mat144 week 2 assignment latest 2018 may

Week 2
assignment

You
are going on a dream vacation with five of your closest friends for a
week. Since you are taking a math
course, your friends asked you to come up with a budget to see how much it will
cost each of you. Please identify your
location in the US and then determine the total costs – remember to be thorough
so the group does not run out of money.
Your expense list must include the following (this means that you cannot
book an all-expenses paid trip)

•
Travel
expenses, such as plane or bus fare, local travel within the area.

•
Lodging
expenses. If you plan to camp, you will include expenses for your camping gear.

•
Food
expenses while you are on your trip. One way to do this is to research cost of
living in your destination county to find out what a local family would expect
to budget to pay for food. Another is to research local restaurants and
groceries.

Entertainment or activity
expenses and/or miscellaneous expenses that may occur

Suppose
you all decide you want to finance the trip with a loan. Find two different available offers (the
internet is a good source). Make sure the interest rate and loan length are
both different in each option. Calculate
the monthly payment amount, the total amount you will pay over the life of the
loan and the total interest you will pay.
NOTE: Do not provide personal information on the internet. You can find
loan rates on major bank and credit union websites without providing personal
information.

Loan payment formula: PMT = P*(r/n)/(1 – (1 + r/n)^(-n*t))

PMT
is the payment required to pay off a loan of $P at interest rate, r%,
compounded n times per year for t years.

You must use Excel formulas including cell references to
calculate the loan payment, total paid and interest paid.

Discuss which loan would be
a better option and why: (14 points!)

Using
the data set of 102 random heights provided use Excel formulas to find the
following:

Mean

Median

Mode

Range

Minimum

Maximum

Standard
deviation

Frequency
distribution

Histogram

The z
score for your height (use the computed mean and standard deviation)

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