Answer: A. - 2.215
Step-by-step explanation:
• A residual is the difference between the actual value and the predicted value in a regression model. It represents the vertical distance from the actual point to the point on the regression line.
Hence, the residual in this case = -2.215
Answer:
$49,126.87
Step-by-step explanation:
Given data
Principal= $33,000
rate= 6.75%
Time= 6 years
First, convert R as a percent to r as a decimal
r = R/100
r = 6.65/100
r = 0.0665 rate per year,
Then solve the equation for A
A = P(1 + r/n)^nt
A = 33,000.00(1 + 0.0665/12)^(12)(6)
A = 33,000.00(1 + 0.005541667)^(72)
A = $49,126.87
Hence the final amount is $49,126.87
Answer:
$6,506.51
Step-by-step explanation:
Recall that increasing an amount C in x% is equivalent to multiply it by (1+x/100)
As we have 4% APR, the monthly interest would be (4/12)% = 0.04/12
<u>Month 0</u> (first payment)
$250
Month 1

<u>Month 2</u>

<u>Month 3</u>

<u>Month 24 (2 years)</u>

The sum

is the sum of the first 24 terms of a geometric sequence with common ratio
which is

so, after 2 years the saving balance is
250*26.02603071 = 6,506.50767= $6,506.51 rounded to the nearest cent.
Answer:
87.5
Step-by-step explanation:
-2