Jerry’s new car has a list price of $22,415. the sales tax in jerry’s state is 8.75%, and he is responsible for a $1,925 vehicle licensing fee and a $79 documentation fee. jerry plans to make a down payment of $3,000 and finance the rest at an interest rate of 10.86%, compounded monthly. if jerry’s financing plan spans three years, what will his monthly payment be? a. $732.35 b. $959.93 c. $769.62 d. $763.89

the answer   is 200

step-by-step explanation:

this is a problem about poisson probabilities.   i don't know if you've

already studied poisson distributions, or if you have a place to look

to read more about the subject.  

here's how you can see a poisson distribution coming.   when there are

a lot of events that may happen at any time (or any place), and when

you're counting how many of them happen at a particular time (or a

particular place), and each event is independent of the others, then

the result is a poisson distribution.   this is roughly true for the

chocolate chips; one chip being in a cookie has only a small effect on

the probability that another chip will be in the cookie.

once you know you have a poisson distribution, you know a lot.   there

is only one parameter to a poisson distribution, so if you know the

mean, you know everything.   the form of the distribution is

  probability of n chips = {[e^(-x)]*(x^n)} / (n! )