You want to buy a $175,000 home. You plan to pay 15% as a down payment, and take out a 30 year loan at 3.45% interest for the rest. The bank will charge 2 points on the amount financed. a) What is the amount of the down payment? b) How much is the loan amount going to be? c) What will be the amount charged for 2 points? *1 point is 1 % of the mortgage amount
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.
Since you have posted a question with multiple sub-parts, I will solve the first three subparts for you. To get remaining sub-parts solved please repost the complete question and mention the sub-parts.
Step by step
Solved in 2 steps with 2 images
