debt payments of $800 due now and $1400 due in 5 months are to be repaid by a payment of $1000 in 3 months and a final payment i
1 answer:
Answer:
$1,304.70
Step-by-step explanation:
If interest 6% annually, monthly is 0.5%.
The debt in 5 months will be 800 plus compounded interest for 5 months plus new due debt
In 3 more months the debt will be 2220.201 plus compounded interest for 3 months minus payment
After 8 months the debt would be 1253.67 plus compounded interest for 8 months
Then the size of the final payment would be $1,304.70
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Answer:
z=3.8196
Step-by-step explanation:
-We notice that this is a normal distribution problem.
-Given the mean is $8500, standard deviation is $1200 , and n=350, the critical z-value using alpha=0.05 is calculated as:
Hence, the test statitic is z=3.8196
Answer:
7 feet
Step-by-step explanation:
Length of one piece of string = 28 feet.
Length of the second string = 42 feet.
Since the number of required pieces was not given but many are required, the greatest length can be determined by;
If the maximum length is 7 feet, then:
the number of pieces from 28 feet long string =
= 4
Also,
the number of pieces from the 42 feet lone string =
= 6
Total number of 7 feet strings that she can make = 4 + 6
= 10
Since many pieces are required, the greatest length she can make is 7 feet. If she increase the length to 14 feet, the number of pieces would be 5 which limit the required number.