Answer:
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Step-by-step explanation:
Answer:
25 months
Step-by-step explanation:
We can use the amortization formula to solve for t.
That formula tells you the monthly payment as a function of interest rate (r=.14), compounding periods per year (n=12), principal borrowed (P=4200), and number of years (t). Using the given values, we have ...
200 = 4200(r/n)/(1 -(1 +r/n)^(-nt))
1 -(1 +r/n)^(-nt) = 4200(r/n)/200
1 -21r/n = (1 +r/n)^(-nt)
log(1 -21r/n) = -nt·log(1 +r/n)
-log(1 -21r/n)/log(1 +r/n) = nt . . . . . . the number of months we want
-log(1 -21(0.14)/12)/log(1 +0.14/12) = nt = 24.23
It will take Daisy about 25 months to pay of her credit card.
Answer:
77
Step-by-step explanation:
Answer:
a) The 95% confidence interval for the mean waste recycled per person per day for the population of Maine is between 1.19 and 1.61 pounds.
b)
Step-by-step explanation:
We have the standard deviation for the sample, which means that the t-distribution is used to solve this question.
The first step to solve this problem is finding how many degrees of freedom, we have. This is the sample size subtracted by 1. So
df = 7 - 1 = 6
95% confidence interval
Now, we have to find a value of T, which is found looking at the t table, with 6 degrees of freedom(y-axis) and a confidence level of . So we have T = 2.4469, and the answer to question b is
The margin of error is:
In which s is the standard deviation of the sample and n is the size of the sample.
The lower end of the interval is the sample mean subtracted by M. So it is 1.4 - 0.21 = 1.19 pounds.
The upper end of the interval is the sample mean added to M. So it is 1.4 + 0.21 = 1.61 pounds.
The 95% confidence interval for the mean waste recycled per person per day for the population of Maine is between 1.19 and 1.61 pounds.