A student receives a student loan for $8,000 at 5.5 % interest compounded monthly to help her finish the last 1.5 years of college. Starting 1 year after finishing college, the student must amortize the loan in the next 5 years by making equal monthly payments. What will the payments be and what total interest will the student pay?
A student receives a student loan for $8,000 at 5.5 % interest compounded monthly to help her finish the last 1.5 years of college. Starting 1 year after finishing college, the student must amortize the loan in the next 5 years by making equal monthly payments. What will the payments be and what total interest will the student pay?
Solution Summary: The author calculates the amount to be paid after 5 years using the formula for A=P(1+i)n.
A student receives a student loan for
$8,000
at
5.5
%
interest compounded monthly to help her finish the last
1.5
years of college. Starting
1
year after finishing college, the student must amortize the loan in the next
5
years by making equal monthly payments. What will the payments be and what total interest will the student pay?
Determine the number of automorphisms of the following graph. Explain why your
answer is correct.
Find the bisector of the angle <ABC in the Poincaré plane, where A=(0,5), B=(0,3) and C=(2,\sqrt{21})
The masses measured on a population of 100 animals were grouped in the
following table, after being recorded to the nearest gram
Mass
89 90-109 110-129 130-149 150-169 170-189 > 190
Frequency 3
7 34
43
10
2
1
You are given that the sample mean of the data is 131.5 and the sample
standard deviation is 20.0. Test the hypothesis that the distribution of masses
follows a normal distribution at the 5% significance level.
Chapter 3 Solutions
Finite Mathematics for Business, Economics, Life Sciences, and Social Sciences (14th Edition)
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