The expected value if I have to pick one package given the price I would have to pay is $0.11.
<h3>What is the expected value?</h3>
The expected value is the cost you would have to pay subtracted from the total value of one package.
Total value of one package =[ (15 x 0.60) + (5 x 0.3) + (20 x 0.7)]/ (20 + 15 + 5) = $0.61
Expected value = $0.61 - $0.50 = $0.11
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Present value of annuity PV = P(1 - (1 + r/t)^-nt) / (r/t)
where: p is the monthly payment, r is the APR = 14.12% = 0.1412, t is the number of payments in one year = 12, n is the number of years = 2.
1,120.87 = P(1 - (1 + 0.1412/12)^(-2 x 12)) / (0.1412 / 12)
0.1412(1120.87) = 12P(1 - (1 + 0.1412/12)^-24)
P = 0.1412(1120.87) / 12(1 - (1 + 0.1412/12)^-24) = $53.88
Minimum monthly payment = 3.15% of 1120.87(1 + 0.1412/12) = 0.0315 x 1120.87(1 + 0.1412/12) = $35.72
Therefore, his first payment will be greater than the minimum payment by 53.88 - 35.72 = $18.16
Answer:
5/9-1/9=4/9
Step-by-step explanation:
5/9 chose basketball or soccer. 1/9 chose basketball.
<h3>answer is 4/9</h3>
