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3 years ago

If a credit card holder has a low APR. The minimum monthly payments will be?

Mathematics

1 answer:

Aleks04 [339]3 years ago

4 0

Answer:

Option B, the minimum monthly payments will be LOWER

Step-by-step explanation:

We can proof this by using hypothetical scenario below:

John has $1,500 with APR of 10% payable in 48 month equal instalment

Timmy has $1,500 with APR of 8% payable in 48 month equal instalment

Let us calculate monthly payment in each case

=pmt(rate,nper,-pv,fv)

rate is the monthly rate which APR/12

nper is 48

pv is the balance on the card which is $1,500

fv is the total monthly repayment which is unknown

John monthly payment=pmt(10%/12,48,-1500,0)=$38.04

Timmy monthly payment=pmt(8%/12,48,-1500,0)=$ 36.62

Since Timmy with a lower APR has a lower monthly payment, option B is correct

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Using the binomial distribution, it is found that the mean and the standard deviation of variable x are given as follows:

$\mu = 3, \sigma = 0.87$

<h3>What is the binomial probability distribution?</h3>

It is the probability of exactly <u>x successes on n repeated trials, with p probability</u> of a success on each trial.

The expected value of the binomial distribution is:

E(X) = np

The standard deviation of the binomial distribution is:

$\sqrt{V(X)} = \sqrt{np(1-p)}$

In this problem, we have that the parameters are given as follows:

n = 4, p = 0.75.

Hence the mean and the standard deviation are given as follows:

E(X) = np = 4 x 0.75 = 3.

$\sqrt{V(X)} = \sqrt{np(1-p)} = \sqrt{4 \times 0.75 \times 0.25} = 0.87$

More can be learned about the binomial distribution at brainly.com/question/24863377

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2 years ago

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Answer:

x = -10

x = 5

Step-by-step explanation:

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2 years ago

If the area of each of the triangular regions is as shown, what is the area of the polygon?

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Answer:

Step-by-step explanation:

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3 years ago

The value of which of these expressions is closest to e?

Anna [14]

Answer:

Using a calculator, we can check that e=2.718281828.

Step-by-step explanation:

Lets evaluate each one of our expression the check which one is closest to e:

(1+ \frac{1}{31} )^{31}=2.675686306

(1+ \frac{1}{32})^{32}=2.676990129

(1+ \frac{1}{34} )^{34}=2.679355428

(1+ \frac{1}{33} )^{33}=2.678207651

We can conclude that the value of (1 +1/34) to the power of 34 is the closest to the value of e.

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3 years ago

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What is the formula for caluataing slope from two points

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3 years ago