3.
1 answer:
3)
Principal Amount = P = $7200
Interest rate = r = 4% = 0.04
Time = t = 8 years
Formula for compounding is:
Using the values, we get:
Therefore, the compounded amount will be $9853.70
4)
Principal Amount = P = $7200
Compounded Amount = A = $9853.70
Interest Earned = Compounded Amount - Principal Amount
So,
Interest Earned = 9853.70 - 7200 = $2653.70
Therefore, $2653.70 will be earned as interest over a period of 8 years.
Principal Amount = P = $7200
Interest rate = r = 4% = 0.04
Time = t = 8 years
Formula for compounding is:
Using the values, we get:
Therefore, the compounded amount will be $9853.70
4)
Principal Amount = P = $7200
Compounded Amount = A = $9853.70
Interest Earned = Compounded Amount - Principal Amount
So,
Interest Earned = 9853.70 - 7200 = $2653.70
Therefore, $2653.70 will be earned as interest over a period of 8 years.
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Answer:
(a) 93.19%
(b) 267.3
Step-by-step explanation:
The population mean and standard deviation are given as 502 and 116 respectively.
Consider, <em>X</em> be the random variable that shows the SAT critical reading score is normally distributed.
(a) The percent of the SAT verbal scores are less than 675 can be calculated as:
Thus, the required percentage is 93.19%
(b)
The number of SAT verbal scores that are expected to be greater than 575 can be calculated as:
So,
Out of 1000 randomly selected SAT verbal scores, 1000(0.2673) = 267.3 are expected to have greater than 575.