Answer:
B. 10 months
Step-by-step explanation:
The balance on the loan will be ...
b = 1600 - 80t . . . . . . where t is the number of months of payments
The balance in the savings account will be ...
s = 500 + 25t
The savings account balance will be at least as much as the loan balance when ...
s ≥ b
500 +25t ≥ 1600 -80t . . . substitute the account balance expressions
105t ≥ 1100 . . . . . . . . . . . . add 80t -500
t ≥ 1100/105 ≈ 10.48 ≈ 10
It will take Josh 10 months to have enough savings to pay the loan in full.
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<em>Comment on rounding</em>
IMO, it makes no sense to round down, as Josh will NOT have enough in 10 months. He will have enough after he makes one more payment of $80. At 10 months, the loan balance is $50 more than the savings balance. It will be 11 months before there is enough savings to pay off the loan.
Answer:
Low risk and moderate growth.
Step-by-step explanation:
A balanced fund (sometimes known as hybrid funds) are much better that equity as the risk in equity are much higher than a balanced fund.
A balanced fund is a combination of equity and bond investment, where bonds give risk free income and equity is with high risk. The combination of those two lowers the risk but gives a moderate income better than bonds.
Therefore, balanced funds gives low risk and moderate growth. (Answer)
Answer:
98.76 x
Step-by-step explanation:
cuz im the not smart
Answer:
c. 0.778 < p < 0.883.
Step-by-step explanation:
The formula for confidence interval for proportion =
p ± z score × √p(1 - p)/n
p = x/n
n = 195, x = 162
z score for 95% confidence Interval = 1.96
p = 162/195
p = 0.8307692308
p ≈ approximately equal to = 0.8308
0.8308 ± 1.96 × √0.8308 × (1 - 0.8308)/195
0.8308 ± 1.96 ×√0.8308 × 0.1692/195
0.8308 ± 1.96 × √0.0007208788
0.8308 ± 1.96 × 0.0268491862
0.8308 ± 0.052624405
Confidence Interval
= 0.8308 - 0.052624405
= 0.778175595
Approximately = 0.778
= 0.8308 + 0.052624405
= 0.883424405
Approximately = p
0.883
Therefore, the confidence interval for this proportion = (0.778, 0.883) or option c. 0.778 < p < 0.883