Part A:
3.14 X (4)^2 X 3/3
= 50.26548246
Answer:
Median is 18.
Mean is 22.
Step-by-step explanation:
Median has to be ordered from least to greatest:
1, 9, 17, 18, 25, 41, 43
then the median is the number in the middle, which is 18.
Mean is the sum of all the numbers, divided by 7 (because there are 7 numbers given)
25+18+9+1+43+17+41= 154
154/7 = 22
Since only the principal value, interest rate and interest period are given, we can deduce that "finance charge" only includes the interest to be paid at the end of the term. This can be obtained by subtracting the principal value from the future value which we will solve for.
The future value can be solved by using the following compound interest formula:
Let:
F = Future value
P = Principal value
r<span> = annual interest rate </span>
n<span> = number of times that interest is compounded per year</span>
t<span> = number of years</span>
F = P(1 + r/n)^nt
Substituting the given values:
F = 4250(1 + 0.1325/12)^(12*2)
F = 5531.54
Subtracting P from F:
Finance charge = 5531.54 - 4250 = 1281.54
Therefore the finance charge is $1,281.54