Work out the balance for £5000 invested for 5 years at 7% per annum

1 answer:

7 0

Given:
Principal : 5,000
Interest rate : 7% per annum
Term : 5 years

Simple interest is computed by multiplying the principal, the interest rate, and the term.

Simple Interest = Principal * interest rate * term

S.I. = 5,000 * 7% * 5years
S.I. = 350 * 5 years
S.I. = 1,750

An investment of 5,000 will earn a total of 1,750 within 5 years at 7% per annum.

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A recent Harris Poll survey of 1010 U.S. adults selected at random showed that 627 consider the occupation of firefighter to hav

Semmy [17]

Answer: 0.62

Step-by-step explanation:

Given : A recent Harris Poll survey of 1010 U.S. adults selected at random showed that 627 consider the occupation of firefighter to have very great prestige.

i.e. The sample size of U.S. adults : n= 1010

The number of U.S. adults consider the occupation of firefighter to have very great prestige : x= 627

Now , the probability that a U.S adult selected at random thinks the occupation of firefighters has very great prestige will be :

$\hat{p}=\dfrac{x}{n}\\\\=\dfrac{627}{1010}=0.620792079208\approx0.62$ [ To the nearest hundredth]