A recent graduate's student loans total $18,000. If these loans are at 4.2%, compounded quarterly, for 8 years, what are the quarterly payments? (Round your answer to the nearest cent.) 24

Q: You borrow $950 from your brother and agree to pay back $1000 in 19 months. What simple interest…

A:

Q: Sandeep borrows $20,000 for a new car. The bank offers him an annual interest rate of 9% compounded…

A: Given that the borrows amount PV= $ 20,000 Interest rate  r=9%=9100=0.09compounded monthly…

Q: Peter purchased a cottage for $360,000. He paid $32,500 down and agreed to make equal payments at…

A: Solution-The price of the cottage =$360000Down payment=$32500Rate(r)=3.2% or 0.032Time(t)=8…

Q: Suppose you see a car with an advertised price of $14,500 at $410.83 per month for 4 years. What is…

A: Given that :Suppose you see a car with an advertised price of $14,500 at $410.83 per month for 4…

Q: You decide to quit using your credit card and want to pay off the balance of $2,400 in 3 years. Your…

A:

Q: A firefighter for the National Park Service has a 5-year car loan for which the monthly payment is…

A: Given: To explain the given statement as follows,  Formula used: Present Value =Annuity × 1-11+rnr.

Q: Rick deposited $1500 into his saving account every month for 8 years. How much money does Rick have…

A:

Q: A radio commercial for a loan company states: "You only pay 35¢ a day for each $500 borrowed." If…

A:

Q: Grandma Riley wants to help Scott while he's in college by giving him a $220 monthly allowance for 5…

A:

Q: You take out a loan to purchase a car for $7600. The bank offers you 3.8%, compounded monthly for 4…

A: Interest = $ 26525.22

Q: Rachel deposits $12,000 into a fixed asset account that earns 6% compounded quarterly. What is…

A: Formula:      where FV = Future Value          PV = The principal amount (the initial amount of…

Q: 2. You purchase a CD for $1000 on which you will earn 2.4% simple interest for each year of the…

A:

Q: A public relations writer recieved a promotion that came with a $7,000 salary increase. The writer…

A: A public relations writer recieved a promotion that came with a $7,000 salary increase. The writer…

Q: Your electric bill is $128. You are charged 12% simple interest for late payments. How much do you…

A: Solution-: Given: Amount of  electric bill is $128. Rate of simple interest =12% . How much do you…

Q: You owe $16,000 on student loans at an interest rate of 4.15% compounded monthly. You want to pay…

A: The monthly payment is calculated using the formula: Monthly Payment=Loan amount×i1-(1+i)-n. Here, i…

Q: A share valued at $256.50 pays quarterly dividends in perpetuity at a rate of return of 3.50%…

A: Given: Dividend:$256.50 i=3.50%  i.e. 0.035 n=2 The effective rate of interest is obtained by the…

Q: Mrs. Rees decides to invest $250 each month into an account that earns 1.8%/a compounded monthly.…

A: Mrs. Rees decides to invest $250 each monthrate=r= 1.8%/atime = 5 years

Q: Brent Pickett borrowed $5000 from his brother Dave. He agreed to repay the money at the end of 2…

A:

Q: A man deposits $18,000 at the beginning of each year for 8 years in an account paying 6% compounded…

A: Compound interest is a type of interest that is calculated not only on the initial principal amount,…

Q: Consider a 30-year fixed-rate home loan of $525,500 with an interest rate of 3.75%. What is the…

A: We have to find the interest of given amount. The solution is following.

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.