a family is saving for their childrens education. they want to have $80000 eight years from now. a) how much do they need to deposit each month into an account earning 7.2% interest compounded monthly? b) what is the interest earned on the account?
Contingency Table
A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.
Binomial Distribution
Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.
a family is saving for their childrens education. they want to have $80000 eight years from now.
a) how much do they need to deposit each month into an account earning 7.2% interest compounded monthly?
b) what is the interest earned on the account?
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