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Bingel [31]
3 years ago
5

Assume that male and female births are equally likely and that the birth of any child does not affect the probability of the gen

der of any other children. find the probability of exactly six boys in ten births. round the answer to the nearest thousandth.
Mathematics
1 answer:
erma4kov [3.2K]3 years ago
6 0
You need to use the binomial probability formula:
p(k) =  \frac{n!}{k!(n-k)!}  p^{k}  (1-p)^{n-k}

where:
n = total number of events = 10
k = number of events we are testing = 6
p = probability of event happening = 0.5

p(6) = \frac{10!}{6!(10-6)!} 0.5^{6} (1-0.5)^{10-6}
= 210×0.015625×0.0625
= 0.205078

Hence, the probability of getting 6 boys out of 10 births is p = 0.205.
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vfiekz [6]

Answer:

The mortgage chosen is option A;

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Step-by-step explanation:

The details of the home purchase are;

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The amount used as down payment for the loan = $55,000

The principal of the mortgage borrowed, P = The price of the house - The down payment

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The principal of the mortgage, P = $220,000

The formula for the total amount paid which is the cost of the loan is given as follows;

Outstanding \ Loan \ Balance = \dfrac{P \cdot \left[\left(1+\dfrac{r}{12} \right)^n -  \left(1+\dfrac{r}{12} \right)^m \right] }{1 - \left(1+\dfrac{r}{12} \right)^n }

The formula for monthly payment on a mortgage, 'M', is given as follows;

M = \dfrac{P \cdot \left(\dfrac{r}{12} \right) \cdot \left(1+\dfrac{r}{12} \right)^n }{\left(1+\dfrac{r}{12} \right)^n - 1}

A. When the mortgage term, t = 15-years,

The interest rate, r = 3%

The number of months over which the loan is payed, n = 12·t

∴ n = 12 months/year × 15 years = 180 months

n = 180 months

The monthly payment, 'M', is given as follows;

M =

The total amount paid over the loan term = Cost of the mortgage

Therefore, we have;

220,000*0.05/12*((1 + 0.05/12)^360/( (1 + 0.05/12)^(360) - 1)

M = \dfrac{220,000 \cdot \left(\dfrac{0.03}{12} \right) \cdot \left(1+\dfrac{0.03}{12} \right)^{180} }{\left(1+\dfrac{0.03}{12} \right)^{180} - 1}  \approx 1,519.28

The minimum monthly payment for the loan, M ≈ $1,519.28

The total amount paid over loan term, A = n × M

∴ A ≈ 180 × $1,519.28 = $273,470

The total amount paid over loan term, A ≈ $270,470

B. When t = 20 year and r = 6%, we have;

n = 12 × 20 = 240

\therefore M = \dfrac{220,000 \cdot \left(\dfrac{0.06}{12} \right) \cdot \left(1+\dfrac{0.06}{12} \right)^{240} }{\left(1+\dfrac{0.06}{12} \right)^{240} - 1}  \approx 1,576.15

The total amount paid over loan term, A = 240 × $1,576.15 ≈ $378.276

The monthly payment, M = $1,576.15

C. When t = 30 year and r = 5%, we have;

n = 12 × 30 = 360

\therefore M = \dfrac{220,000 \cdot \left(\dfrac{0.05}{12} \right) \cdot \left(1+\dfrac{0.05}{12} \right)^{360} }{\left(1+\dfrac{0.05}{12} \right)^{360} - 1}  \approx 1,181.01

The total amount paid over loan term, A = 360 × $1,181.01 ≈ $425,163

The monthly payment, M ≈ $1,181.01

The mortgage to be chosen is the mortgage with the least total amount paid over the loan term so as to reduce the liability

Therefore;

The mortgage chosen is option A which is a 15-year mortgage term with a 3% interest rate;

The total amount paid over the loan term = $270,470

8 0
3 years ago
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