Solve the Problem. -Hannah Borrowed $45,338 at 4.5% Simple Interest for 22 Months

question 260

Multiple Choice

Solve the problem.
-Hannah borrowed $45,338 at 4.5% simple interest for 22 months. How much will the interest amount to? What is the total amount that she will have to pay back at the end of 22 months?
Round answers to the nearest cent if necessary.

• A) $3570.37; $48,908.37
• B) $3771.82; $49,109.82
• C) $3740.39; $49,078.39
• D) $3910.40; $49,248.40

Comprehend the definition and importance of the sampling distribution of the mean.

Grasp the concepts of modality, symmetry, and variability within the context of sampling distributions.

Understand the central limit theorem and its implications for inferential statistics.

Clarify the roles of hypotheses in statistical testing, including null and alternative hypotheses.

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Definitions:

Total Profits

The net income a company generates after paying all expenses, taxes, and costs, calculated by subtracting total costs from total revenues.

Entry Restrictions

Regulations or barriers that limit the ability of new competitors to enter and operate in a particular market.

Revenue Function

A mathematical representation that calculates the total revenue generated from the sale of goods or services at different prices.

Total Profits

The overall financial gain made by a business after subtracting total costs from total revenues, indicating the business's financial health over a period.