Jim Jones, is an owner of a Burger King Restaurant. He assumes that this restaurant will need a new roof in 7 year. He estimates that the roof will cost him $9,000 at that time. a) What amount should Jim Invest today at an institution offering 6% A.P.R. compounded quarterly to be able to pay for the roof? b) What is the amount of the interest that he will earn
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.
Jim Jones, is an owner of a Burger King Restaurant. He assumes that this restaurant will need a new roof in 7 year. He estimates that the roof will cost him $9,000 at that time.
a) What amount should Jim Invest today at an institution offering 6% A.P.R. compounded quarterly to be able to pay for the roof?
b) What is the amount of the interest that he will earn?
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