Is 2/3 a solution of the equation?
2 answers:
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We are asked to determine the present value of an annuity that is paid at the end of each period. Therefore, we need to use the formula for present value ordinary, which is:
Where:
Since the interest is compounded semi-annually this means that it is compounded 2 times a year, therefore, k = 2. Now we need to convert the interest rate into decimal form. To do that we will divide the interest rate by 100:
Now we substitute the values:
Now we solve the operations, we get:
Therefore, the present value must be $39462.50
Answer:
4.27%
Step-by-step explanation:
We have been given that college students average 8.6 hours of sleep per night with a standard deviation of 35 minutes. We are asked to find the probability of college students that sleep for more than 9.6 hours.
We will use z-score formula to solve our given problem.
z = z-score,
x = Random sample score,
= Mean,
= Standard deviation.
Before substituting our given values in z-score formula, we need to convert 35 minutes to hours.
Now, we need to find .
Using formula , we will get:
Using normal distribution table, we will get:
Therefore, 4.27% of college students sleep for more than 9.6 hours.