Answer:
Step-by-step explanation:
we know that
The formula to calculate continuously compounded interest is equal to
where
A is the Final Investment Value
P is the Principal amount of money to be invested
r is the rate of interest in decimal
t is Number of Time Periods
e is the mathematical constant number
we have
substitute in the formula above and solve for t
Simplify
Apply ln both sides
Remember that
so
Answer:
$540
Step-by-step explanation:
Since we are paying 6% of the money on flowers we need to multiply our budget by .06. Let x equal the amount of money we payed for flowers.
x=9000*.06
Multiple the two numbers
x=540
We payed $540 for the flowers
Answer:
95%.
Step-by-step explanation:
We have been given that the lifetimes of light bulbs of a particular type are normally distributed with a mean of 370 hours and a standard deviation of 7 hours.
We are asked to find the percentage of the bulbs whose lifetimes lie within 2 standard deviations to either side of the mean using empirical rule.
The empirical rule (68-95-99.7) states that approximately 68% of data points lie within 1 standard deviation of mean and 95% of data points lie within two standard deviation of mean. 99.7% of data points lie within three standard deviation of mean.
Therefore, approximately 95% of data points lie within two standard deviation of mean.