the number of months in a year, to obtain the time in years:
Now, we just need to replace the values in our formula to find the interest owned:
We can conclude that <span>the interest owed for a home improvement loan of $900 after 9 months is $19.58.
</span>
B. Similarly:
We can conclude that the interest owed for a home improvement loan of $2500 after 18 months is $116.25.
C. Similarly:
We can conclude that the interest owed for a home improvement loan of $5600 after 6 months is $67.2
Answer:
(a) Point estimate = 7.10
(b) The critical value is 1.960
(c) Margin of error = 0.800
(d) Confidence Interval = (6.3, 7.9)
(e) We are 90% confident that the average number of hours worked by the students is between 6.3 and 7.9
Step-by-step explanation:
Given
-- sample mean
--- sample standard deviation
--- samples
Solving (a): The point estimate
The sample mean can be used as the point estimate.
Hence, the point estimate is 7.10
Solving (b): The critical value
We have:
--- the confidence interval
Calculate the level
Divide by 2
Subtract from 1
From the z table. the critical value for is:
Solving (c): Margin of error
This is calculated as:
Solving (d): The confidence interval
This is calculated as:
Solving (d): The conclusion
We are 90% confident that the average number of hours worked by the students is between 6.3 and 7.9