Easton has two options for buying a car. Option A is 2.1% APR financing over 72 months and Option B is 3.1% APR over 72 months with $3100 cash back, which he would use as part of the down payment. The price of the car is $37,061 and Easton has saved $3700 for the down payment. Find the total amount Easton will spend on the car for each option if he plans to make monthly payments. Round your answers to the nearest cent, if necessary.
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.
Easton has two options for buying a car. Option A is 2.1% APR financing over 72 months and Option B is 3.1% APR over 72 months with $3100 cash back, which he would use as part of the down payment. The price of the car is $37,061 and Easton has saved $3700 for the down payment. Find the total amount Easton will spend on the car for each option if he plans to make monthly payments. Round your answers to the nearest cent, if necessary.
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