A physician assistant's student loan balance will be reduced by 12% and payments will be postponed each year that the physician assistant works in a designated high-need area.
Cameron is a physician assistant.
Cameron has a $60,000 student loan balance when he graduates.
Cameron works in a designated high-need area for 2 years and makes no loan payments.
What is Cameron's student loan balance at the end of the 2 years?
After 1 year of working in a designated high-need area, Cameron's student loan balance will be reduced by 12%, which is $60,000 * 0.12 = $7,200.
So, after 1 year, Cameron's student loan balance will be $60,000 - $7,200 = $52,800.
After 2 years of working in a designated high-need area, Cameron's student loan balance will be reduced by another 12%, which is $52,800 * 0.12 = $6,336.
So, at the end of the 2 years, Cameron's student loan balance will be $52,800 - $6,336 = $46,464.
The table shows the results of randomly selecting a colored cube from a bag 80 times. The cube was returned to the bag after each selection.
Blue Orange Purple Red Yellow
Number of Times Selected 14 8 16 24 18
Based on these results, what is the expected probability of randomly selecting a red cube from the bag in one attempt?