A Pell Grant is a type of financial aid that does not need to be paid back. true or false
1 answer:
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Answer:
$2000 was invested at 5% and $5000 was invested at 8%.
Step-by-step explanation:
Assuming the interest is simple interest.
<u>Simple Interest Formula</u>
I = Prt
where:
- I = interest earned.
- P = principal invested.
- r = interest rate (in decimal form).
- t = time (in years).
Given:
- Total P = $7000
- P₁ = principal invested at 5%
- P₂ = principal invested at 8%
- Total interest = $500
- r₁ = 5% = 0.05
- r₂ = 8% = 0.08
- t = 1 year
Create two equations from the given information:
Rewrite Equation 1 to make P₁ the subject:
Substitute this into Equation 2 and solve for P₂:
Substitute the found value of P₂ into Equation 1 and solve for P₁:
$2000 was invested at 5% and $5000 was invested at 8%.
Learn more about simple interest here:
Answer:
30.91% probability that the islanders will win exactly one out of four games in a series against the rangers
Step-by-step explanation:
For each game, there are only two possible outcomes. Either the Islanders win, or they do not. The probability of the Islanders winning a game is independent of other games. So we use the binomial probability distribution to solve this question.
Binomial probability distribution
The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.
In which is the number of different combinations of x objects from a set of n elements, given by the following formula.
And p is the probability of X happening.
The probability that the islanders will beat the rangers in a game is 0.44
This means that
What is the probability that the islanders will win exactly one out of four games in a series against the rangers?
This is P(X = 1) when n = 4. Then
30.91% probability that the islanders will win exactly one out of four games in a series against the rangers