Suppose that ​$120 comma 000120,000 is owed on a house after the down payment is made. The monthly payment for principal and interest at 8.08.0​% for 30 years is 120120times•7.337657.33765 ​= ​$880.52880.52. What is the total amount that will be paid for principal and​ interest?

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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.