You have just take out a 30-year, $120,000 mortgage on your new home. This mortgage is to be repaid in 360 equal end-of-month installments. If each of the monthly installments is $1,500, what is the effective annual interest rate on this mortgage?

A) 15.87%
B) 14.75%
C) 13.38%
D) 16.25%
E) 16.49%

A

Business

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An advertising company wishes to estimate the mean household income for all single working professionals who own a foreign automobile

If the advertising company wants a 90% confidence interval estimate with a margin of error of ±$2,500, what sample size is needed if the population standard deviation is known to be $27,500?A) 156 B) 328 C) 251 D) 415

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