Coleton pays 8% interest on his $36,000 college loan and 12% interest on his $13,000 car loan. What average interest rate does he pay on the total $49,000 he owes? Round your answer to the nearest tenth of a percent.
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.
Coleton pays 8% interest on his $36,000 college loan and 12% interest on his $13,000 car loan. What average interest rate does he pay on the total $49,000 he owes? Round your answer to the nearest tenth of a percent.
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