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alexgriva [62]
3 years ago
10

assume that a 3 month CD purchased for $2000 pay a simple interest at an annual rate of 10%. How much total interest does it ear

n ? What is the balance at maturity?

Mathematics
1 answer:
algol [13]3 years ago
7 0
CD = certificate of deposit (an investment)
Interest rate, i = 10% per annum (simple interest)
Principal, P = $2000 (present value)
Period, T = 3 months = 0.25 year

Simple interest formula
Interest earned = Pit
=2000*0.10*0.25
=$50

Balance at maturity (amount that investor gets after three months)
=$2000+$50
=$2050
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Step-by-step explanation:

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In a set with mean \mu and standard deviation \sigma, the z-score of a measure X is given by:

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The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the p-value, we get the probability that the value of the measure is greater than X.

In this question:

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For Vincent, we have X = 299.2, \mu = 264, \sigma = 22.

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Z = \frac{299.2 - 264}{22}

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Tobias got a score of 7.26; this version has a mean of 7.1 and a standard deviation of 0.4.

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Due to the higher Z-score, Demetria should be offered the job.

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