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lys-0071 [83]
3 years ago
5

Frank has four different credit cards, the balances and interest information of which are outlined in the table below. He would

like to consolidate his credit cards to a single credit card with an APR of 18% and pay off the balance in 24 months. What will his monthly credit card payment be?
Credit Card Balance APR A $2,380 19% B $4,500 15% C $1,580 17.50% D $900 21%

a. $390.00 b. $462.91 c. $467.29 d. $52.00
Mathematics
2 answers:
Free_Kalibri [48]3 years ago
7 0

The correct answer would be option <u><em>C) $467.29. </em></u>I just did the exam on Edge and got it right.

Brums [2.3K]3 years ago
6 0

Answer:

  c.  $467.29

Step-by-step explanation:

The total of balances is $9360. The payment can be computed using the amortization formula:

  A = P(r/12)/(1 -(1 +r/12)^-n)

where A is the monthly payment, P is the principal (total balance), r is the annual rate, and n is the number of months.

Filling in your numbers, we have ...

  A = $9360(0.18/12)/(1 -(1 +0.18/12)^-24) ≈ $467.29

Frank's monthly credit card payment will be $467.29.

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For each given p, let ???? have a binomial distribution with parameters p and ????. Suppose that ???? is itself binomially distr
pshichka [43]

Answer:

See the proof below.

Step-by-step explanation:

Assuming this complete question: "For each given p, let Z have a binomial distribution with parameters p and N. Suppose that N is itself binomially distributed with parameters q and M. Formulate Z as a random sum and show that Z has a binomial distribution with parameters pq and M."

Solution to the problem

For this case we can assume that we have N independent variables X_i with the following distribution:

X_i Bin (1,p) = Be(p) bernoulli on this case with probability of success p, and all the N variables are independent distributed. We can define the random variable Z like this:

Z = \sum_{i=1}^N X_i

From the info given we know that N \sim Bin (M,q)

We need to proof that Z \sim Bin (M, pq) by the definition of binomial random variable then we need to show that:

E(Z) = Mpq

Var (Z) = Mpq(1-pq)

The deduction is based on the definition of independent random variables, we can do this:

E(Z) = E(N) E(X) = Mq (p)= Mpq

And for the variance of Z we can do this:

Var(Z)_ = E(N) Var(X) + Var (N) [E(X)]^2

Var(Z) =Mpq [p(1-p)] + Mq(1-q) p^2

And if we take common factor Mpq we got:

Var(Z) =Mpq [(1-p) + (1-q)p]= Mpq[1-p +p-pq]= Mpq[1-pq]

And as we can see then we can conclude that   Z \sim Bin (M, pq)

8 0
3 years ago
5. What ordered pair represents the
Gekata [30.6K]

Answer:

B

Step-by-step explanation:

The equation of a line in slope- intercept form is

y = mx + c ( m is the slope and c the y- intercept )

y = x + 1 ← is in slope- intercept form

with c = 1, thus

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2 years ago
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Answer:£149

Step-by-step explanation:

8 0
2 years ago
Work out the perimeter of a quarter-circle with radius 7cm.
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Answer:

25

Step-by-step explanation:

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7 0
3 years ago
Read 2 more answers
A football is thrown by a quarterback to a receiver. The points in the figure show the height of the​ football, in​ feet, above
nevsk [136]

Answer:

Coordinates of the point B will be (14, 3.5).

Step-by-step explanation:

From the graph attached,

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Therefore, coordinates of the point B will be (14, 3.5).

6 0
3 years ago
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