The total amount of money accrued ( principal and interest ) in 35 years is $570.78.
<h3>What is the total amount accrued?</h3>
The formula for compound interest is expressed as;
A = P( 1 + r/t )^(n×t)
Given the data in the question;
- Principal P = $200
- Rate r = 3% = 3/100 = 0.03
- Compounded monthly n = 12
- Time t = 35
- Amount accrued in 35 years A = ?
Plug the given values into the equation above.
A = P( 1 + r/n )^(n×t)
A = 200( 1 + 0.03/12 )^(12×35)
A = 200( 1 + 0.0025 )^(420)
A = 200( 1.0025 )^(420)
A = 200( 2.85390914 )
A = $570.78
Therefore, the total amount of money accrued ( principal and interest ) in 35 years is $570.78.
Learn more about compound interest here: brainly.com/question/27128740
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Answer: I think it’s 225
Explanation: 1,500 • .15= 225
These are independent events so
P(A and B) = P(A) * P(B)
Therefore
P(Both gears fail) = 0.05 * 0.08 = 0.004 or 0.4%
Answer:
a. at zero years of education, income equals $1500
Step-by-step explanation:
The equation for income 'I', as a function of years of education 't' is given by:
Where b is the regression coefficient and a is the intercept.
The intercept is the value assumed by the function for t = 0 years of education:
Since the income function measures income in $1,000s, at zero years of education, income equals $1500
I solved and the mean is 10
