A new employee charged $3980 on his credit card to relocate for his first job.After noticing that the interest rate for his bala
nce was 21% compounded monthly,he stopped charging on that account.his wishes to pay off his balance in 4 years using automatic payments at the end of each month.
A.what monthly payment must he make to pay off the account at the end of 4 years?
B.how much total interest will he have paid?
A.what monthly payment must he make to pay off the account at the end of 4 years?
B.how much total interest will he have paid?
1 answer:
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Answer:
Step-by-step explanation:
From the given information:
The null and the alternative hypothesis can be well written as:
Given that:
n = 200
x = 135
Alpha ∝ = 0.05 level of significance
Then;
⇒
= 200 × 0.6 × (1 -0.6)
= 200 × 0.6 × 0.4
= 48 ≥ 10
The sample proportion
= 0.675
The test statistics
Z = 2.165
The P-value = P(Z > 2.165)
= 1 - P(Z < 2.165)
From the z tables
= 1 - 0.9848
= 0.0152
Reject the null hypothesis since P-Value is lesser than alpha. ( i.e. 0.0152 < 0.05).
Thus, there is enough evidence to conclude that the value of the population proportion is greater than 0.6
Answer:
x = 4.5
Step-by-step explanation:
there's definitely other ways to solve this, but I used a proportion.
Then you can make this equation:
14x = 3.5 * 18
I solved for it and got 4.5 .