First, we convert the interest such that it is compounded annually. The formula would be:
ieff = (1 + i/m)^m - 1
where m = 4, since there are 4 quarters in a year
ieff = (1 + 0.025/4)^4 - 1
ieff = 0.0252
Then we use this for this equation:
F = P(1 + i)^n, where F is the future worth, P is the present worth and n is the number of years
F = $600(1 + 0.0252)^15
F = $871.53
Answ
This is false
Step-by-step explanation:
At at least one die come up a 3?We can do this two ways:) The straightforward way is as follows. To get at least one 3, would be consistent with the following three mutually exclusive outcomes:the 1st die is a 3 and the 2nd is not: prob = (1/6)x(5/6)=5/36the 1st die is not a 3 and the 2nd is: prob = (5/6)x((1/6)=5/36both the 1st and 2nd come up 3: prob = (1/6)x(1/6)=1/36sum of the above three cases is prob for at least one 3, p = 11/36ii) A faster way is as follows: prob at least one 3 = 1 - (prob no 3's)The probability to get no 3's is (5/6)x(5/6) = 25/36.So the probability to get at least one 3 is, p = 1 - (25/36) = 11/362) What is the probability that a card drawn at random from an ordinary 52 deck of playing cards is a queen or a heart?There are 4 queens and 13 hearts, so the probability to draw a queen is4/52 and the probability to draw a heart is 13/52. But the probability to draw a queen or a heart is NOT the sum 4/52 + 13/52. This is because drawing a queen and drawing a heart are not mutually exclusive outcomes - the queen of hearts can meet both criteria! The number of cards which meet the criteria of being either a queen or a heart is only 16 - the 4 queens and the 12 remaining hearts which are not a queen. So the probability to draw a queen or a heart is 16/52 = 4/13.3) Five coins are tossed. What is the probability that the number of heads exceeds the number of tails?We can divide
240 is 240% of 576
240% x 240 = x
(240 x 240) divide by 100
57,600 divide by 100 = 576
x = 576