math 101

#1Thinking about Kevin O’Leary’s explanation of compound interest, what are your thoughts on the following: https://www.cnbc.com/2019/02/11/how-compound-interest-works-and-how-it-can-help-you-save-money.html

• Compound interest is normally compounded monthly. If you left $10,000 in the bank at 2% interest, would you earn the same amount of interest every month? Explain why.
• Consider a mortgage at 3.5% interest compounded monthly? Would your interest charge for the last month be the same as your charge for the first month in your mortgage?
• Why does Kevin O’Leary encourage you to stop buying things you don’t need and deposit that money in a savings account?

Instructions:

• Your initial post (approximately 200-250 words) should address each question in the discussion directions and is due by 11:59 PM Central Time on Wednesday. 

#2Large purchases can be difficult on a limited budget for many families. Often families turn to credit cards and personal loans to finance their debt.

Credit cards are known to carry quite large APR’s 18.99%-26.99%, while personal loans can be a little more generous at 4.99%-15.99%, depending on your credit score. However, some credit cards carry useful benefits such as 0% introductory APR or deferred interest for store-specific credit cards (examples: Best-Buy, Home-Depot, etc).

Research a few credit cards that provide 0% introductory APR and some that carry deferred interest.

Why might carrying a large balance on a credit card be a bad idea? How much do you think you could save with a 0% APR card When might you want to use a deferred interest card instead? What are some of the drawbacks of a deferred interest credit card?

Instructions:

• Your initial post (approximately 200-250 words) should address each question in the discussion directions and is due by 11:59 PM Central Time on Wednesday. 

#3Permutations and combinations are often tricky to differentiate from each other. First, define the two terms in your own words. Then determine whether each of the following is a permutation or combination. With each example, you should have two sentences explaining why.

• The number of ways a lottery prize can be distributed between 500 people.
• The number of distinct ways a class president, secretary, and treasurer can be selected from a group of 100 students.
• The number of passwords that can be created with four digits, where order matters.
• The number of ways to arrange the top ten students in MTH-101, without taking ranking into account.

Instructions:

• Your initial post (approximately 200-250 words) should address each question in the discussion directions and is due by 11:59 PM Central Time on Wednesday. 

#4Have you ever watched Let’s Make a Deal? One of the games is based on a famous problem in probability. The game goes like this:

• You have three doors. Under one door is a car and under two doors is a gag prize (known as a Zoink!)
• You can choose one of the three doors (A, B, C).
• Once you choose one of the three doors, the host (who knows where the prize is) closes one of the doors that does not contain the prize (so if you choose A, the host might close B if he/she knows the prize isn’t there).
• You are prompted to keep the first door or switch to the remaining door?

Which option do you pick? How does this relate to conditional probability?

Instructions:

• Your initial post (approximately 200-250 words) should address each question in the discussion directions and is due by 11:59 PM Central Time on Wednesday.