Answer:
The new mortgage repayment is $10,580.69
Step-by-step explanation:
As at the time Douglas lost his job,he has already made repayments on the mortgage for a period of 7 years,by extending the repayment period by another 7 years,Douglas now have a period of repayment of 30 years now(30-7+7).
The new repayment yearly can be computed using the pmt formula in excel as given below:
=pmt(rate,nper,-pv,fv)
rate is the interest rate on mortgage given as 4.25%
nper is the period of repayment now 30 years
pv is the current of balance of $177,533.62
fv is the total amount repayable on the mortgage and it is not known hence taken as zero
=pmt(4.25%,30,-177533.62,0)=$10,580.69
ANSWER:
E[X] ≈ m ln m
STEP-BY-STEP EXPLANATION:
Hint: Let X be the number needed. It is useful to represent X by
m
X = ∑ Xi
i=1
where each Xi is a geometric random variable
Solution: Assume that there is a sufficiently large number of coupons such that removing a finite number of them does not change the probability that a coupon of a given type is draw. Let X be the number of coupons picked
m
X = ∑ Xi
i=1
where Xi is the number of coupons picked between drawing the (i − 1)th coupon type and drawing i th coupon type. It should be clear that X1 = 1. Also, for each i:
Xi ∼ geometric
P r{Xi = n} =
Such a random variable has expectation:
E [Xi
] =
= 
Next we use the fact that the expectation of a sum is the sum of the expectation, thus:
m m m m
E[X] = E ∑ Xi = ∑ E Xi = ∑
= m ∑
= mHm
i=1 i=1 i=1 i=1
In the case of large m this takes on the limit:
E[X] ≈ m ln m
Answer:
4
Step-by-step explanation:
No I guess sorry if you get it wrong
Answer:
X=0,X=-3/7
Step-by-step explanation:
7x^2+3x=0
x(7x+3)=0
x=0
7x+3=0
7x=-3
x=-3/7.