Can someone help me with this please I would really appreciate it
1 answer:
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Answer:
If the account earns annual compound interest rather than annual simple interest, the account earns extra $1955.62
Step-by-step explanation:
Given :
Principal amount P = $5000
Annual interest rate r = 4% = 4/100 = 0.04
time t = 20 years
First we have to calculate account balance when account earns annual simple interest. We know that the formula is
A = P(1+rt)
= 5000 (1+ (0.04 x 20))
= 5000 (1.8)
= 9000
Interest earned for annual simple interest = 9000 - 5000
= 4000
Now we will calculate account balance when account earns annual compound interest. The formula is
A = P
Since here interest is compounded annually, n =1, hence we get
A = P
= 5000
= 10955.62
Interest earned for annual compound interest = 10955.62 - 5000
= 5955.62
The extra interest earned = 5955.62 - 4000
= 1955.62
Hence f the account earns annual compound interest rather than annual simple interest, the account earns extra $1955.62
This question is incomplete and it also lacks an attached diagram.
Find attached to this answer the appropriate diagram.
Complete Question:
The conditional relative frequency table was generated using data that compared the cost of one ticket for a performance and the method by which the ticket was purchased.
Given that Lorenzo paid more than $30 for a ticket, what is the probability that he purchased the ticket at the box office? Express the answer in decimal form
Answer:
0.14
Step-by-step explanation:
From the attached diagram, we were given a table that contained known values:
The number of tickets that were purchased online we have 2 categories
a) Not more than $30 = 0.7
b) More than $30 = 0.86
The number of tickets that were purchased at the box office also had 2 categories.
a) Not more than $30 = 0.3
b) More than $30 = 0.14
The probability that the ticket Lorenzo paid more than $30 for was purchased at the box office
= P( more than $30 at the box office)
= 0.14
