Please answer correctly
2 answers:
You might be interested in
Answer:
A. Increase sample size
Step-by-step explanation:
From the formula for estimating the confidence level interval for the mean:
X - Z × s/sqrt n where; X = sample mean; Z = z value corresponding to 95%;
s = standard deviation and n = sample size
It is evident from the equation that the confidence interval for the mean is inversely proportional to the sample size (n), hence increasing the sample size will result in a reduced interval width.
Answer:
The answer to the question is
The total principles + interest payment is $64,854.00
Step-by-step explanation:
To solve the question, we not that
Home mortgage value = $58000
Interest rate, r = 7.4 % annually = 7.4/12 % monthly or 0.62 % monthly
Duration of payment = 3 years = 3 × 12 =36 months
Monthly payment is given by
=
= $1,801.5
Cumulative interest payed is given by
M×n - P = 1801.5 × 36 - P =$6, 854
Total principles + interest payment = M × n = $64,854.00