A Loan with a Fixed Rate of Interest That Will

question 2

Short Answer

A loan with a fixed rate of interest that will be repaid with regular payments over two or more years is called a(n) ____________________.

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Definitions:

Proportions

Statistical measures that indicate the relative size of one part compared to another part or to the whole.

One-tail Test

A statistical test that determines the significance of one end (tail) of the data distribution, often used to test a directional hypothesis.

Population Proportion

The fraction or percentage of the population that shares a particular characteristic or attribute.

Chi-squared Goodness-of-fit

A specific type of goodness-of-fit test that uses the chi-squared statistic to test the hypothesis that an observed frequency distribution fits a claimed distribution.