In Exercises 3–8, calculate the (modeled) probability P ( E ) using the given information, assuming that all outcomes are equally likely. [ HinT: See Quick Examples 11–13.] S = { 1 , 3 , 5 , 7 , 9 } , E = { 3 , 7 }
In Exercises 3–8, calculate the (modeled) probability P ( E ) using the given information, assuming that all outcomes are equally likely. [ HinT: See Quick Examples 11–13.] S = { 1 , 3 , 5 , 7 , 9 } , E = { 3 , 7 }
Solution Summary: The author explains the formula used to calculate the probability of a given event, which is 0.4.
In Exercises 3–8, calculate the (modeled) probability
P
(
E
)
using the given information, assuming that all outcomes are equally likely. [HinT: See Quick Examples 11–13.]
The Martinezes are planning to refinance their home. The outstanding balance on their original loan is $150,000. Their finance company has offered them two options. (Assume there are no additional finance charges. Round your answers to the nearest cent.)
Option A: A fixed-rate mortgage at an interest rate of 4.5%/year compounded monthly, payable over a 30-year period in 360 equal monthly installments.Option B: A fixed-rate mortgage at an interest rate of 4.25%/year compounded monthly, payable over a 12-year period in 144 equal monthly installments.
(a) Find the monthly payment required to amortize each of these loans over the life of the loan.
option A $
option B $
(b) How much interest would the Martinezes save if they chose the 12-year mortgage instead of the 30-year mortgage?
The Martinezes are planning to refinance their home. The outstanding balance on their original loan is $150,000. Their finance company has offered them two options. (Assume there are no additional finance charges. Round your answers to the nearest cent.)
Option A: A fixed-rate mortgage at an interest rate of 4.5%/year compounded monthly, payable over a 30-year period in 360 equal monthly installments.Option B: A fixed-rate mortgage at an interest rate of 4.25%/year compounded monthly, payable over a 12-year period in 144 equal monthly installments.
(a) Find the monthly payment required to amortize each of these loans over the life of the loan.
option A $
option B $
(b) How much interest would the Martinezes save if they chose the 12-year mortgage instead of the 30-year mortgage?
Given: Circle J
2
What is the value of y?
A. 38
C.
68
B. 50
D. 92
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