bryce can afford a $350-per-month car payment. if he is being offered a 6-
year car loan with an apr of 4.2%, compounded monthly, what is the value of
the most expensive car he can afford?
o
a. $25,196.78
b. $22,241.32
o
c. $25,167.83
o d. $24,880.83

Apex $22,241.32

Step-by-step explanation:

A sample size of 128 is needed.

Step-by-step explanation:

We have that to find our level, that is the subtraction of 1 by the confidence interval divided by 2. So:

Now, we have to find z in the Ztable as such z has a pvalue of .

So it is z with a pvalue of , so

Now, find the margin of error M as such

In which is the standard deviation of the population(square root of the variance) and n is the size of the sample.

How large should a sample be if the margin of error is 1 minute for a 93% confidence interval

We need a sample size of n, which is found when . We have that . So

Rounding up

A sample size of 128 is needed.