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3 years ago

5

Devon’s mother borrowed $4,000 to have some repairs done on the house. The bank is charging 9% simple annual interest on the loa

n. How much interest will Devon’s mother owe at the end of 3 years?

2 answers:

krek1111 [17]3 years ago

8 0

Answer:

i guessed and got it correct. The answer is 1,080 it is correct i promise

Step-by-step explanation:

aksik [14]3 years ago

3 0

Does anyone know the answer

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Answer:

We know that n = 50 and p =0.78.

We need to check the conditions in order to use the normal approximation.

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Since both conditions are satisfied we can use the normal approximation and the distribution for the proportion is given by:

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With the following parameters:

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Step-by-step explanation:

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Solution to the problem

We know that n = 50 and p =0.78.

We need to check the conditions in order to use the normal approximation.

$np=50*0.78=39 \geq 10$

$n(1-p)=50*(1-0.78)=11 \geq 10$

Since both conditions are satisfied we can use the normal approximation and the distribution for the proportion is given by:

$p \sim N (p, \sqrt{\frac{p(1-p)}{n}})$

With the following parameters:

$\mu_ p = 0.78$

$\sigma_p = \sqrt{\frac{0.78*(1-0.78)}{50}}= 0.0586$

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