Help me with this plz

Austin qualified for a $30,000 loan with 7.49% interest in order to buy a new ski boat. The term of his loan is 10 years and his

sertanlavr [38]

Answer:

$12,714

Step-by-step explanation:

Loan Amount=$30,000

Monthly Payment =$355.95.

Number of Payment Period = 10 Years X 12 Months =120 Months

Total Payment to be made by Austin =120 X 355.95=$42,714

Therefore:

The interest Austin will pay=Total Payment-Loan Amount

=$42,714-30,000

=$12,714

7 0

2 years ago

andrezito [222]

Answer:

a) 0.27% probability that the mean is less than 1995 milliliters.

b) 2002.3 milliliters or more will occur only 10% of the time for the sample of 100 bottles.

Step-by-step explanation:

To solve this problem, it is important to understand the normal probability distribution and the central limit theorem

Normal probability distribution

Problems of normally distributed samples are solved using the z-score formula.

In a set with mean $\mu$ and standard deviation $\sigma$ , the zscore of a measure X is given by:

$Z = \frac{X - \mu}{\sigma}$

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.

Central Limit theorem

The Central Limit Theorem estabilishes that, for a random variable X, with mean $\mu$ and standard deviation $\sigma$ , a large sample size can be approximated to a normal distribution with mean $\mu$ and standard deviation $s = \frac{\sigma}{\sqrt{n}}$