He actually borrowed P=21349-3000=18349 (present value)
Assume the monthly interest is i.
then future value due to loan:
F1=P(1+i)^n=18349(1+i)^(5*12)=18349(1+i)^60
future value from monthly payment of A=352
F2=A((1+i)^n-1)/i=352((1+i)^60-1)/i
Since F1=F2 for the same loan, we have
18349(1+i)^60=352((1+i)^60-1)/i
Simplify notation by defining R=1+i, then
18349(R^60)-352(R^60-1)/(R-1)=0
Simplify further by multiplication by (R-1)
f(R)=18349*R^60*(R-1)-352(R^60-1)=0
Solve for R by trial and error, or by iteration to get R=1.004732
The APR is therefore
12*(1.004732-1)=0.056784, or 5.678% approx.
Answer:
An independent sample.
Step-by-step explanation:
In this scenario, to compare the production techniques used by foreign and local firms in Brazil, a random sample of 80 foreign firms and a random sample of 80 local firms are selected. We can safely conclude that this study uses an independent sample design.
An independent sample design can be defined as a research method that usually involves the use of multiple experimental groups (two or more). The samples or participants are only in one group and as such each group has no relationship with the other. This simply means that, the samples in a particular group is having no relationship with the other samples in another group.
Ultimately this implies, each samples are independent and satisfies only one condition of the independent sample design during the experiment to compare the production technique used by foreign and local firms in Brazil.
<em>Hence, the researcher would use only two variables or conditions: a random sample of 80 foreign firms and a random sample of 80 local firms are selected.</em>
