math assignment help
1. Dean is planning to purchase a car for $28,560, with no down payment.
Assuming Dean qualifites for a 5 year loan at 2.9%, determine the value of his monthly payments on the car loan. Round to the nearest cent.___________
2. Determine the total amount Dean will pay for his car if he finances the purchase. $_____________
Determine the amount of interest Dean will pay the creditor over the life of the loan. $______________
3. Suppose Dean decides to save his money and buy the car later.
If he deposits the monthly payment you previously calculated into an account that pays 1.5% for 5 years.
How much will he have saved?______________
- Discuss whether Dean should buy the car now or not. Be sure to write a full paragraph, with at least five substantial sentences. Be sure to support your explanations with facts. You should express the disadvantages and advantages of each option. You should use proper grammar.
5. Most all of us indulge in some way from time to time. Many would agree that doing so occasionally is perfectly fine. However, if we indulge too much, we may find that our budgets are unbalanced. Consider Simon’s coffee habit below.
Every Monday through Friday Simon purchases a coffee beverage for $4.72 at the local Sunbucks Coffeehouse on his way to work.He does not visit Sunbucks on the weekends.
How much does he spend each week? $_______
How much would he spend in a year, assuming he goes every week? $_____
6. Instead of going to Sunbucks every day, Simon chooses to get healthy and not purchase the beverages anymore. He takes the amount he would spend per year and divides it into monthly investments.
How much does he invest each month? Round to the nearest cent. $______
Let’s see how much he would have for retirement, depending on his current age.
Assume he will retire at age 65 and is able to find an investment yielding 1.2%. Fill-in the chart, using the Savings Plan Formula. Round answers to the nearest dollar.
Simon’s Savings
25
35
45
55
7. Were you surprised by the outcomes? Can you think of another situation where you personally could change your habits and save money, like Simon did?
Be sure to write a full paragraph, with at least five substantial sentences. Be sure to support your explanations with facts. You should use proper grammar.
8. You are a member of your local apartment association. The association represents rental housing owners and managers who operate residential rental property throughout the greater metropolitan area.
Recently, the association has received several complaints from tenants in a particular area of the city who feel that their monthly rental fees are much higher compared to other parts of the city. You want to investigate the rental fees.
You gather the data shown in the table below. Area A represents the area of the city where tenants are unhappy about their monthly rents. The data represent the monthly rents paid by a random sample of tenants in Area A and three other areas of similar size. Assume all the apartments represented are approximately the same size with the same amenities.
Areas and Rent
Area A
Area B
Area C
Area D
1275
1124
1085
928
1110
954
827
1096
975
815
793
862
862
1078
1170
735
1040
843
919
798
997
745
943
812
1119
796
756
1232
908
816
765
1036
890
938
809
998
1055
1082
1020
914
860
750
710
1005
975
703
775
930
The mean of Area A is .
The median of Area A is .
The mode of Area A is .___________
The mean of Area B is .____________
The median of Area B is .___________
The mode of Area B is ._____________
The mean of Area C is ._____________
The median of Area C is .___________
The mode of Area C is .____________
The mean of Area D is .______________
The median of Area D is ._______________
The mode of Area D is ._________________
9. Do you think the complaints in Area A are legitimate? How do you think they should be addressed? What reasons might you give as to why the rents vary among different areas of the city?
10. Go to http://www.shodor.org/interactivate/activities/Coin/ which is an interactive coin tossing site. Flip the coin 100 times, 500 times, and 1000 times. Show your results by completing the table below. Write your probability answers as decimals rounded to four decimal places.
Coin Toss Data
Coin Toss
# Heads-Up
# Tails-Up
Probability Heads-Up
Probability Tails-Up
100 Flips
500 Flips
1000 Flips
11.
The Law of Large Numbers applies to a process for which the probability of an event and the results of repeated trials do not depend on results of earlier trials (they are independent).
It states: If the process is repeated through many trials, the proportion of the trials in which event A occurs will be close to the probability P(A). The larger the number of trials, the closer the proportion should be to P(A).
Write 2-3 sentences explaining how your results in the previous table illustrate the Law of Large Numbers.
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