perimeter is a measure of the distance around a figure. if each side of a triangle measures 0.75 inches, what is the perimeter o
2 answers:
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<u>Answer:</u>
The expected value of construction company is $30500.
<u>Solution:</u>
Given, A construction company is planning to bid on a building contract.
The bid costs $1,500 and has an 80% chance of being accepted.
If accepted, the company will receive $40,000 dollars.
We have to find the expected value.
We know that,
Expected value = probability amount gained by bidding – bid amount
Expected value = 80% x 40000 – 1500
Expected value = 0.8 x 40000 – 1500
Expected value = 32000 – 1500
Expected value = 30500
Hence, the expected value is $30500.
Answer:
$5,909.97
Step-by-step explanation:
We will use the compound interest formula for this problem as shown below:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
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First, change 3.6% into a decimal:
3.6% -> -> 0.036
Now plug in the values:
After 2 years, the balance would be $5,909.97