Answer:
100
Step-by-step explanation:
The amount of money he will be able to withdraw after 10 years after his last deposit is $926,400.
<h3>Compound interest</h3>
- Principal, P = $2,000 × 12 × 4
= $96,000
- Time, t = 10 years
- Interest rate, r = 24% = 0.24
- Number of periods, n = 2
A = P(1 + r/n)^nt
= $96,000( 1 + 0.24/2)^(2×10)
= 96,000 (1 + 0.12)^20
= 96,000(1.12)^20
= 96,000(9.65)
= $926,400
Therefore, the amount of money he will be able to withdraw after 10 years after his last deposit is $926,400
Learn more about compound interest:
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Answer:
0.1319 or 13.2%
Step-by-step explanation:
You can solve this using the binomial probability formula.
The fact that "obtaining at least two 6s" requires you to include cases where you would get three and four 6s as well.
Then, we can set the equation as follows:
P(X≥x) = ∑(k=x to n) C(n k) p^k q^(n-k)
n=4, x=2, k=2
when x=2 (4 2)(1/6)^2(5/6)^4-2 = 0.1157
when x=3 (4 3)(1/6)^3(5/6)^4-3 = 0.0154
when x=4 (4 4)(1/6)^4(5/6)^4-4 = 0.0008
Add them up, and you should get 0.1319 or 13.2% (rounded to the nearest tenth)
Answer: 547
Step-by-step explanation: The margin of error formulae is given below as
Margin of error = critical value ×(σ/√n)
Where σ = standard deviation and n is the sample size.
From our question, margin of error = 0.08
Variance is 1.691,
hence σ = √variance = √1.691
= 1.3.
We will be using a z test for our critical value this is because a soft drink manufacturer will always produce drinks more than 30 in numbers.
The critical value for a 85% confidence interval is 1.44.
Hence critical value is 1.44.
By substituting the parameters, we have that
0.08 = 1.44 × 1.3/ √n
0.08 = 1.873/ √n
By cross multiplying
0.08 × √n = 1.873
√n = 1.873/ 0.08
√n = 23.41
n = (23.41)²
n = 547.
