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Agata [3.3K]
3 years ago
13

Kaylee opened an account with a deposit of $800. The bank pays 4% annual simple interest on this account. Kaylee makes no additi

onal deposits or withdrawals. How much interest will the account have earned at the end of 6 years? *
Mathematics
1 answer:
Snowcat [4.5K]3 years ago
6 0

Answer: the amount of interest that she would earn is $192.

Step-by-step explanation:

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

I = PRT/100

Where

I represents interest paid on the amount of money deposited.

P represents the principal or amount of money deposited.

R represents interest rate on the deposit.

T represents the duration of the deposit in years.

From the information given,

P = $800

R = 4%

T = 6 years

Therefore,

I = (800 × 4 × 6)/100

I = $192

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Answer:

Step-by-step explanation:

We would set up the hypothesis test. This is a test of a single population mean since we are dealing with mean

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This is a right tailed test.

Since the population standard deviation is not given, the distribution is a student's t.

Since n = 100,

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t = (27524 - 25235)/(6000/√100) = 3.815

We would determine the p value using the t test calculator. It becomes

p = 0.000119

Since alpha, 0.05 > than the p value, 0.000119, then we would reject the null hypothesis. There is sufficient evidence to support the claim that student-loan debt is higher than $25,235 in her area.

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2 years ago
Are these two claims equivalent, in conflict, or not comparable because they're talking about different things?
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<h3>What are markup and margin?</h3>

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The profit margin relates the percentage of profit to the selling price.

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Cost price = 75% (100% - 25%)

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Thus, these two claims about markup and margin are <u>equivalent</u>.

Learn more about margin and markup at brainly.com/question/13248184

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