Determining confidence interval evaluate for average number

Reference no: EM1323298

Q1) What is the amount of monthly payment required for sinking fund to reach $50,000 with 7.9% compounded quarterly for 2.5 years?

i) $4,242.68

ii) $3,781.43

iii) $4,571.55

iv) $4,000.00

Q2) What is the payment required to amortize loan of $5500 at 12.5% compounded monthly for 24 payments?

i) $3,125.00

ii) $260.19

iii) $1,375.00

iv) $557.52

Q4) Car dealership is advertising sale which offers 0% financing for 60 months or cash back of $3500 on a certain car. If the car is selling for $31,500 what are the payments for the 0% financing option and what are the payments for the cash back option if you receive 5.5% financing for the same 60 months.

i) 0% - $525.00, 5.5% - $437.33

ii) 0% - $525.00, 5.5% - $534.83

iii) 0% - $6,300.00, 5.5% - $734.835

iv) 0% - $525.00, 5.5% - $601.72

Q5) Lawyer researched average number of years served by 45 different justices on Supreme Court. Average number of years served was 13.8 years with standard deviation of 7.3 years. Determine 95% confidence interval evaluate for average number of years served by all Supreme Court justices?

Reference no: EM1323298

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