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Using it's formula, it is found that the monthly payments for the loan of the apartment is of $7,260.50.
<h3>What is the monthly payment formula?</h3>It is given by:
In which:
- P is the initial amount.
- r is the interest rate.
- n is the number of payments.
In this problem, the parameters are given as follows:
P = 500000, r = 0.123, n = 12 x 10 = 120.
Hence:
r/12 = 0.123/12 = 0.01025.
Then, the monthly payments will be of:
A = 7260.50.
More can be learned about the monthly payment formula at brainly.com/question/26267630
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Answer:
The number of standard deviations from $1,158 to $1,360 is 1.68.
Step-by-step explanation:
Problems of normally distributed samples are solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
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 pvalue, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
The number of standard deviations from $1,158 to $1,360 is:
This is Z when X = 1360. So
The number of standard deviations from $1,158 to $1,360 is 1.68.