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ozzi
3 years ago
8

. A condo in Orange Beach, Alabama, listed for $1.4 million with 20% down and financing at 5% for 30 years. What is the monthly

payment?
Mathematics
1 answer:
vovikov84 [41]3 years ago
8 0
Listed price = $1.4 million
Down payment = 20% of $1.4 million = 0.2 x 1,400,000 = 280,000
Amount left to pay = $1.4 million - 280,000 = $1,120,000
Present value of an annuity is given by PV = P(1 - (1 + r/t)^-nt) / r
where: PV = $1,120,000
r = 5% = 0.05
t = 12
n = 30 years.
1,120,000 = P(1 - (1 + 0.05/12)^-(12 x 30)) / 0.05
1,120,000 x 0.05 = P(1 - (1 + 1/240)^-360)
56,000 = P(1 - 0.2238)
P = 56,000 / 0.7761 = 72,148.83
Therefore, the monthly payment is $72,148.83
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g The average midterm score of students in a certain course is 70 points. From the past experience it is known that the midterm
spayn [35]

Answer:

0.98 = 98% probability that the average midterm score of these students is at most 75 points.

Step-by-step explanation:

To solve this question, we need to understand the normal probability distribution and the central limit theorem.

Normal Probability Distribution:

Problems of normal distributions can be solved using the z-score formula.

In a set with mean \mu and standard deviation \sigma, the z-score of a measure X is given by:

Z = \frac{X - \mu}{\sigma}

The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

Central Limit Theorem

The Central Limit Theorem estabilishes that, for a normally distributed random variable X, with mean \mu and standard deviation \sigma, the sampling distribution of the sample means with size n can be approximated to a normal distribution with mean \mu and standard deviation s = \frac{\sigma}{\sqrt{n}}.

For a skewed variable, the Central Limit Theorem can also be applied, as long as n is at least 30.

The average midterm score of students in a certain course is 70 points.

This means that \mu = 70

29 students are randomly selected and the standard deviation of their scores is found to be 13.15 points.

This means that \sigma = 13.15, n = 29, s = \frac{13.15}{\sqrt{29}} = 2.44

Find the probability that the average midterm score of these students is at most 75 points.

This is the pvalue of Z when X = 75. So

Z = \frac{X - \mu}{\sigma}

By the Central Limit Theorem

Z = \frac{X - \mu}{s}

Z = \frac{75 - 70}{2.44}

Z = 2.05

Z = 2.05 has a pvalue of 0.98.

0.98 = 98% probability that the average midterm score of these students is at most 75 points.

8 0
3 years ago
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LuckyWell [14K]

Answer:

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Step-by-step explanation:

We can find the slope of a line using two points by

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    (3-2) /( 4+1)

     1/5

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a. 8:21

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Answer:

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Step-by-step explanation:

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