A couple who borrow $100,000 for 20 years at 6%, compounded monthly, must make monthly payments of $716.43. (Round your answers to the nearest cent.) (a) Find their unpaid balance after 1 year. $ (b) During that first year, how much interest do they pay?

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A: Given Data The deposit amount is P=$75. The interest rate per month is r=6.5%. The time at age of 25…

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A: Interest is compounded annually, therefore n=1

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A: Given: P = $24000 r = 9% = 0.09 t = 30 years n = 360   Formula used: A=P1+rnnt

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Q: A homeowner planning a kitchen remodeling can afford a $300 monthly payment. How much can the…

A: Given:

Q: An item will need replacing in 6 years from now at a cost of P128,000.00. How much should the owner…

A:

Q: A bank has decided to set its interest rates to compound monthly on all deposits in order to give…

A: We know the compound interest formula:A=P1+rnntwhere A=Principal amount +interest Amount…

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A: A woman wishes to save$20,000 for a down payment on a home. She can afford to set aside $1500 per…

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Q: Kevin deposits a fixed quarterly amount into an annuity account for his child's college fund. He…

A: Given data: The future value is FV=$80000. The time taken is t=13 years. The APR is r=3.3%.

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A:

Q: The cost of a four-year private college education (after financial aid) has been estimated to be…

A:

Q: An amount of $44,000 is borrowed for 8 years at 4.75% interest, compounded annually. If the loan is…

A: A=P(1+r)t P is the amount borrowed.r is the rate of interest.t is the time.

Q: If $8,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

A: If $8,000 had been invested in a certain investment fund on September 30, 2008, it would have been…

Q: An amount of $37,000 is borrowed for 10 years at 4.25% interest, compounded annually. If the loan is…

A: Given information:- An amount of $37,000 is borrowed for 10 years at 4.25% interest, compounded…

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A: P = 5000 APR = 3% t = 10 year

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Q: A recent graduate's student loans total $16,000. If these loans are at 5%, compounded quarterly, for…

A: FORMULA A=final amount P=initial principal balance r=interest rate t= number of time period…

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Q: A couple who borrow $80,000 for 15 years at 8.4%, compounded monthly, must make monthly payments of…

A: NOTE: Refresh your page if you can't see any equations. . here we have PMT=783.11 r=8.4%=0.084 n=12…

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Q: Jennifer's pension plan is an annuity with a guaranteed return of 5% per year (compounded monthly).…

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Q: To help pay for Arthur's estimated $33,000 in college expenses, Ryann and Austin make a deposit into…

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A: Consider the provided question, Given, Loan amount = $50,000 total time = 15 years rate of interest…

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A:

Q: Parents wish to have $150,000 available for a child's education. If the child is now 3 years old,…

A: Total years when child is of 18 =18-3 =15 yearrate =7% compounded semi annuallyLet they set  aside…

Q: A couple who borrow $60,000 for 20 years at 8.4%, compounded monthly, must make monthly payments of…

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Q: A student takes out a college loan of $6000 at an annual percentage rate of 5%, compounded monthly.…

A: GIVEN: Student takes out a college loan of $6000 Rate = 5% monthly

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Q: An amount of $28,000 is borrowed for 15 years at 7.5% interest, compounded annually. If the loan is…

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A: Consider the provided question, First we need to find present value of such lottery discounted with…

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.