Answer: her monthly payments would be $267
Step-by-step explanation:
We would apply the periodic interest rate formula which is expressed as
P = a/[{(1+r)^n]-1}/{r(1+r)^n}]
Where
P represents the monthly payments.
a represents the amount of the loan
r represents the annual rate.
n represents number of monthly payments. Therefore
a = $12000
r = 0.12/12 = 0.01
n = 12 × 5 = 60
Therefore,
P = 12000/[{(1+0.01)^60]-1}/{0.01(1+0.01)^60}]
12000/[{(1.01)^60]-1}/{0.01(1.01)^60}]
P = 12000/{1.817 -1}/[0.01(1.817)]
P = 12000/(0.817/0.01817)
P = 12000/44.96
P = $267
Answer:
Check pdf
Step-by-step explanation:
Answer:
a) 8*88*10⁻⁶ ( 0.00088 %)
b) 0.2137 (21.37%)
Step-by-step explanation:
if the test contains 25 questions and each questions is independent of the others, then the random variable X= answer "x" questions correctly , has a binomial probability distribution. Then
P(X=x)= n!/((n-x)!*x!)*p^x*(1-p)^(n-x)
where
n= total number of questions= 25
p= probability of getting a question right = 1/4
then
a) P(x=n) = p^n = (1/4)²⁵ = 8*88*10⁻⁶ ( 0.00088 %)
b) P(x<5)= F(5)
where F(x) is the cumulative binomial probability distribution- Then from tables
P(x<5)= F(5)= 0.2137 (21.37%)
The answer is 4 1/2 (four and a half).
