Which of the following is the interest on $6000 at 6% compounded semiannually for eight years?
1 answer:
Answer:
$3628.24
Step-by-step explanation:
we use the formula for accrued value (A) with compounded interest:
where A= accrued value (principal plus the accumulated interest)
P = principal -> in our case $6000
r = annual interest rate (in decimal form) -> in our case 0.06
n = number of compoundings per year. In our case 2 (semiannually)
t = time in years -> in our case 8
Since this is the value of principal plus accumulated interest, we subtract from it the principal ($6000) to get the value of just the interest:
$9628.24 - $6000 = $3628.24
You might be interested in
Answer:
the answer is Solve for the first variable in one of the equations, then substitute the result into the other equation.
Point Form:
(−17/2, -7)
Equation Form:x=-17/2 y=-7
Answer:
p ( x > 2746 ) = p ( z > - 1.4552 )
= 1 - 0.072806
= 0.9272
This shows that there is > 92% of a republican candidate winning the election hence I will advice Gallup to declare the Republican candidate winner
Step-by-step explanation:
Given data:
51% of male voters preferred a Republican candidate
sample size = 5490
To win the vote one needs ≈ 2746 votes
In order to advice Gallup appropriately lets consider this as a binomial distribution
n = 5490
p = 0.51
q = 1 - 0.51 = 0.49
Hence > 5 while
< 5
we will consider it as a normal distribution
From the question :
number of male voters who prefer republican candidate ( mean ) ( u )
= 0.51 * 5490 = 2799.9
std = =
= 37.0399 ---- ( 1 )
determine the Z-score = (x - u ) / std ---- ( 2 )
x = 2746 , u = 2799.9 , std = 37.0399
hence Z - score = - 1.4552
hence
p ( x > 2746 ) = p ( z > - 1.4552 )
= 1 - 0.072806
= 0.9272
This shows that there is > 92% of a republican candidate winning the election hence I will advice Gallup to declare the Republican candidate winner