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Which descriptions from the list below accurately describe the relationship between triangle ABC and triangle DEF? Check all tha
t apply
2 answers:
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Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. Mike's account balance after 21 years is $69,131.44.
<h3>What is compound interest?</h3>Interest on interest, or compound interest, is the adding of interest to the principal sum of a loan or deposit. It's the outcome of reinvesting interest rather than paying it out so that interest is received on the principal plus previously collected interest in the next quarter.,
where A is the final amount
P is the principal amount
r is the rate of interest
n is the number of times interest is charged in a year
t is the number of years
The principal amount that Mike invested is $29,000. The rate of interest is 7.24% compounded daily, for 21 years. Therefore, the account balance after 21 years is
= $69,131.44
Hence, Mike's account balance after 21 years is $69,131.44.
Learn more about Compound Interest:
#SPJ1
Answer:
(a) 0.28347
(b) 0.36909
(c) 0.0039
(d) 0.9806
Step-by-step explanation:
Given information:
n=12
p = 20% = 0.2
q = 1-p = 1-0.2 = 0.8
Binomial formula:
(a) Exactly two will be drunken drivers.
Therefore, the probability that exactly two will be drunken drivers is 0.28347.
(b)Three or four will be drunken drivers.
Using binomial we get
Therefore, the probability that three or four will be drunken drivers is 0.3691.
(c)
At least 7 will be drunken drivers.
Therefore, the probability of at least 7 will be drunken drivers is 0.0039.
(d) At most 5 will be drunken drivers.
Therefore, the probability of at most 5 will be drunken drivers is 0.9806.