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olganol [36]
3 years ago
5

How long does it take to double a $1,000 investment that pays 6.5% annual interest, compounded monthly?

Mathematics
2 answers:
Sladkaya [172]3 years ago
7 0

Answer:

Part one: is b

Part two is 11 years

Step-by-step explanation:

ahrayia [7]3 years ago
3 0
2p=p(1+0.065/12)^12t
2=(1+0.065/12)^12t
Solve for t
T= [log(2)/ log(1+0.065/12)] /12
T= 10.7 years or if you want to round it would be 11

Answer: 10.7 years or 11 years

Answer: You can use the compound interest formula: A=P(1+interest)^n

A=the new capital
P=the capital invested
n= the #of monthly


Hope this helps (:
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Suppose that 40 percent of the drivers stopped at State Police checkpoints in Storrs on Spring Weekend show evidence of driving
lesantik [10]

Answer:

a) 0.778

b) 0.9222

c) 0.6826

d) 0.3174

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Step-by-step explanation:

Given:

Sample size, n = 5

P = 40% = 0.4

a) Probability that none of the drivers shows evidence of intoxication.

P(x=0) = ^nC_x P^x (1-P)^n^-^x

P(x=0) = ^5C_0  (0.4)^0 (1-0.4)^5^-^0

P(x=0) = ^5C_0 (0.4)^0 (0.60)^5

P(x=0) = 0.778

b) Probability that at least one of the drivers shows evidence of intoxication would be:

P(X ≥ 1) = 1 - P(X < 1)

= 1 - P(X = 0)

= 1 - ^5C_0 (0.4)^0 * (0.6)^5

= 1 - 0.0778

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P(x≤2) = P(X = 0) + P(X = 1) + P(X = 2)

^5C_0  (0.4)^0  (0.6)^5 + ^5C_1  (0.4)^1  (0.6)^4 + ^5C_2  (0.4)^2  (0.6)^3

= 0.6826

d) Probability that more than two of the drivers show evidence of intoxication.

P(x>2) = 1 - P(X ≤ 2)

= 1 - [^5C_0  (0.4)^0  (0.6)^5 + ^5C_1  (0.4)^1  (0.6)^4 + ^5C_2 * (0.4)^2  (0.6)^3]

= 1 - 0.6826

= 0.3174

e) Expected number of intoxicated drivers.

To find this, use:

Sample size multiplied by sample proportion

n * p

= 5 * 0.40

= 2

Expected number of intoxicated drivers would be 2

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Answer:

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3 years ago
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