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Mrrafil [7]
3 years ago
13

Find the simple interest for a $3000 loan for 3 years at a rate of 5% (Formula: I=Prt)​

Mathematics
2 answers:
stiks02 [169]3 years ago
8 0

Answer:

$450

Step-by-step explanation:

Interest= 3000(5%)(3)= $450

Common mistake: Do not use 36 as the time period. Only use the number of years, it the number of months.

Verizon [17]3 years ago
6 0

To answer this, you use the formula I = Prt where

    I is the simple interest that builds

    P is the principal (AKA the amount invested/borrowed)

    r is the interest rate per year

    t is the lenght of the loan, in years.

In your situation:

    \begin{aligned}I &= (\$3000)(5 \%/\text{year})(3 \text{ years})\\[0.5em]&= (3000)(0.05)(3)\\[0.5em]&= 450\end{aligned}

This means there'd be $450 of simple interest due at the end of 3 years.

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Eric is studying people's typing habits. He surveyed 525 people and asked whether they leave one space or two spaces after a per
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Answer: (0.8115, 0.8645)

Step-by-step explanation:

Let p be the proportion of people who leave one space after a period.

Given:  Sample size : n= 525

Number of people responded that they leave one space. =440

i.e. sample proportion: \hat{p}=\dfrac{440}{525}\approx0.838

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Formula to find the confidence interval :

\hat{p}\pm z^*\sqrt{\dfrac{\hat{p}(1-\hat{p})}{n}}

0.838\pm (1.645)\sqrt{\dfrac{0.838(1-0.838)}{525}}\\\\=0.838\pm (1.645)\sqrt{0.00025858285}\\\\=0.838\pm (1.645)(0.01608)\\\\= 0.838\pm0.0265\\\\=(0.838-0.0265,\ 0.838+0.0265)\\\\=(0.8115,\ 0.8645)

Hence, a 90% confidence interval for the proportion of people who leave one space after a period: (0.8115, 0.8645)

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