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Stels [109]
3 years ago
9

Benjamin's credit card has an APR of 19%, calculated on the previous monthly balance, and a minimum payment of 2%, starting the

month after the first purchase. His credit card record for the last 7 months is shown in the tablebelow.
End of Previous
Payment Finance Principal New
month balance charges received charges
balance
$0.00 $2400.00 $0.00 $0.00 $0.00 $2400.00
$2400.00 $0.00
$48.00
$38.00 $10.00 $2390.00
$2390.00 $0.00 $47.80 $37.84 $9.96 $2380.04
$2380.04 $0.00 $47.60
$37.68
$2370.12
$2370.12
$0.00
$47.40 $37.53
$2360.25
$2360.25 $0.00 $47 20 $3737 $9.83 $2350.41
$2350.41 $0.00 $47.01 $37 21 $9.79 $2340.62
pald
VOON
$9.92
$9.88
What is the total amount that Benjamin has made in payments over the 7
months?
Mathematics
1 answer:
Anastaziya [24]3 years ago
3 0

Answer:

2390.00

Step-by-step explanation:

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Answer:

The probability that the 3rd defective mirror is the 10th mirror examined = 0.0088

Step-by-step explanation:

Given that:

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To find the probability that the 3rd defective mirror is the 10th mirror examined:

Let X be the random variable that follows a negative Binomial expression.

Then;

X \sim  -ve  \ Bin (k = 3 , p = 0.075)\\ \\ P(X=x)= \bigg (^{x-1}_{k-1}\bigg)\times P^k\times (1-P)^{x-k}

= \bigg (^{10-1}_{3-1}\bigg)\times 0.075^3\times (1-0.075)^{10-3}

= \bigg (^9_2\bigg)\times 0.075^3\times (1-0.075)^{7}

= \dfrac{9!}{2!(9-2)!}\times 0.075^3\times (0.925)^{7}

= \dfrac{9*8*7!}{2!(7)!}\times 0.075^3\times (0.925)^{7}

= 0.0087999

≅ 0.0088

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