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enot [183]
3 years ago
10

Monique borrows $5000 at 5.5% interest compounded daily for 29 days. How much will she owe at the end of 29 days?

Mathematics
1 answer:
slega [8]3 years ago
7 0

Answer:

Step-by-step explanation:

We would apply the formula for determining compound interest which is expressed as

A = P(1+r/n)^nt

Where

A = total amount in the account at the end of t years

r represents the interest rate.

n represents the periodic interval at which it was compounded.

P represents the principal or initial amount borrowed

From the information given,

P = 5000

r = 9

5.5% = 5.5/100 = 0.055

Assuming they are 365 days in a year

n = 365 because it was compounded 52 times in a year.

t = 29/365 = 0.0794

Therefore,

A = 5000(1 + 0.055/365)^365 × 0.0794

A = 5000(1 + 0.00015)^29

A = 5000(1.00015)^29

A = $5022

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Answer:

t=\frac{3.8-4}{\frac{0.5}{\sqrt{15}}}=-1.549    

Step-by-step explanation:

Data given and notation  

\bar X=3.8 represent the sample mean

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\mu_o =4 represent the value that we want to test

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t would represent the statistic (variable of interest)  

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We need to conduct a hypothesis in order to check if the mean weight is less than 4 ounces, the system of hypothesis would be:  

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Alternative hypothesis:\mu < 4  

If we analyze the size for the sample is < 30 and we don't know the population deviation so is better apply a t test to compare the actual mean to the reference value, and the statistic is given by:  

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t-test: "Is used to compare group means. Is one of the most common tests and is used to determine if the mean is (higher, less or not equal) to an specified value".  

Calculate the statistic

We can replace in formula (1) the info given like this:  

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zhenek [66]
Does it mean factor it out??
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