Suppose you owe $19,000 on a credit card that carries an APR of 24%. Because the balance is so high, you choose to stop charging and pay off the card. You can afford to make only the minimum monthly payment, which is 5% of the balance. Ther your balance after t months is given by B = 19,000(1.02 x0.95) dollars. How many payments will you have to make to get the balance below $300? (Enter the smallest such number of payments as an integer.) payments

Q: An art dealer buys a rare painting for $100000 and resells it for $125000. Express her profit as a…

A: An art dealer buys a rare painting for $100000 and resells it for $125000. To express her profit as…

Q: B. Direction: Complete the table by filling up the columns with the required values. R i(m) m n…

A: The formula for finding the face value is, F=R1+jn-1j Where, R=Regular paymentj=imm, where…

Q: Suppose that one year, the inflation rate for consumption goods was approximately 3%. If this rate…

A: Given problem:- Suppose that one year, the inflation rate for consumption goods was approximately…

Q: Nancy wants to invest 2000 in saving certificates that bear an interest rate of 8.75% per year,…

A:

Q: The length t (in years) of a home mortgage of $150,000 at 8% interest can be approximated by the…

A: Hello! As you have posted more than 3 sub parts, we are answering the first 3 sub-parts.  In case…

Q: Complete the table to determine the balance A for P dollars invested at rate r for t vears and…

A:

Q: Suppose you make an investment of $1000 that you are not allowed to cash in for 10 years.…

A: Principle amount invested = $10000investment decreases by 10% each year∴ Rate of interest…

Q: A car is worth $16,500 when it is three years old and $12,000 when it is six years old. Solve for…

A: to find:- Depreciated amount after each year.

Q: Dismas borrows 60,000, which he plans to pay back by level payments of 500 per month while being…

A: The principal amount borrowed by D , P=Rs.60,000 The annual rate of interest is given by, r=7% After…

Q: Nathan and Stephanie are saving for their daughter's college education. Their daughter, Paige, is…

A: Let us start solving the problem step by step  With the help of excel)

Q: Suppose that you decide to purchase a home and you secure a 30-year, $335,000 loan at an annual…

A:

Q: An investment income of $50,000 increases at a rate of 8.3% per year. Find the value of the…

A: Given query is to find the value of the investment after 20 years.

Q: Jerome will be buying a used car for $6,000 in 2 years. How much money should he ask his parents for…

A:

Q: Max was injured and can no longer work. As a result of a lawsuit, he is to be awarded the present…

A: Concept: We have the present value (PV) If the rate of receipt of revenue from time t=a to b is R(t)…

Q: Find the cost of purchasing an annuity that pays $45,000 a year for 25 years and the payments start…

A: Here we have formula to find out the interest rate, ∫  f(t)e-rtdt

Q: A student graduate from college with 51,000 in student loans with a 6.8% and you simple interest…

A: Simple interest problem....

Q: Jerod hopes to earn $1100$⁢1100 in interest in 2.22.2 years time from $22,000$⁢22,000 that he has…

A:

Q: Consider having a personal loan that spans 50 years. The loan was only taken out for $1000, but the…

A: Consider having a personal loan that spans 50 years. The loan was only taken out for $1000, but the…

Q: Find the interest paid on a 30-year mortgage of $350,000 at an APR of   6%.

A: Given, interest paid on a 30-year mortgage of $350,000 at an APR of   6%.

Q: for a sum of $8000 to double in 12 years and 9 months, what must be the rate of interest compounded…

A: The solution is given in the next step.

Q: Tony is evaluating his retirement savings. He currently has $318,000 in his account, which earns an…

A: The solution for the above question is as shown below.

Q: During a 10-year period of constant inflation, the value of a $400,000 property will increase…

A: Given that v = 400,000e0.09t, So substitute t = 6 for finding the value after 6 years. The original…

Q: You take out a $12,000 car loan that has a 3.5% annual simple interest rate. Write an equation for…

A:

Q: Invest an amount of 400 dinars for a period of two years. If you know that his compound interest…

A:

Q: You have $5000 to invest and are given the following options. Arrange the options in order based on…

A:

Q: Avery is looking to buy a car and the she qualified for a 8-year loan from a bank offering an annual…

A: Given formula is: M=Pr1+rn1+rn-1 where M is monthly payment P=the amount borrowed r=the interest…

Q: Suppose a man takes out a $350 loan from a pawn shop, and the loan must be paid off with a single…

A:

Q: You want to save $20,000 for a down payment on a home by making regular monthly deposits over five…

A:

Q: The couple received an annual rate of % that year on their investment. We can display the facts of…

A: Given data-1: Principal P= 15000 Time t=1 year Simple interest = 1125 To find the rate of interest…

Q: Tandra's grandparents would like to sell her their second home in 10 years for the present market…

A:

Q: In order to save for her high school graduation, Marie decided to save P200 at the end of each…

A: Given: Monthly amount (R) = 200 Monthly interest rate (i') = 0.000208 Time in months (n) = 72

Q: How long will it take an investment of $2000 to double if the investment earns interest at the rate…

A:

Q: Pls help

A:

Q: The cost for maintaining a car cost as follows: 2 years- 20,000 4 years- 40,000 8 years- 80,000…

A: The formula for compound interest is A = P(1 + r/n)^nt, where P is the principal balance, r is the…

Q: Approximately how long it would take an investment of 5,000 to double with an interest rate of 3.5%

A: Given that, Investment or principal (P) = 5000 Rate of interest (r) = 3.5% Amount (A) = 2 x 5000 =…

Q: Jerome will be buying a used car for $7,000 in 2 years. How much money should he ask his parents for…

A: Given:

Q: An investment of $3000 increases at a rate of 3% per year What is the value of the investment after…

A: Topic = Algebra The value of the investment after 30 years is $5700.

Q: You have $5000 to invest and are given the following options. Arrange the options in order based on…

A: Use compound interest formula

Q: What is the actual rate of interest if RO 4000 deposited for 3 years attracts interest of RO 1440?…

A: Interest = I = 1440 Principal Value = P = 4000 Time =T = 3

Q: Sung Lee invests $8,000 at age 18. He hopes the investment will be worth $32,000 when he turns 25.…

A: Given: P=$8000t=25-18=7 yearsA=$32000

Q: A sum of money invested at compound interest doubles itself in 3 years. In how many years will it…

A: B) 9 years

Q: 8. You have $5000 toward the purchase of a boat that will cost $6000. How long will it take the…

A: the amount A=$6000 The principal P invested is $5000 rate of interest r = 5% use the compound…

Q: Suppose you plan to purchase a new car after selling your old car for scrap. The value of the new…

A: Purchase price for the new car is $19200 and selling price for the scrap is $800.  We have to start…

Q: The principal P is borrowed and the loan's future value, A, at time t is given. Determine the loan's…

A:

Q: Suppose that you borrow $10,000 for four years at 8% toward the purchase of a car. Find the monthly…

A:

Q: Jerome will be buying a used car for $11,000 in 2 years. How much money should he ask his parents…

A: Explained below

Q: Jerome will be buying a used car for $12,000 in 2 years. How much money should he ask his parents…

A:

Q: Suppose that you decide to purchase a home and you secure a 30-year, $260,000 loan at an annual…

A: Given problem:- Suppose that you decide to purchase a home and you secure a 30-year, $260,000 loan…

Q: A total of $40,000 is invested in two municipal bonds that pay 4.25% and 5.75% simple interest. The…

A:

Q: James has a monthly income of $3,300. He also has a monthly rent payment of $800, a monthly and…

A: The debt to income ratio can be calculated by dividing the total debt by the income. The formula for…

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.