Interest

Problem: Bill needs $8000 to buy a new car in five years. How much should be deposited at the end of every quarter into an account that earns 8% interest compounded quarterly? a. $329.25 b. $345.97 c. $666.33 d. $ 489.25 e. None of the above

Interest and total cost

Problem: You buy a car with a down payment of $300 and payments of $200 per month for 3 years. If the interest rate is 12% compounded monthly what is the total cost of the car? a. $5532.14 b. $6574.20 c. $6321.50 d. $8615.38 e. None of the above

Monthly payment calculation

Problem: On Dec 31, a house is purchased with the buyer taking out a 30-year $90,000 mortgage at 9% interest compounded monthly. The mortgage payments are made at the end of each month. Calculate the amount of the monthly payment. a. $724.16 b. $1356.37 c. $1365.69 d. $1355.91 e. None of the above

Probability, Statistics & Finance

Problem: The APR for a 30 year, $250,000 mortgage at 6% interest compounded monthly and two discount points is: A. 6.25% b. 6.19% c. 6.12% d. 5.87% e. None of the above

Probability, Statistics

Problem: A five-number summary for a box plot includes which of the following? a. Q1, Q2, Q3, Q4, total b. Min, median, max, average, frequency total c. Q1, Q2, Q3, Q4, average d. min, Q1, Q2, Q3, max e. None of the above

Probability and Statistics

Question: Quartiles are measures used in constructing what? a. box plots b. historgrams c. frequency tables d. pie charts e. None of the above

Statistics - Z

Problem: If Z is the standard normal random variable and Pr(-z < Z < z) = 0.6578, then z is? a. 1.00 b. 0.45 c. 0.95 d. 0.40 e. None of the above

Probabilities

Problem 4. Let X denote the number of boys in a family with four children. Pr(X > 3) is? a. 5/16 b. ¼ c. 11/16 d. 2/3 e. None of the above

Test averages

Your score on three tests are 76,88, and 72. Your grade on the final exam will count twice as much as any one test grade in determining your average grade for the course. in order for your average grade for the course to be 82, your grade on the final exam must be: a. 85 b. 87 c. 77 d. 92

Probability

1. There are 3 boxes. Each box contains several envelopes. Some envelopes have "you lose" written on them. The rest say "you win…" . However, of the ones that say "you win…" , some contain only a piece of paper saying "… nothing" . Each of the other contains a $5 bill. The first box contains 3 "lose" envelopes and 2 so-called ...continues