How much interest is gained if $250 is deposited in your bank account at the end of the year for each of the next 7 years? savin
1 answer:
You might be interested in
Answer:
The right solution is:
(a) 0.8849
(b) 12.28%
(c) 4.9935
(d) 28004
Step-by-step explanation:
Given:
Mean,
= 4.5
Standard deviation,
= 0.3
(a)
P(x > 4.14)
As we know,
⇒
then,
⇒
(b)
P(4.8 < x < 5.04)
=
=
=
=
=
or,
= (%)
(c)
P(x > x) = 0.05
z value will be,
= 1.645
⇒
(d)
P(x < 5.01)
⇒
P(z < 1.70) = 0.9554
⇒