Compute the periodic rate and interest in the first period for a ​$2 comma 6002,600 loan with 6.56.5​% APR for the following periods.a. Monthlyb. Daily​ (use a​ non-leap year)c. Quarterly​ (4 times a​ year)d. Biweekly​ (every 2​ weeks)a. The periodic rate is nothing ____​%.​(Type an integer or decimal rounded to three decimal places as​ needed.)

Question

Compute the periodic rate and interest in the first period for a ​$2 comma 6002,600 loan with 6.56.5​% APR for the following periods.
a. Monthly
b. Daily​ (use a​ non-leap year)
c. Quarterly​ (4 times a​ year)
d. Biweekly​ (every 2​ weeks)

a. The periodic rate is nothing ____​%.
​(Type an integer or decimal rounded to three decimal places as​ needed.)

Expert Answer

Want to see the step-by-step answer?

Check out a sample Q&A here.

Want to see this answer and more?

Experts are waiting 24/7 to provide step-by-step solutions in as fast as 30 minutes!*

*Response times may vary by subject and question complexity. Median response time is 34 minutes for paid subscribers and may be longer for promotional offers.
Tagged in
Math
Statistics

Other

Related Statistics Q&A

Find answers to questions asked by students like you.

Q: How much money do winners go home with from the television quiz show Jeopardy? To determine an answe...

A: Solution:Confidence interval formula:Confidence interval = sample statistic ± margin of errorWhere, ...

Q: Previously, you studied linear combinations of independent random variables. What happens if the var...

A: Hey, since there are multiple subpart questions posted, we will answer first three subparts. If you ...

Q: A researcher says that 50% of the variance in blood pressure can be predicted from HR and that blood...

A: In this question we have the value of coefficient of determination which is equal to 0.50 and we hav...

Q: A computer system uses passwords that contain exactly 6 characters, and each character is 1 of the 2...

A:  We have to make a password of 6 digits whose digits can be 26 lowercase alphabets, 26 uppercase alp...

Q: Do heavier cars really use more gasoline? Suppose a car is chosen at random. Let x be the weight of ...

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you. ...

Q: Repeat the following procedure for the four given numbers.Multiply the number by 4. Add 4 to product...

A: The first number is 1Step-1 Multiplying by 4 we get =1*4 = 4Step-2 Add 4 to the product we get = 4+4...

Q: I need help with part (c) only, I need t statistic and p value. Mist (airborne droplets or aerosols)...

A: Part (c):The regression analysis is conducted here by using EXCEL. The software procedure is given b...

Q: Fuming because you are stuck in traffic? Roadway congestion is a costly item, both in time wasted an...

A: Hey, since there are multiple subpart questions posted, we will answer first three subparts. If you ...

Q: The CEO of a cable company claims that the population mean wait time for callers at a company's cust...

A: The aim is to find the accurate statement from the following options to evaluate the population mean...

Q: A hospital reported that the normal death rate for patients with extensive burns (more than 40% of s...

A: The provided information are:

Q: See attachment for question.

A: Introduction to binomial distribution:Consider a random experiment involving n independent trials, s...

Q: (a) In the random number table, assign the digits 0 through 8 to the event "successful surgery" and ...

A: Total number of digits assigned to event "successful surgery" (0-8) = 9Total number of digits assign...

Q: Suppose 230 subjects are treated with a drug that is used to treat pain and 54 of them developed nau...

A: Given hypothesis testNull Hypothesis : p = 0.20Alternative Hypothesis : p > 0.20The sample size n...

Q: In a standard normal distribution, what is the area under the graph for z>0? Explain.

A: Normal distribution:A random variable X is said to follow a normal distribution if the probability d...

Q: Let x be the average number of employees in a group health insurance plan, and let y be the average ...

A: (a)The scatter diagram for the provided data can be plotted using Excel.The steps are given below:En...

Q: A hospital administrator claims that the proportion of knee surgeries that are successful is 87%. To...

A: The provided information are:Sample size (n) = 450Hypothesised proportion (po)=0.87From the provided...

Q: An economist is studying the job market in Denver area neighborhoods. Let x represent the total numb...

A: Scatter PlotIt is a Graph between two variables. It is plotted to check the relationship between the...

Q: Guys, parts (b) and (c) in this solution that you have sent me twice is incorrect https://www.bartle...

A: X data transfer time, is gamma distribution with mean 37.5 and standard deviation 21.6. So, The valu...

Q: Total plasma volume is important in determining the required plasma component in blood replacement t...

A: Note:Hi! Thank you for posting the question. Since your question has more than 3 parts, we have solv...

Q: Need help with (c) and (d) Mist (airborne droplets or aerosols) is generated when metal-removing flu...

A: (c) Null and alternative hypotheses:Null hypothesis:H0: β1 = 0.6Alternative hypothesis:Ha: β1 < 0...

Q: Consider the following data on x= height of a building and y = number of stories for nine notable bu...

A: Given data of x= height of building and y = number of stories for nine notable buildings as shown be...

Q: How do I run a the test of normality?  Assumptions of normality

A: Introduction:Several tests of normality exist, using which you can verify whether a particular data ...

Q: Suppose you are assigned the number 1, and the other students in your statistics class call out cons...

A: Solution:(a) A random sample of four students from statistics class can be selected by using a compu...

Q: Could you help me with these questions in regaurds to the table provided? (2) Calculate covariance b...

A: Click to see the answer

Q: Let S be a given sample space and let E and F be two events that have no common outcome and their un...

A: Probability of two events:It is given that E and F are the two events in sample space, S. The probab...

Q: Compute the sample correlation coefficient r for each of the following data sets and show that r is ...

A: We know the sample correlation coefficient r between x and y variable as:

Q: In a union-management negotiation, the following are the percentages of annual wage increase gained ...

A: Let’s make a table to see this data M1M2M3U1133U2422U3314U4332U5312

Q: a. Using the pairs of values for all 10​points, find the equation of the regression line. b. After r...

A: Part (a):From the graph, the data points are (1,7),(1,8),(1,9),(2,7),(2,8),(2,9),(3,7),(3,8),(3,9),a...

Q: Let A and B be two events with P(A) = 0.71 and P(B) = 0.44. What is the smallest possible value of P...

A: According to the given question, A and B be two events with probability P(A)=0.71  and P(B)=0.44 the...

Q: Question attached. Can the proof be shown by contradiction?  Any help would be appreciated.

A: You've guessed correctly. This can be proved by contradiction as you'll see in the ensuing steps.

Q: An epidemiologist found five cases of “big toe cancer” in the Yukon Territory. Because there were on...

A: Hello. Since your question has multiple sub-parts, we will solve the first three sub-parts for you. ...

Q: A therapist believes that the music a child listens to may have an impact on the number of words on ...

A: Given Null hypothesis H0 : µd = 0 Alternative hypothesis Ha: µd ≠ 0A sample size of 19 students is c...

Q: Red snapper is a rare and expensive reef fish served at upscale restaurants. Federal law prohibits r...

A: There are only two possible outcomes when you order red snapper - you either get red snapper or the ...

Q: A contingency table for injuries in the United states, by circumstances and gender, is a follows. Fr...

A: Calculation for part (a):The contingency table is given for injuries.For any event A, the probabilit...

Q: In a survey of 3 of 4 students said the courts show too much concern for criminals.  Find the probab...

A: According to the given question, in a survey of 3 of 4 students said the courts show too much concer...

Q: I want you to come up with one study idea that would use a one sample chi square and one study that ...

A: The one sample Chi-square test is also called as Chi-square goodness of fit, which is used to decide...

Q: Construct a probability distribution for the data and draw a graph for the distribution.  Find the m...

A: The probability distribution is given by:

Q: The Congressional Budget Office reports that 36% of federal civilian employees have a bachelor's deg...

A: Note:Thank you for posting the question! Since your question has more than 3 parts, we have solved t...

Q: You are asked to design a study to investigate the effectiveness of the Atkins diet (IV = diet, DV =...

A: Independent t test:Independent t test determines whether there is significant difference between the...

Q: Overproduction of uric acid in the body can be an indication of cell breakdown. This may be an advan...

A: The provided information are:

Q: Find the mean, the median, the mode, and the midrange, the range, variance, standard deviation, 65th...

A: Hello there! According to our policies can answer one question . As there are multiple questions in ...

Q: Derby Leicester is a city planner preparing for a meeting with the mayor. He would like to show that...

A: Assumptions:The assumptions for a hypothesis test of the difference between two population means are...

Q: It has been reported that 20.4% of incoming freshmen indicate that they will major in business or a ...

A: Confidence interval:The (1-α) % confidence interval for proportion p is given by,

Q: How are r and r2 interpreted?

A: In this question, we have to explain how we interpret r and r2

Q: figts, inclusive, are on time. 22. Morality In a recent poll, the Gallup Organization found that 45%...

A: Normal approximation to the binomial:From the given information, it is clear that n = 500The probabi...

Q: D, E, F

A: In this question, we have the data for two groups and we have to find the inference about  the popul...

Q: The standard treatment for a disease works in 0.65 of all patients. A new treatment is patients (of ...

A: (a)The provided details are:

Q: For mode of Beta Distribution with parameters Alpha and Beta, why are the bounds when alpha and beta...

A: Beta FunctionIt is an area function and defined by a definite integral 

Q: Researchers conducted a study to determine whether magnets are effective in treating back pain. The ...

A: (a)To test whether the treatment is effective, the following null and alternative hypotheses are con...

Q: NUMBER 22

A: Normal approximation to the binomial:From the given information, it is clear that sample size, n = 5...