Answer:
0.964
Step-by-step explanation:
It's easier to approach this problem if you find the prob. that z is less than -1.8 and then subtract your result from 1.00.
The prob. that z is less than -1.8 can be found using any calculator with probability and statistic functions.
The prob. that z is less than -1.8 = normcdf(-100,-8) = 0.036. Here "cdf" stands for "cumulative probability density function)," -100 is far to the left of z = -1.8, and the result (0.036) is the area under the standard normal probability density curve to the left of z = -1.8.
Finally, subtract this 0.036 from 1.000, obtaining 0.964. This is the probability that z is greater than -1.8.
Answer: a) $778.67 b) 19 years
Step-by-step explanation:
The formula you would use is
where a is the amount
n is the length of time
P is the principle
and r is the rate in decimal form
a)
b)
put your initial equation into a graphing calculator and use the table function to find that after 18 years it is worth 117 and in 19 years 86-
