Answer:
C. x = 3/13
Step-by-step explanation:
Answer:
a) amount in the bank after 7 years if interest is compounded quarterly is $6,605
b) amount in the bank after 7 years if interest is compounded quarterly is $6,612.57
Step-by-step explanation:
We are given:
Principal Amount P= 5000
Rate r= 4% = 0.04
time t = 7 years
The formula used is: 
where A is future value, P is principal amount, r is rate, n is compounded value and t is time
a) Find the amount in the bank after 7 years if interest is compounded quarterly?
If interest is compounded quarterly then n = 4
Using values given in question and finding A

So, amount in the bank after 7 years if interest is compounded quarterly is $6,605
b) Find the amount in the bank after 7 years if interest is compounded monthly?
If interest is compounded quarterly then n = 12
Using values given in question and finding A

So, amount in the bank after 7 years if interest is compounded quarterly is $6,612.57
<span>the probability that the average mileage of the fleet us between 27.2 and 28.8 will be:
27.2<x<28.8
this will be:
P(x<28.8)-P(x<27.2)
To evaluate this we use the z-score formula:
P(x<28.2)=P(z<Z)
Z=(x-</span>μ)/σ
μ-mean
σ-standard deviation
thus
z=(28.2-28)/5=0.04
thus
P(x<28.2)=0.5160
p(x<27.2
z=(27.2-8)/5=-0.16
P(z<-0.16)=0.4364
thus
P(x<28.8)-P(x<27.2)=0.5160-0.4364=0.0796
Answer: 0.0796