Choose the correct answers. Karla Kaufmann borrowed $750 at 12 percent for one year. She paid a $20 processing fee. The interest
2 answers:
<h2>Answer:</h2>
Interest paid is $90.
Total finance charge is $110.
APR is 14.7%
<h2>Step-by-step explanation:</h2>Karla Kaufmann borrowed $750 at 12 percent for one year.
She paid a $20 processing fee.
Thus the interest paid is = dollars
And the total finance charge (the interest plus the processing fee) will be=
dollars
Also, to the nearest tenth, the APR is :
≈ 14.7%
You might be interested in
Answer:
test statistic (Z) is 2.5767 and p-value of the test is .009975
Step-by-step explanation:
: percentage of students who smoke did not change
: percentage of students who smoke has changed
z-statistic for the sample proportion can be calculated as follows:
z= where
- p(s) is the sample proportion of smoking students (
=0.25)
- p is the proportion of smoking students in the survey conducted five years ago (18% or 0.18)
- N is the sample size (200)
Then, z= ≈ 2.5767
What is being surveyed is if the percentage of students who smoke has changed over the last five years, therefore we need to seek two tailed p-value, which is .009975.
This p value is significant at 99% confidence level. Since .009975 <α/2=0.005, there is significant evidence that the percentage of students who smoke has changed over the last five years