Answer:
- payment: $413.93
- total repaid: $74,507.40
- interest: $22,507.40
Step-by-step explanation:
(a) The monthly payment A on principal P at monthly rate r for n months can be computed using ...
A = Pr/(1 -(1+r)^-n)
For P=$52000, r = .051/12 = 0.00425, n = 12*15 = 180, the payment is ...
A = $52000·0.00425/(1 -1.00425^-180) ≈ $413.93
(b) The total of 180 payments is ...
180 · $413.93 = $74,507.40
(c) The difference from the principal is the interest paid:
$74,507.40 -52,000 = $22,507.40
First, I would create a number line that includes the number -4 to 4, with 1/4 notches (3 notches between each number).
For 3, I would count 3 numbers to the right from zero.
For 2.25, I would count 2 numbers from zero, plus one additional notch to the right. Remember that each notch represents 1/4, or 0.25.
For the opposite of 4, I would count 4 to the left to -4. The opposite of 4 is -4.
For -(-1 1/2), I would remember that this number is actually 1 1/2, since a negative times a negative number is positive. I would count one number to the right of zero, plus two notches.
Answer:
[300.202 , 329.798]
Step-by-step explanation:
The 95% confidence interval is given by the interval
![\large [\bar x-t^*\frac{s}{\sqrt n}, \bar x+t^*\frac{s}{\sqrt n}]](https://tex.z-dn.net/?f=%5Clarge%20%5B%5Cbar%20x-t%5E%2A%5Cfrac%7Bs%7D%7B%5Csqrt%20n%7D%2C%20%5Cbar%20x%2Bt%5E%2A%5Cfrac%7Bs%7D%7B%5Csqrt%20n%7D%5D)
where
<em>is the sample mean </em>
<em>s is the sample standard deviation </em>
<em>n is the sample size (n = 7) </em>
is the 0.05 (5%) upper critical value for the Student's t-distribution with 6 degrees of freedom (sample size -1), which is <em>an approximation to the Normal distribution for small samples (n<30).</em>
Either by using a table or the computer, we find
and our 95% confidence interval is
![\large [315-2.447*\frac{16}{\sqrt{7}}, 315+2.447*\frac{16}{\sqrt{7}}]=\boxed{[300.202,329.798]}](https://tex.z-dn.net/?f=%5Clarge%20%5B315-2.447%2A%5Cfrac%7B16%7D%7B%5Csqrt%7B7%7D%7D%2C%20315%2B2.447%2A%5Cfrac%7B16%7D%7B%5Csqrt%7B7%7D%7D%5D%3D%5Cboxed%7B%5B300.202%2C329.798%5D%7D)
Answer:
what is the following
Step-by-step explanation:
