In Exercises 11–16, fill in the blanks using the named events. [ HinT: See Example 2 and the FAQ at the end of the section.] 2% of all items bought on my auction site ( B ) were works of art ( A ) , whereas only 1% of all works of art on the site were bought. P ( _ _ | _ _ ) = _ _ _ ; P ( _ _ | _ _ ) = _ _ _
In Exercises 11–16, fill in the blanks using the named events. [ HinT: See Example 2 and the FAQ at the end of the section.] 2% of all items bought on my auction site ( B ) were works of art ( A ) , whereas only 1% of all works of art on the site were bought. P ( _ _ | _ _ ) = _ _ _ ; P ( _ _ | _ _ ) = _ _ _
Solution Summary: The author explains that 2% of all items bought on their auction site (B) were works of an art, whereas only 1% of art on the site were brought.
In Exercises 11–16, fill in the blanks using the named events.
[HinT: See Example 2 and the FAQ at the end of the section.]
2% of all items bought on my auction site
(
B
)
were works of art
(
A
)
, whereas only 1% of all works of art on the site were bought.
P
(
_
_
|
_
_
)
=
_
_
_
;
P
(
_
_
|
_
_
)
=
_
_
_
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
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, subject and related others by exploring similar questions and additional content below.
Probability & Statistics (28 of 62) Basic Definitions and Symbols Summarized; Author: Michel van Biezen;https://www.youtube.com/watch?v=21V9WBJLAL8;License: Standard YouTube License, CC-BY
Introduction to Probability, Basic Overview - Sample Space, & Tree Diagrams; Author: The Organic Chemistry Tutor;https://www.youtube.com/watch?v=SkidyDQuupA;License: Standard YouTube License, CC-BY