Review the Monthly Principal & Interest Factor chart to answer the question: APR 30-Year Term 20-Year Term 15-Year Term
5.5 $5.68 $6.88 $8.17
6.0 $6.00 $7.16 $8.44
6.5 $6.32 $7.46 $8.71
7.0 $6.65 $7.75 $8.99
7.5 $6.99 $8.06 $9.27

The Renfroe household will be financing a principal balance of $242,300.00 for their property. They are trying to decide whether to take a 30-year or 15-year term mortgage. Based on their credit score, they qualify for an APR of 6.5%. Calculate the difference in total interest they would pay between the two terms.

Group of answer choices

$171,403.02

$184,353.72

$193,523.68

$224,536.51

Acell phone company offers two plans to its subscribers. at the time new subscribers sign up, they are asked to provide some demographic information. the mean yearly income for a sample of 40 subscribers to plan a is $45,000 with a standard deviation of $9,200. for a sample of 25 subscribers to plan b, the mean income is $64,300 with a standard deviation of $7,100. at the 0.025 significance level, is it reasonable to conclude the mean income of those selecting plan b is larger? assume unequal population standard deviations. hint: for the calculations, assume the plan a as the first sample. what is the decision rule? (negative amount should be indicated by a minus sign. round your answer to 3 decimal places.) compute the value of the test statistic. (negative amount should be indicated by a minus sign. round your answer to 2 decimal places.) what is your decision regarding h0 ? reject h0 fail to reject h0 compute the p-value. less than 0.01 between 0.01 and 0.025 between 0.025 and 0.05 between 0.05 and 0.10 greater than 0.10