The balance is $145 but after one makes he minimum payment of $20, there is $125 left to pay. However interest is added before the next month’s bill is generated.
Remember that percent means out of 100. 1.5% means 1.5/100 = .015
To find 1.5% of 125 we multiply (.015)(125) = 1.875 But as this is money the interest is rounded to two decimal places and so is $1.88
We add this to 125 to get next month’s balance which is 125 + 1.88 = $126.88
Answer:
864.36 boxes
Step-by-step explanation:
In the question above, we are given the following values,
Confidence interval 95%
Since we know the confidence interval, we can find the score.
Z score = 1.96
σ , Standards deviation = 15mm
Margin of error = 1 mm
The formula to use to solve the above question is given as:
No of boxes =[ (z score × standard deviation)/ margin of error]²
No of boxes = [(1.96 × 15)/1]²
= 864.36 boxes
Based on the options above, we can round it up to 97 boxes.