6. A principal of $1600 is invested at 8.25% interest, compounded annually. How much will the investment be worth after 11 years? round your answer to the nearest dollar.
6. A principal of $1600 is invested at 8.25% interest, compounded annually. How much will the investment be worth after 11 years?
round your answer to the nearest dollar.
17. Heather borrowed $400 from a lender that charged simple interest at an annual rate of 7%. When Heather paid off the loan, she paid $84 in interest. How long was the loan for, in years?
32. Students at a major university in Southern California are complaining of a serious housing crunch. According to many of these students, they have to commute too far to school, and so university officials should build more housing near campus. In response, the officials studied the commute distance (in miles) of 77 students at the university and published the following frequency distribution in the school paper.
| Commute distance (in miles) |
Frequency |
|---|---|
|
1 to 5
|
22
|
|
6 to 10
|
22
|
|
11 to 15
|
16
|
|
16 to 20
|
8
|
|
21 to 25
|
6
|
|
26 to 30
|
3
|
Based on the frequency distribution, using the midpoint of each data class, estimate the mean commute distance for the students, use four or more decimal places, and round your answer to one decimal place.
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