Ashot borrowed $225, and paid $108 as an interest of eight years. What was the annual interest rate?
2 answers:
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Answer:
The sum of the first 37 terms of the arithmetic sequence is 2997.
Step-by-step explanation:
Arithmetic sequence concepts:
The general rule of an arithmetic sequence is the following:
In which d is the common diference between each term.
We can expand the general equation to find the nth term from the first, by the following equation:
The sum of the first n terms of an arithmetic sequence is given by:
In this question:
We want the sum of the first 37 terms, so we have to find
Then
The sum of the first 37 terms of the arithmetic sequence is 2997.
We want to find the value that makes
To find it we must look at the standard normal table, using the complementary cumulative table we find that
Then, using the z-score we can find the minimum score needed, remember that
Where
σ = standard deviation
μ = mean
And in our example, x = minimum score needed, therefore
Rounding to the nearest integer the minimum score needed is 568, if you get 568 you are at the top 20.1%.