We can use the formula for binomial
distribution in calculating for the probability that exactly two customers out
five will default on their payments.
The formula is:
P(r) = nCr*q^(n-r)*p^r
Where:
n = sample size, 5
r = successes, 2
q = failure rate, 96% = 0.96
r = success rate, 4% = 0.04
Substituting on the formula:
P = 5C2*0.96^3*0.04^2
<span>P = 0.0142 or 1.42%</span>
Answer:
True movies is pursuing an integration strategy.
Explanation:
"Integrated marketing is the process of delivering a consistent and relevant content experience to your audience across all channels. [...] The ultimate goal of integrated marketing is a consistent, customer-centred experience that delivers results for your brand."
Reference: NewsCred. “What Is Integrated Marketing?” Insights, 7 Oct. 2019
Answer:
The principle balance after the first interest period, if the payment took place is $789,390.
Explanation:
First, we have to find out how much are you paying in interest, and since you have a 6% and the terms provided mention semi-annual installment payments, we have to turn that 6% compounded semi-annually to effective semi-annually (simply divide by 2) and that is 3%. That means that the interest ($) for 800K for the first period is equal to:
$800,000 x 0.03 = $24,000
After the first interest period, and assuming that the payment took place, the principal balance would be.
Initial Balance $800,000
Interest $ 24,000
(-) payment -$ 34,610
<em><u>Final balance $ 789,390 </u></em>
<em><u /></em>
You could do this with an amortization table, I made one for you, see the attached MS Excel file.
Best of luck.
