Answer:
0.2752512
Step-by-step explanation:
The formula you are looking for is the binomial probability:
n!
P (X) = ------------ * (P)^X * (q)^n - X
(n- X)! X!
For your particular problem:
n=7
X=2
q = 1-p = .8
7!/(5!*2!)*(.2)^2*(.8)^5 = 0.2752512
Hope this helps, have a nice day/night! :D
I’m a little confused do you have a picture I could solve for cos then
Step-by-step explanation:
The final balance is $12,088.87.
The total compound interest is $2,088.87.
<span>Binomial is the sum of two monomials.
</span>
<span />
Hello from MrBillDoesMath!
Answer:
Interest paid = $ 1,713,568.73
Monthly p[payment = $4913.25
Discussion:
From the "compound interest formula:
A = final amount
P = Initial amount (Principal)
r = yearly interest rate
n = number of years of accumulation.
In our case,
A = 350000( 1 + .052)^35 =
350000 (5.90) = (approx)
$2,063,568.73
Interest = $2,063,568.73 - 350000 = $ 1,713,568.73
There are 35 *12 = 420 months in 35 years. So the monthly payment would be ($2,063,568.73 / 420) = $4913.25
Thank you,
MrB
