In an effort to save money for early retirement, an environmental engineer plans to deposit $1200 per month starting one month f
rom now, into a self-directed investment account that pays 8% per year compounded semiannually. How much will be in the account at the end of 25 years
1 answer:
Answer:
$1,099,203.00
Explanation:
In this question we have to find out the future value that is shown in the attachment below:
Provided that
Present value = $0
Rate of interest = 8% ÷ 2 = 4%
NPER = 25 years × 2 = 50 years
PMT = $1,200 × 6 months = $7,200
The formula is shown below:
= -FV(Rate;NPER;PMT;PV;type)
So, after solving this, the future value is $1,099,203.00
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Answer:
Explanation:
given,
Mean,μ= 35mm
Standard Deviation,σ = 0.5mm
Sample size, n = 36
Sample Standard deviation =
=
= 0.0833
The interested diameter is between 34.95 to 35.18 mm
Calculating the Z score of the for the diameter mentioned.
now, Form Z-table
Subtracting the value
= 0.9846 - 0.2741
= 0.71
Hence, the required probability is that the diameter of bearing is in between 34.95 and 35.18 mm is equal to 0.71.