Which pair of expressions below are equivalent?
1 answer:
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Answer:
2 %
Step-by-step explanation:
Money borrowed, Principal, P = $ 700
time of investment, T = 3 years
Total interest paid, Simple interest, S.I = $ 42
Let the rate of interest is R.
Use the formula for simple interest.
By substituting the values
4200 = 2100 R
R = 2 %
Thus, the rate of interest is 2%.
The 85th percentile is the cutoff time 
such that
In other words, the 85th percentile refers to the time needed to belong to the top 15% of the distribution; more generally, the
percentile is the top 
of the distribution.
Anyway, to find this value of, transform 
to a random variable 
with the standard normal distribution using
where
is the mean of and 
is the standard deviation of .
Here
is used to denote the z-score corresponding to the cutoff time . Referring to a z-score table, you find that this occurs for 
. So,
In other words, the 85th percentile refers to the time needed to belong to the top 15% of the distribution; more generally, the
Anyway, to find this value of
where
Here