Answer:
You can use a calculator for the decimal operations, but practice some by hand because on the quiz and the test you will not have a calculator.
Step-by-step explanation:
Answer:
0.42 is closest to the proportion of customer purchase amounts between $14.00 and $16.00
Step-by-step explanation:
Mean = 
Standard deviation = 
We are supposed to find the proportion of customer purchase amounts between $14.00 and $16.00
P(14<x<16)
Formula : 
At x = 14


Refer the z table for p value
P(x<14)=0.1922
At x = 16


Refer the z table for p value
P(x<16)=0.6141
P(14<x<16)=P(x<16)-P(x<14)=0.6141-0.1922=0.42
So, Option C is true
Hence 0.42 is closest to the proportion of customer purchase amounts between $14.00 and $16.00
Divide the APR by 360 days and multiply it by 30 days to get the monthly interest. Each loan is usually secured by the car you bought. So we will use the secured APR.
8. Average rating secured apr: 5.85% divide by 360 multiply by 30: 0.4875% monthly rate
Cost of car: 19,725 ; sales tax: 4.75% ; down payment: 2,175
19,725 x 1.0475 = 20,661.94 - 2,175 = 18,486.94 loan amount
18,486.94 x 0.4875% = 90.12 accrued interest for the 1st month.
9. Excellent rating secured apr: 4.80% divide by 360 multiply by 30: 0.40% monthly rate
Cost of car: 15,867 ; sales tax: 5.25% ; down payment: 10% of total cost
15,867 x 1.0525 = 16,700.02 x 90% = 15,030.02 the principal balance at the start of the loan.
10. Fair rating secured apr: 7% divide by 360 multiply by 30: 0.5833% monthly rate
Cost of new car: 19,072 ; sales tax: 4.5% ; down payment: 1,200
Cost of used car: 15,365; sales tax: 4.5% ; down payment: 1,200
19,072 x 1.045 = 19,930.24 - 1,200 = 18,730.24
18,730.24 x 0.5833% = 109.25 accrued interest
15,365 x 1.045 = 16,056.43 - 1,200 = 14,856.43
14,856.43 x 0.5833% = 86.66 accrued interest
109.25 - 86.66 = 22.59 is the difference in interest accrued by the end of the first month.