Application 11. Dasha took out a loan of $500 in oeder to buy the # 1 selling book in the world, "Math, What is it Good For?" by
1 answer:
Answer:
Step-by-step explanation:
The formula for the total accrued amount is
A = P(1 + rt)
Data:
P = $500
r = 6.5 % = 0.065
t = 30 mo
Calculations:
(a) Convert months to years
t = 30 mo × (1 yr/12 mo) = 2.5 yr
(b) Calculate the accrued amount
A = 500(1 + 0.065 × 2.5)
= 500(1 + 0.1625)
= 500 × 1.1625
= 581.25
(c) Calculate the accumulated interest
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Answer:
Step-by-step explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
Middle 85%.
Values of X when Z has a pvalue of 0.5 - 0.85/2 = 0.075 to 0.5 + 0.85/2 = 0.925
Above the interval (8,14)
This means that when Z has a pvalue of 0.075, X = 8. So when . So
Also, when X = 14, Z has a pvalue of 0.925, so when
Replacing in the first equation
Standard deviation: