Antonio has just graduated from four years of college. For the last two years, he took out a Stafford loan to pay for his tuitio
n.
Each loan had a duration of ten years and interest compounded monthly. Antonio will pay each of them back by making
monthly payments, starting as he graduates. Antonio's loans are detailed in the table below.
Subsidized?
Year
Junior
Senior
Loan Amount ($)
5,894
5,258
Interest Rate (%)
6.9
7.5
Once all of his loans are paid off, what will Antonio's total lifetime cost be? Round all dollar values to the nearest bent.
a $16,246.80
b. $17,804.40
c. $7,593.16
d $9,874.76
Each loan had a duration of ten years and interest compounded monthly. Antonio will pay each of them back by making
monthly payments, starting as he graduates. Antonio's loans are detailed in the table below.
Subsidized?
Year
Junior
Senior
Loan Amount ($)
5,894
5,258
Interest Rate (%)
6.9
7.5
Once all of his loans are paid off, what will Antonio's total lifetime cost be? Round all dollar values to the nearest bent.
a $16,246.80
b. $17,804.40
c. $7,593.16
d $9,874.76
2 answers:
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Answer:
answer is
Step-by-step explanation:
After working this way for 6 months he takes a simple random sample of 15 days. He records how long he walked that day (in hours) as recorded by his fitness watch as well as his billable hours for that day as recorded by a work app on his computer.
Slope is -0.245
Sample size n = 15
Standard error is 0.205
Confidence level 95
Sognificance level is (100 - 95)% = 0.05
Degree of freedom is n -2 = 15 -2 = 13
Critical Value =2.16 = [using excel = TINV (0.05, 13)]
Marginal Error = Critical Value * standard error
= 2.16 * 0.205
= 0.4428
Answer:
95% confidence interval for the mean credit hours taken by a student each quarter is [14.915 hours , 15.485 hours].
Step-by-step explanation:
We are given that a random sample of 250 students at a university finds that these students take a mean of 15.2 credit hours per quarter with a standard deviation of 2.3 credit hours.
Firstly, the pivotal quantity for 95% confidence interval for the population mean is given by;
P.Q. = ~
where, = sample credit hours per quarter = 15.2 credit hours
s = sample standard deviation = 2.3 credit hours
n = sample of students = 250
= population mean credit hours per quarter
<em>Here for constructing 95% confidence interval we have used One-sample t test statistics as we know don't about population standard deviation.</em>
So, 95% confidence interval for the population mean, is ;
P(-1.96 < < 1.96) = 0.95 {As the critical value of t at 249 degree of
freedom are -1.96 & 1.96 with P = 2.5%}
P(-1.96 < < 1.96) = 0.95
P( <
<
) = 0.95
P( <
<
) = 0.95
<u><em>95% confidence interval for</em></u> = [
,
]
= [ ,
]
= [14.915 hours , 15.485 hours]
Therefore, 95% confidence interval for the mean credit hours taken by a student each quarter is [14.915 hours , 15.485 hours].
<em>The interpretation of the above confidence interval is that we are 95% confident that the true mean credit hours taken by a student each quarter will be between 14.915 credit hours and 15.485 credit hours.</em>
Answer:
here's the solution :-
Step-by-step explanation:
i hope it helped...
