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A company borrows $40,000 and issues a 3-year, 10% installment note with interest payable annually. The factor for the present value of an annuity at 10% for 3 years is 2.4869. The factor for the present value of a single sum at 10% for 3 years is 0.7513. The amount of the annual payment is $12,000.
Continuous Random Variable
A variable that can assume an infinite number of values within a specific range and is used in probability and statistics.
Homes Sold
The number of residential properties that have been sold over a specific period of time.
Discrete Random Variable
A variable that can only take on a finite or countably infinite set of distinct values, often representing counts or categories.
Standard Deviations
The measure of the dispersion or spread of data points in a data set from its mean, reflecting how much variation there is from the average.
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