If you borrowed $100, then your monthly payment is $2.44
If you borrowed $200, then your monthly payment is 2*2.44 = 4.88
etc etc
We can set up a proportion
2.44/100 = x/13300
to figure out the monthly payment x. Cross multiply and solve for x
2.44*13300 = 100*x
100x = 2.44*13300
100x = 32452
x = 32452/100
x = 324.52
So the monthly payment is $324.52
An alternative way to get this monthly payment is to apply 2.44% to 13300, which is another way to view the phrase "monthly payment per $100 is 2.44"
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There are 48 months in 4 years (start with 12 mon = 1 yr, then multiply both sides by 4) so we multiply 48 by the monthly payment to get the result 48*324.52 = 15,576.96. This is the total amount you have to pay back which is the principal plus interest.
Subtract off the principal (amount borrowed) to find the interest or finance charge: 15,576.96 - 13,300 = 2,276.96
Answer: Choice B
Answer:
subtract 5
Step-by-step explanation:
Like in real life problems?
if yes then when conducting a survey, when grading quizzes/assignments, etc
Answer:
Step-by-step explanation:
Type I error occurs if the null hypothesis is rejected when in the real sense, it is actually true.
Type II error occurs if the null hypothesis is not rejected when in the real sense, it is actually false.
The null hypothesis is
H0: μ = 9.6 hours
The alternative hypothesis is
Ha: μ > 9.6
Suppose that the results of the sample lead to non rejection of the null hypothesis if in fact the mean running time has increased it means that
a) the conclusion is a type I error because the null hypothesis was of rejected even though it was false
First you divide 1 by 8 and you get 0.125. Then you multiply 0.125 by 16048.
0.125x16048=2006