Goal To use recursive sequence to determine the amount money owed on a loan after months Role You are a loan officer at a mortgage company. Audience Jim and Joan Miller are customers applying for a mortgage. Situation Jim and Joan Miller are borrowing $120,000 at 6.5% per annum compounded monthly for 30 years to purchase a home. Their monthly payment is determined to be $758.48. Performance Task You need to present Jim and Joan with a report detailing the following: . A recursive formula for their balance after each monthly payment has been made. . A determination of Jim and Joan's balance after the first payment. • Use a spreadsheet or graphing utility to create a table showing their balance after each monthly payment. Determine when the balance will be below $75,000. • Determine when the balance will be paid off. Determine the interest expense when the loan is paid. Standards for Success . You will form an accurate recursive formula. ° You will accurately determine the balance after…

Math 105Z Worksheet Week 8 Instructions: Answer questions about the following contexts. You'll be graded for accuracy on problems 3 and 4 but you should try to complete the entire worksheet for full credit (see the rubric on Canvas). You'll need to upload your work as a single PDF to the appropriate assignment in Canvas. 1. A random sampling of the speeds of 12 cars monitored on a small stretch of highway yielded the following data: 45 55 50 60 60 55 60 50 70 65 55 60 (a) Find the mean speed. (b) Find the median speed. (c) Find the mode speed. (d) Construct a histogram to represent the data. 2. The mean exam score for the 24 students in section M is 72, and the mean exam score for the 30 students of section N is 78. Find the mean score for all 54 students. Page 1

Don't give answer without proper knowledge of this statistics and probability question.