45 percent of all customers who enter a store will make a purchase. Suppose that 6 customers enter the store and that these cust
omers make independent purchase decisions.
1 answer:
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Answer:
$48.54
Explanation:
We must express the interest rate on a monthly basis.
i = 8 %/yr = 0.6667 %/mo = 0.006 667
A = $4000
n = 120 mo
P = 48.531
The banks round up the numbers, so Seki’s monthly payment is $48.54.