Connor borrows $8,000 at a rate of 19% interest per year. What is the amount due at the end of 7 years if the interest is compou
1 answer:
Answer:
Step-by-step explanation:
we know that
The formula to calculate continuously compounded interest is equal to
where
A is the Final Amount due
P is the amount of money borrowed
r is the rate of interest in decimal
t is Number of Time Periods
e is the mathematical constant number
we have
substitute in the formula above
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Answer:
(a) P (p' > 0.25) = 0.
(b) P (0.15 < p' < 0.20) = 0.7784.
(c) P (133 < X < 171) = 0.2205
Step-by-step explanation:
Let <em>p</em> = proportion of business trip that were for internal company visit.
It is provided that 19% responded that it was for an internal company visit, i.e.
<em>p</em> = 0.19.
A sample of <em>n</em> = 950 business travelers are randomly selected.
According to the Central limit theorem, if from an unknown population large samples of sizes <em>n</em> > 30, are selected and the sample proportion for each sample is computed then the sampling distribution of sample proportion follows a Normal distribution.
The mean of this sampling distribution of sample proportion is:
The standard deviation of this sampling distribution of sample proportion is:
Thus, the distribution of is N (<em>μ</em> = 0.19, <em>σ </em>= 0.013).
(a)
Compute the probability that more than 25% of the business travelers say that the reason for their most recent business trip was an internal company visit as follows:
P (p' > 0.25) = P (Z > 4.62) = 0
*Use a <em>z</em>-table for the probability.
Thus, the probability that more than 25% of the business travelers say that the reason for their most recent business trip was an internal company visit is 0.
(b)
Compute the probability that between 15% and 20% of the business travelers say that the reason for their most recent business trip was an internal company visit as follows:
P (0.15 < p' < 0.20) = P (-3.08 < Z < 0.77)
= P (Z < 0.77) - P (Z < -3.08)
= 0.7794 - 0.0010
= 0.7784
*Use a <em>z</em>-table for the probability.
Thus, the probability that between 15% and 20% of the business travelers say that the reason for their most recent business trip was an internal company visit is 0.7784.
(c)
Compute the proportion of <em>X</em> = 133 and <em>X</em> = 171 as follows:
p' = 133/950 = 0.14
p' = 171/950 = 0.18
Compute the value of P (0.14 < p' < 0.20) as follows:
P (0.14 < p' < 0.18) = P (-3.85< Z < -0.77)
= P (Z < -0.77) - P (Z < -3.85)
= 0.2206- 0.0001
= 0.2205
*Use a <em>z</em>-table for the probability.
Thus, the probability that between 133 and 171 of the business travelers say that the reason for their most recent business trip was an internal company visit is 0.2205.
Answer:
We should expect <u>10 iris bouquet</u> will be sold out of next 35 bouquet sold.
Step-by-step explanation:
Given;
Number of iris bouquets sold yesterday = 6
Number of other bouquets sold yesterday = 15
We need to find number of iris bouquets sold out of 35 bouquets sold.
Solution:
First we will find the percent of iris bouquet sold yesterday.
Now we know that;
Total bouquet sold yesterday is equal to sum of Number of iris bouquets sold yesterday and Number of other bouquets sold yesterday.
framing in equation form we get;
Total bouquet sold yesterday =
Now we can say that;
Percent of iris bouquet sold is equal to Number of iris bouquets sold yesterday divided by Total bouquet sold yesterday and then multiplied by 100
framing in equation form we get;
Percent of iris bouquet sold =
Now based on this data we need to find number of iris bouquet sold when total bouquet sold is 35.
number of iris bouquet =
Hence we should expect <u>10 iris bouquet</u> will be sold out of next 35 bouquet sold.