22 = z + (-9) Switch the sides
z = 22 - (-9) Solve
z = 31 So, z = 31
The monthly payment on the mortgage is option C) $2537.44
<u>Step-by-step explanation</u>:
- Principal (P): $
295,000
- Rate (r): 6.3% = 0.063
- Number of times compounded (n): 12months
15 years = 180
- Number of years = 15
The formula is A = P(1 + r/n)^nt
⇒ A = 295000(1+0.063/180)^(180
15)
⇒ A = 295000(180.063/180)^2700
⇒ A = 295000 (1.00035)^2700
⇒ A = 758854.5
Interest = Amount - Principle
⇒ 758854.5 - 295000
⇒ Interest = 463854.5
∴ The monthly payment for 15 years = 463854.5 / (15
12)
The monthly payment on the mortgage = 2576.9 (approximately option C)
Answer:
We can find the individual probabilities:
And replacing we got:
![P(X \geq 5) = 1-[0.00114+0.009282+0.0358+0.0869+0.149]= 0.7178](https://tex.z-dn.net/?f=P%28X%20%5Cgeq%205%29%20%3D%201-%5B0.00114%2B0.009282%2B0.0358%2B0.0869%2B0.149%5D%3D%200.7178)
Step-by-step explanation:
Previous concepts
The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".
Solution to the problem
Let X the random variable of interest, on this case we now that:
The probability mass function for the Binomial distribution is given as:
Where (nCx) means combinatory and it's given by this formula:
And we want to find this probability:

And we can use the complement rule:
We can find the individual probabilities:
And replacing we got:
![P(X \geq 5) = 1-[0.00114+0.009282+0.0358+0.0869+0.149]= 0.7178](https://tex.z-dn.net/?f=P%28X%20%5Cgeq%205%29%20%3D%201-%5B0.00114%2B0.009282%2B0.0358%2B0.0869%2B0.149%5D%3D%200.7178)
Answer: What do you need, what grade are you in?
Step-by-step explanation: