4.2% means 0.042 .
4.2% more than some amount is 1.042 of it.
Interest compounded annually means that a year after you deposit some money
into your bank account, the bank looks to see how much of your money has been
there for a year, and they add 4.2% of that into your account. Another way to
look at it is that they change the balance in your account, from the amount it was
a year ago, to 1.042 of that amount. That's right. They just <u>give</u> you free money !
Why that's so good is: Now the new amount in your account is 1.042 of
the amount you originally deposited, and after another year, they'll give you
another 4.2% of <em><u>that</u></em> larger amount. Then you'll have (1.042)² = about <em><u>
8.6% more</u></em><em /> than your original deposit, 2 years earlier.
At the end of any number of years ... call it 't' years ... the amount in your
account is the amount you deposited, multiplied by (1.042)^'t' power.
If you just put some money into this particular bank, and forget about it
and never touch it, you'll have <em><u>double</u></em> the amount in 17 years.
Now we can go and take care of Rhonda.
She put $3000 into a new account at the the bank, and then she forgot
about it and never touched it. How much is in that account after 't' years ?
The amount that's in that account at any time is called the 'balance'.
How much is it after 't' years ?
<em> Balance = 3,000 (1.042)^'t' power .</em>
Answer:
14
Step-by-step explanation:
All you need to do is turn 70% into a decimal which is .70
Then multiply .70 and 20
.70*20
which gives you 14
Answer:
927/5
Step-by-step explanation:
100%/20=5 so just divide by 5
Answer:
Point form : (2,-1)
Equation form : x=2,y=-1
Step-by-step explanation: Solve for the first variable in one of the equations, then substitute the result into the other equation.
Hope this helps you out! ☺
-Leif Jonsi-
Answer:
Check the explanation
Step-by-step explanation:
Let 
be the indicator random variable that takes the value 1 if the ith coin is the first coin in a sequence of 19 consecutive heads.
For any sequence of length 19, the starting coin can be from toss i ,
such that i is between 1 and n - 19+1
Thus the number of such sequences is
Kindly check the attached image below for the step by step explanation to the question above.
