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3 years ago

Write a compound interest function to model the following situation. Then, find the balance after the given number of years.

Mathematics

2 answers:

Anton [14]3 years ago

4 0

Answer:

Compound interest function, $A = P(1 + \frac{r}{n} )^{nt}$

The amount when compounded annually after 8 years is $ $21200.21$

Step-by-step explanation:

Topic: Compound Interest

To model the situation, we'll make use of the compound interest formula. The formula is as follows:

$A = P(1 + \frac{r}{n} )^{nt}$ ---- This is the compound interest function

Where

r = Rate = 2.5% = 0.025

n = Period = Annually = 1

t = Time = 8 years

P = Principal Amount = $17,400

A = Amount ---- This is the function we want to model

By Substitution, we have

$A = 17,400(1 + \frac{0.025}{1} )^{1*8}$

$A = 17,400(1 + 0.025)^{8}$

$A = 17,400(1.025)^{8}$

$A = 17400 * 1.21840289751$

$A = 21200.2104167$

Hence, the amount when compounded annually after 8 years is $ $21200.21$ (Approximated)

lakkis [162]3 years ago

3 0

Y=17400(1+0.025)^8 is your equation and with that you get $21200.21

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3 years ago

Square root of 50 long division form

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Answer:

see below

Step-by-step explanation:

The attached picture shows the calculation of the first several digits of the square root of 50.

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You can compare this to the Babylonian method, where the next root guess is the average of the previous one and the square divided by that previous guess. For a square of 50 and a first guess of 7, the root estimates are ...

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3 years ago

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Nookie1986 [14]

Answer:

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Step-by-step explanation:

Let X = time spent per week shopping online.

It is provided that the random variable X follows a Poisson distribution.

The probability function of a Poisson distribution is:

$P (X=x)=\frac{e^{-\lambda}\lambda^{x}}{x!} ;\ x=0,1,2,...$

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Compute the probability that a randomly selected woman shop exactly two hours online over a one-week period as follows:

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Compute the probability that a randomly selected woman shop 4 or more hours online over a one-week period as follows:

P (X ≥ 4) = 1 - P (X < 4)

= 1 - P (X = 0) - P (X = 1) - P (X = 2) - P (X = 3)

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Thus, the probability that a randomly selected woman shop 4 or more hours online is 0.0338.

(c)

Compute the probability that a randomly selected woman shop less than 5 hours online over a one-week period as follows:

P (X < 5) = P (X = 0) + P (X = 1) + P (X = 2) + P (X = 3) + P (X = 4)

$=\frac{e^{1.2}(1.2)^{0}}{0!}+\frac{e^{1.2}(1.2)^{1}}{1!}+\frac{e^{1.2}(1.2)^{2}}{2!}+\frac{e^{1.2}(1.2)^{3}}{3!}+\frac{e^{1.2}(1.2)^{4}}{4!}\\=0.3012+0.3614+0.2169+0.0867+0.0260\\=0.9922$

Thus, the probability that a randomly selected woman shop less than 5 hours online is 0.9922.

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