Rodrigo has just finished paying back his $8575 unsubsidized Stafford loan, which he took out to fund his 4-year degree. The loan had a duration of ten years and an interest rate of 7.1%, compounded monthly. Rodrigo will allow interest capitalization. If Rodrigo made monthly payments to pay off his loan, how much interest did he pay in total?

step-by-step explanation:

i think it is 70

step-by-step explanation:

tangent

step-by-step explanation:

85.560%

step-by-step explanation:

conditional probability is defined as:

p(a|b) = p(a∩b) / p(b)

in other words, the probability that a occurs, given that b has occurred = the probability that both a and b occur / the probability that b occurs.

in this example:

p(turns 64 | turns 44) = p(turns 64 & turns 44) / p(turns 44).

if someone turns 64, they must have already turned 44, so:

p(turns 64 | turns 44) = p(turns 64) / p(turns 44)

on page 42, we see that of the original 100,000, 94944 turn 44, and 81234 turn 64.   therefore:

p(turns 64 | turns 44) = 81234 / 94944

p(turns 64 | turns 44) = 0.85560