Unformatted text preview: 19. Katie bought a house in 2000 for $300,000. She ﬁnanced it with a 30 year mortgage at an annual interest rate of 7.25%
compounded monthly on the unpaid balance.
(a) What are her current monthly payments? (b) After making six years of payments she decides to reﬁnance her home in 2006 with a 30 year mortgage that has an annual
interest rate of 5.25% compounded monthly on the unpaid balance. What are her new monthly payments? (c) How much total interest will she end up paying for this house? 20. The independent probabilities that Jenny, Karen, and Lindsay will attend class are 0.35, 0.95, and 0.76, respectively. What is
the probability that exactly two of the girls will attend class? 21. Graph the system of linear inequalities:
6x + 2y ≤ 10
16x − 8y ≥ 24
0≤x≤3 22. A jar contains 10 pennies and 5 dimes. Three coins are randomly selected from the jar. Let X represent the value of the three
coins (i.e. how much money you have). Find the probability distribution of X . 5 ...
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- Fall '08
- Probability space, unpaid balance