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Misha Larkins [42]
3 years ago
9

Use the constant ratio formula to find the approximate annual percentage rate to the nearest tenth of a percent for a $2000 loan

repaid in 12 payments with an interest charge of $180
Mathematics
1 answer:
prisoha [69]3 years ago
8 0

Answer:

  16.6%

Step-by-step explanation:

The constant ratio formula tells you the amount of total interest is ...

  I = Br(n+1)/(2m)

where B is the loan amount, r is the approximate APR, n is the number of payments, m is the number of payments per year.

Filling in the given values and solving for r, we get ...

  180 = 2000r(12 +1)/(2·12)

  180 = 26000r/24

  r = 180·24/26000 ≈ 0.16615 ≈ 16.6%

The approximate annual percentage rate is 16.6%.

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Kevin made 4 of his 6 shots on goal at soccer practice.
mafiozo [28]

Answer:

48

Step-by-step explanation:

4/6 = 2/3

2/3 times 72 = 48

8 0
2 years ago
The percentage of body fat of a random sample of 36 men aged 20 to 29 found a sample mean of 14.42. Find a 95% confidence interv
Rina8888 [55]

Answer:

14.42-1.96\frac{6.95}{\sqrt{36}}=12.150    

14.42+ 1.96\frac{6.95}{\sqrt{36}}=16.690    

So on this case the 95% confidence interval would be given by (12.150;16.690)    

Step-by-step explanation:

Previous concepts

A confidence interval is "a range of values that’s likely to include a population value with a certain degree of confidence. It is often expressed a % whereby a population means lies between an upper and lower interval".

The margin of error is the range of values below and above the sample statistic in a confidence interval.

Normal distribution, is a "probability distribution that is symmetric about the mean, showing that data near the mean are more frequent in occurrence than data far from the mean".

\bar X=14.42 represent the sample mean

\mu population mean (variable of interest)

\sigma=6.95 represent the population standard deviation

n=36 represent the sample size  

Solution to the problem

The confidence interval for the mean is given by the following formula:

\bar X \pm z_{\alpha/2}\frac{\sigma}{\sqrt{n}}   (1)

Since the Confidence is 0.95 or 95%, the value of \alpha=0.05 and \alpha/2 =0.025, and we can use excel, a calculator or a table to find the critical value. The excel command would be: "=-NORM.INV(0.025,0,1)".And we see that z_{\alpha/2}=1.96

Now we have everything in order to replace into formula (1):

14.42-1.96\frac{6.95}{\sqrt{36}}=12.150    

14.42+ 1.96\frac{6.95}{\sqrt{36}}=16.690    

So on this case the 95% confidence interval would be given by (12.150;16.690)    

5 0
3 years ago
Which number line below correctly represents the expression -3 + 4?
Archy [21]

Answer:

1st answer

Step-by-step explanation:

First you subrtract 3 from 0 then add 4 to -3

8 0
3 years ago
In a triangle, the largest angle is always opposite the (Blank) and the smallest angle is always opposite the (Blank) .
Shtirlitz [24]

Answer:

the largest angle is opposite the largest side and the shortest angle is opposite the shortest side

Step-by-step explanation:

7 0
3 years ago
2x-y+z=9 x+y-2z=-1 -x+2y+2z=-5
slega [8]
X=3
Y=-2
Z=1

Hope this helps.

3 0
3 years ago
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