What is 7/8+(-2/3)÷5/6
1 answer:
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Answer : The duration of the loan is, 6 months
Step-by-step explanation :
First we have to determine the discounted money.
Discounted money = $850 - $800 = $50
Thus, interest = $50
Now we have to determine the time of loan.
Formula used :
where,
P = principle
R = interest rate
T = time
S.I = simple interest
Now put all the given values in the above formula, we get:
For 1 year :
For 12 months :
Thus, the duration of the loan is, 6 months
The correct answer is the first choice, ($1818.30, $5077.70.)
To find this, we first find the z-score based on the confidence level:
Convert 95% to a decimal: 95%=95/100 = 0.95
Subtract from 1: 1-0.95 = 0.05
Divide by 2: 0.05/2 = 0.025
Subtract from 1: 1-0.025 = 0.975
Using a z-table (http://www.z-table.com) we see that this value is associated with a z-score of 1.96.
Next, we identify
Next we find
Next we find
Next, we multiply this value by z:
1.96(831.479) = 1629.70
The confidence interval is given by
To find this, we first find the z-score based on the confidence level:
Convert 95% to a decimal: 95%=95/100 = 0.95
Subtract from 1: 1-0.95 = 0.05
Divide by 2: 0.05/2 = 0.025
Subtract from 1: 1-0.025 = 0.975
Using a z-table (http://www.z-table.com) we see that this value is associated with a z-score of 1.96.
Next, we identify
Next we find
Next we find
Next, we multiply this value by z:
1.96(831.479) = 1629.70
The confidence interval is given by