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Tatiana [17]
2 years ago
9

Sam opened a money-market account that pays 2% simple interest. He started the account with $7,000 and made no further deposits.

When he closed the account, he had earned $420 in interest. How long did he keep his account open?
Mathematics
1 answer:
Juliette [100K]2 years ago
7 0
Answer:  $7,420.00 = 3 years
(I = A - P = $420.00)

Equation:
A = P(1 + rt)
Calculation:
First, converting R percent to r a decimal
r = R/100 = 2%/100 = 0.02 per year.

Solving our equation:
A = 7000(1 + (0.02 × 3)) = 7420 
A = $7,420.00

The total amount accrued, principal plus interest, from simple interest on a principal of $7,000.00 at a rate of 2% per year for 3 years is $7,420.00.
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Answer:

(a) 35 heads correspond to -3 on the standard scale.

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Step-by-step explanation:

(a) If we flip a fair coin once, probability of getting head = 0.5

If we flip a fair coin 100 times, mean number of heads = 100(0.5) = 50

If there are N draws with a P probability of success, the standard deviation (SD) is given as:

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Here, the probability of getting a head (P) is 0.5 while the number of draws (N) is 100. So,

SD = \sqrt{(100)(0.5)(1-0.5)}

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The standard scale value is: (35 - 50) / 5 = -3

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X - 50 = 12

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3 years ago
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Answer:

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1, 18

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