Suppose You Borrowed $12,000 at a Rate of 9% and Must

question 85

Multiple Choice

Suppose you borrowed $12,000 at a rate of 9% and must repay it in 4 equal installments at the end of each of the next 4 years.How much would you still owe at the end of the first year,after you have made the first payment?

• A)$7,636.79
• B)$8,038.73
• C)$8,461.82
• D)$9,375.98

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Definitions:

Discrete Probability Distribution

A discrete probability distribution outlines the probabilities of outcomes for discrete random variables, where outcomes are countable.

Discrete Probability Distribution

A probability distribution characterized by a set of discrete outcomes or values with corresponding probabilities.

Expected Number

The average value or mean of a random variable; it is the long-run average outcome of a random event repeated many times.

False Negative

A false negative occurs when a test incorrectly indicates that a particular condition or attribute is absent.