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frez [133]
3 years ago
6

$8390 is compounded daily at a rate of 10%. Find the total amount in the compound interest account at the end of 5 years. (The c

ompound interest factor is 1.64861.)
Mathematics
2 answers:
hjlf3 years ago
6 0

8390(1+0.1)^5=8390(1.1)^5=8390*1.61051=$13512.1789

CaHeK987 [17]3 years ago
4 0

"Daily" compounding implies compounding 365 days per year.

Using the compound interest formula,


A = $8390 (1+0.10/365)^(365*5)

= $8390(1.000274)^1825

= $8390(1.649) = $13823.52

Under the given circumstances, with compounding 365 days per year, the original $8390 will have grown to $13832.52.

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Read 2 more answers
A triangle has sides with lengths of 6 inches, 8 inches is it a right triangle? ​
My name is Ann [436]

Answer:

Yes

Step-by-step explanation:

8²+6²=100

√100

=10

6 0
3 years ago
Please help and explain how you solved it. Thanks.
galina1969 [7]

Answer:

This is 0.14 to the nearest hundredth

Step-by-step explanation:

Firstly we list the parameters;

Drive to school = 40

Take the bus = 50

Walk = 10

Sophomore = 30

Junior = 35

Senior = 35

Total number of students in sample is 100

Let W be the event that a student walked to school

So P(w) = 10/100 = 0.1

Let S be the event that a student is a senior

P(S) = 35/100 = 0.35

The probability we want to calculate can be said to be;

Probability that a student walked to school given that he is a senior

This can be represented and calculated as follows;

P( w| s) = P( w n s) / P(s)

w n s is the probability that a student walked to school and he is a senior

We need to know the number of seniors who walked to school

From the table, this is 5/100 = 0.05

So the Conditional probability is as follows;

P(W | S ) = 0.05/0.35 = 0.1429

To the nearest hundredth, that is 0.14

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3 years ago
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