Suppose that on January 1 you have a balance of ​$3500 on a credit card whose APR is 18​%, which you want to pay off in 3 years. Assume that you make no additional charges to the card after January 1.   a. Calculate your monthly payments. b. When the card is paid​ off, how much will you have paid since January​ 1? c. What percentage of your total

Q: Find the simple interest (in dollars) due on a 31-day loan of $950 if the annual simple interest…

A: The provided information is as follows:The principal amount is .The total number of days is .The…

Q: Suppose you deposited ​$40 per month into a savings plan for 5 years and at the end of that period…

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Q: Suppose that the monthly payment on a loan is $700: The loan amount is to be paid in 8 years and the…

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Q: You make a payment of $300 at the beginning of each month into an account that 3.6%annual interest.…

A:

Q: What monthly amount is needed for a car loan with a starting balance of $8000 over 3 years with a…

A: Given,             P=$ 8000            r = 0.65 % = .65100 = 0.0065            t = 3 years .Then ,…

Q: You can afford a monthly payment of $375 for a new car loan.  You want the loan to last for 5 years…

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Q: A person pays $200,000 for a new house. A down payment of $70,000 leaves the mortgage of $130,000…

A: GivenDown payment =$70,000Mortgage p=$130,000Interest r=10% per year The monthly mortgage payment is…

Q: Use the​ add-on method to determine the monthly payment for a ​$9,000loan at 6​% interest for three…

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Q: Use PMT = . Round to the nearest dollar. Suppose that you borrow $10,000 for four years at 7%…

A: To Find: The monthly payments and the total interest for the loan.

Q: If you borrowed $10,000 for 9 months at 12% annual simple interest, how much must you repay at the…

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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.