SAT High School

A student graduated from a 4-year college with an outstanding loan of $9898, where the average debt is $8550 with a standard deviation of $1847. Another student graduated from a university with an outstanding loan of $12,021, where the average of the outstanding loans was $10,305 with a standard deviation of $2132

Answers

Answer 1

The first student's loan is above average, since it is greater than the average loan amount of $8550. The second student's loan is also above average, since it is greater than the average loan amount of $10,305.

What is the loan ?

A loan is a type of financial agreement in which one party (the lender) provides a sum of money to another party (the borrower) in exchange for the borrower’s promise to pay back the sum with interest over a set period of time. Loans are a common form of financing for individuals, businesses, and other entities. They can be used to finance large purchases such as homes, cars, education, or medical bills. Some loans are even used to fund entrepreneurial endeavors. The terms of the loan dictate the interest rate, total amount due, repayment schedule, and other conditions agreed upon by the lender and borrower. Repayment is typically made in regular installments and can include a combination of principal and interest payments.

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