Please help Assssaaaappp!!! almost due and im having trouble.
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The money can be withdrawn from the account every two months for the next 6 years is $20, 625, 000
<h3>What is compound interest?</h3>
The formula for compound interest is given as;
P = principal interest = $25, 000
r = rate = 4. 5%
n = 2 months
t = 6 years
A =
A =
A =
A = $20, 625, 000
Thus, the money can be withdrawn from the account every two months for the next 6 years is $20, 625, 000
Learn more about compound interest here:
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Using the binomial distribution, the probabilities are given as follows:
a) 0.37 = 37%.
b) 0.5065 = 50.65%.
c) 0.3260 = 32.60%.
<h3>What is the binomial distribution formula?</h3>The formula is:
The parameters are:
- x is the number of successes.
- n is the number of trials.
- p is the probability of a success on a single trial.
For this problem, the fixed parameter is:
p = 0.37.
Item a:
The probability is P(X = 1) when n = 1, hence:
Item b:
The probability is P(X = 3) when n = 3, hence:
Item c:
The probability is P(X = 2) when n = 4, hence:
More can be learned about the binomial distribution at brainly.com/question/24863377
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