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?

Q: You deposit $3000 in an account earning 2% interest compounded monthly. How much will you have in…

A: Since, there has been a deposit of $3000 in an account earning 2%interest compunded monthly. Our aim…

Q: At graduation, you have a student loan of $22,000. The loan has a fixed annual interest rate of…

A:

Q: An insurance settlement of $2.5 million must replace Trixie Eden's income for the next 30 years.…

A:

Q: At graduation, you have a student loan of $20,000. The loan has a fixed annual interest rate of…

A: Now the monthly payments when the loan amount is P taken for n months at a rate of r% is…

Q: you deposit $5000 in an account earning 3% interest compounded monthly. how much will you have in…

A: We have given,

Q: 4. Rayanna's father plans to give her monthly payments for the next 4 years as she attends…

A: To find the monthly payment of Rayanna.

Q: You borrow $4500 at 5% interested compounded quarterly. How much will you owe after 7 years?

A:

Q: Angelica received a 12-year non-subsidized student loan of $16,000 at an annual interest rate of…

A: The formula for compound interest is: A = P (1 + r/n)nt Where:A = amount after interest,P =…

Q: Fifteen years ago a couple purchased a house for $150,000.00 by paying a 20% down payment and…

A: Given that fifteen years ago a couple purchased a house for $150,000.00 by payinga 20% down payment…

Q: You want to buy a new car. You can afford payments of $500 per month and can borrow the money at an…

A: From the given data,A=$500 per month.Interest rate of 5.7% compounded monthly for 5 years.

Q: Use the sinking fund formula shown to the right to determine the monthly payment needed to…

A: Given data: Amount that needs to be accumulated (A)=$360000 Interest rate (r) =9% Time (t) =34…

Q: Liz wants to accumulate at least $40,000 by depositing $900 at the end of each month into a fund…

A: As the interest rate is compounded monthly:   Part (a):   Future value for the annuity is computed…

Q: Find the amount of compound interest earned. 5) $5000 at 6% compounded annually for 3 years

A: Recall the following fact.

Q: An amount of $1500 is deposited semi-annually for two years into a fun 10.5% per year, compounded…

A: Its is given that $1500 is deposited semi annually for two years into a fund that pays 10.5% per…

Q: A student takes out a college loan of $8000 at an annual percentage rate of 4%, compounded monthly.…

A:

Q: The amount of money in the account after 3 years is $ ​(Round to the nearest cent as​ needed.) The…

A: To determine the future balance of an investment subject to compound interest, we applied the…

Q: Acme Annuities recently offered an annuity that pays 7.5% compounded monthly. What equal monthly…

A:

Q: P Suppose that you borrow $14,000 for four years at 5% toward the purchase of a car. Use PMT = to…

A:

Q: Sam begins saving for a down payment on a house using an investment account. The account earns…

A: Let's find.

Q: low much interest are you going to pay after 45 days if you borrowed 50,000.00 in a lending vestor…

A:

Q: You want to retire at age 65. You decide to make a deposit to yourself at the end of each year into…

A:

Q: Donny has paid $15,000 for a retirement annuity from which he will receive $2.063 at the end of…

A: Donny has paid $15,000 for a retirement annuity from which he will receive $2,063 at the end of…

Q: You borrow $450,000 from a bank to buy a house, at a rate of 2.25%, for 30 years. How much will your…

A: In the given problem,  P=450,000 $r=2.25% compounded monthlyt=30 years Here, interest is compounded…

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.