PROJECT – DESCRIPTION
The project contains two parts. Please complete both parts and upload the full project in Canvas by 4/23/24.
Do an internet and library search and then describe/critique at least four types of mortgages in your own words. Please describe any necessary conditions a borrower should meet to apply for them. The project must include the headings given in the rubrics below and at least two references from the internet. It can be hand-written or typed with double space and a 12-size font and should be at most four pages.
Rubrics:
Names of the mortgages: 2 pts
Description of the mortgages: 4 pts
Which mortgage do you think is the best and why: 2 pts.
References: 2 pts
You must follow the following Submission Format.
Format for question a:
Title: Names of the mortgages
Answer: ………………………………..
Format for question b:
Description of mortgages
Description …………………………………………………………, and so on for the remaining parts.
Write down the Binomial Probability Formula and define all the terms in it. And then solve the following problem using the formula.
A family has five children. The probability of having a girl is (1/2). What is the probability of having exactly 2 girls and 3 boys? (Give your answer to four decimal places.)
Rubrics:
Binomial Probability Formula:2 pts.
Definition of terms in the formula: 2 pts.
Calculating the probabilities of success (p) and failure (q) in the formula: 2 pts.
Solution and Final Answer: 4 pts.
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