First, we calculated the discounted price which would have been paid by Keith. That is the product of 85% and $36,000.
($36,000) x (85%) = $30,600
Then, after negotiating to pay 9% off the sale price, he will only need to pay 91% of the sale price. The new price would be,
($30600) x (0.91) = $27846
Thus, Keith will only need to pay $27,846.
P-value approach is used to take a decision to reject or accept the null hypothesis as indicated below:
<span>REJECT the hypothesis, if p-value </span><span>FAIL TO REJECT the hypothesis, if p-value > the alpha value.
</span><span>Alpha value represents the level of significance </span>
<span>If alpha value is NOT indicated: alpha = 0.05 can be assumed </span>
<span>REJECT the hypothesis, because p-value (0.036) < the alpha value assumed which is 0.05</span>
Your question doesn't say what are the options, but we can make some reasoning.
The average daily balance method is based, obviously, on the <span>average daily balance, which is the average balance for every day of the billing cycle. Therefore, in order to calculate the average daily balance, you need to sum the balance of every day and then divide it by the days of the billing cycle.
In your case:
ADB = (9</span>×2030 + 21×1450) / 30 = 1624 $
Now, in order to calculate the interest, you should first calculate the daily rate, since APR is usually defined yearly, and therefore:
rate = 0.23 ÷ 365 = 0.00063
Finally, the expression to calculate the interest could be:
interest = ADB × rate × days in the billing cycle
or else:
<span>interest = ADB × APR ÷ 365 × days in the billing cycle
In your case:
interest = 1624 </span>× 0.23 ÷ 365 × 30
= 30.70 $
A will be 7 x 5
B will be 10x10
<8 * (-7), 8 * (-2)>
<-56, -16>
Hope it helps, good work!
