How do I do #5? I don’t really get it
2 answers:
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Answer:
Standard score z=0.07
Step-by-step explanation:
The z-score, or standard score, represents an equivalent value for X but in the standard normal distribution, where μ=0 and σ=1.
For X=28.3 in a normal distribution with μ=26.3 and σ=28.1, the standard score can be calculated as:
This value is 0.07 standard deviations right to the mean.
In the picture attached, we have located the z-score.
Answer:
a.) 1908.30
b.) 96373.15
c.)302491.15
unrounded answers below
Step-by-step explanation:
The amount that is to be loaned out is 380000-110000=270000
The effective montly rate is .07/12=.005833333
a.)
b.)
use what is called the prospective method (the outstanding loan balance at time n is equal to the present value of the remaining payments)
c.)
total paid= 1908.303833*12*25=572491.1499
amount of loan: 270000
Total interest paid:
572491.1499-270000=302491.1499