Assignment 1 Quantitative Analsis

1. Explain the steps in the following statement. Statement | Jill Roger borrowed $16,000 to buy a new boat. Assuming an interest charge of $2,900 what will be her monthly payment if she takes 30 months to repay the loan (+interest). Assume the loan is repaid in equal payments. Jill has a monthly salary of $900. | | What will be (calculate) her monthly payment if she takes 30 months to repay the loan (+interest). | | Determine a total debt ( loan + interest) and (divided by total months to calculate) the monthly payment. | | The loan was $16,000. The interest charge was $2,900, and the loan is repay in 30 months. | | Total Loan + Payment= 16,000+2,900=$18,900Equal monthly payment=18,900/30=$630 p/month | | Total to pay is $18,900Monthly payment wiil be $630 | | Jill Roger total due (debt) is of $18,900For 30 years, she has to pay $630 monthly. | | Jill has a monthly salary of $900, so she can make a monthly payment of $630. |

2. Explain the steps in the following statement. Statement | Mary Jones received the following grades in Introduction to Mathematical Reasoning course: 57, 70, 53, and 43. | | Will Mary Jones pass her class (course)? Dteermine if Mary Jones pass her course. Wiil Mary Jones drop from the course? | | Compute (calculate) the average grade summing the grades and dividing by the number of grades. The average must be greater than 70% to pass. | | Mary has the following grades: 57, 70, 53, and 43. | | Average grade= (57 + 70 + 53 + 43)/4 = 55.75 | | Mary pass the course with an average of 55.75 ? | | Mary’s average is 55.75 and the minimum average to pass the class is 70. | | Mary’s average is lower than the minimum average. Mary is not passing the class. |

3. Use Mary Jones Excel-file to solve the following situation. Mary Jones received the following grades in Introduction to Management course: 55, 98, 60, 67, 90, 80, and 50. The lowest grade will be dropped. Send a Mary Jones