Theodore took out an 80/20 mortgage on a $191,000 home. What is the
2 answers:
Answer:
The amount financed under the first mortgage is $152800
Step-by-step explanation:
Given:
Theodore took out an 80/20 mortgage on a $191,000 home.
To Find:
The amount financed under the first mortgage = ?
Solution:
Here
80/20 mortgage means pay 20% of the amount is made as down payment and 80% is borrowed as finance amount of home value.
Home value = $191,000
Here, we need to find finance amount from $191,000
We will calculate the 80% of $191,000
Finance amount
= 80% of 191,000
=
= 0.80 x 191000
= 152800
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Answer:
Step-by-step explanation:
n - 10 > 6 <em>add 10 to both sides</em>
n - 10 + 10 > 6 + 10
n > 16
Answer:
From this result we can conclude that the value of 70.9 is 0.78 deviation below the true mean of 71.5 and that can be considered as unusual. If we conduct a hypothesis test or a confidence interval we will see that we have enough evidence to conclude that the true mean is not significantly different from 71.5.
Step-by-step explanation:
For this case from all the population we know that the population mean and deviation are:
And we take a random sample of size n =40 and we got a sample mean calculated with the following formula:
And we want to test if this value is unusually low.
Since the sample size is large n>30 we can use the central limit theorem who says that the distribution for the sample mean is given by:
And on this case if we replace the values that we have we got:
For this case we can calculate how many deviations above or below is our calculated value from the sample of size 40, using the z score given by:
From this result we can conclude that the value of 70.9 is 0.78 deviation below the true mean of 71.5 and that can be considered as unusual. If we conduct a hypothesis test or a confidence interval we will see that we have enough evidence to conclude that the true mean is not significantly different from 71.5.