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Nady [450]
2 years ago
8

Help please its my last one!

Mathematics
1 answer:
Elden [556K]2 years ago
5 0

Using compound interest, it is found that they must deposit $9,143.47 in order to have the desired amount.

<h3>What is compound interest?</h3>

The amount of money earned, in compound interest, after t years, is given by:

A(t) = P\left(1 + \frac{r}{n}\right)^{nt}

In which:

  • A(t) is the amount of money after t years.
  • P is the principal(the initial sum of money).
  • r is the interest rate(as a decimal value).
  • n is the number of times that interest is compounded per year.

For this problem, the parameters are:

A(15) = 30000, r = 0.08, n = 4

Then we solve for P to find the initial deposit:

A(t) = P\left(1 + \frac{r}{n}\right)^{nt}

30000 = P\left(1 + \frac{0.08}{4}\right)^{4 \times 15}

P = \frac{30000}{(1.02)^{60}}

P = $9,143.47.

More can be learned about compound interest at brainly.com/question/25781328

#SPJ1

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Step-by-step explanation:

Previous concepts

A Bernoulli trial is "a random experiment with exactly two possible outcomes, "success" and "failure", in which the probability of success is the same every time the experiment is conducted". And this experiment is a particular case of the binomial experiment.

The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".

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Solution to the problem

Let X the random variable of interest, on this case we now that:

X \sim Binom(n=15, p=0.25)

For this case we can use the probability mass function and we got:

P(X= 5) = (15C5) (0.25)^{5} (1-0.25)^{15-5}= 0.165

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<h2>I hope this helps, and stay safe!! :)</h2>
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