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babymother [125]

3 years ago

6

If the APY of a savings account is 2.5%, and if the principal in the savings account was $2000 for an entire year, what will the

balance of the savings account be after all the interest is paid for the year?

1 answer:

UNO [17]3 years ago

5 0

I believe the answer is $2,050

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mamaluj [8]

The best and most correct answer providedfrom your question about the entrance examination paper is the second option which is 2,250. The problem can be solved by:

3-1-1 : 5c3*5c1*5c1 *3!/2! = 750
<span>2-2-1 : 5c2*5c2*5c1 *3!/2! = 1500
</span>
Adding the two answers:

750 + 1500 = 2250

I hope it has come to your help.

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EleoNora [17]

Solution: The given problem is a binomial distribution.

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My name is Ann [436]

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