ALGEBRA FOUNDATIONS PREALG.>NASTA ED.<
17th Edition
ISBN: 9780134650111
Author: Martin-Gay
Publisher: PEARSON
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Question
Chapter 12.2, Problem 118ES
To determine
Toperform:the indicated operation.
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Week 3: Mortgages and Amortiza X
+
rses/167748/assignments/5379530?module_item_id=23896312
11:59pm
Points 10
Submitting an external tool
Gider the following monthly amortization schedule:
Payment # Payment Interest
Debt Payment
Balance
1
1,167.34 540.54
626.80
259,873.20
2
1,167.34 539.24
628.10
259,245.10
3
1,167.34
With the exception of column one, all amounts are in dollars. Calculate the annual interest rate on this loa
Round your answer to the nearest hundredth of a percent.
Do NOT round until you calculate the final answer.
* Previous
a
E
Café Michigan's manager, Gary Stark, suspects that demand for mocha latte coffees depends on the price being charged. Based on historical observations, Gary has gathered the following data, which show the numbers of these coffees sold over six different price values:
Price
Number Sold
$2.70
765
$3.50
515
$2.00
990
$4.30
240
$3.10
325
$4.00
475
Using simple linear regression and given that the price per cup is $1.85, the forecasted demand for mocha latte coffees will be
cups (enter your response rounded to one decimal place).
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