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3 years ago

my final balance afrer 48 months was $896.00 if i originally put $800.00 into the bank what was the interset rate

Mathematics

1 answer:

Katarina [22]3 years ago

6 0

The formula in computing the maturity value of a savings with a simple interest rate is:

MV = P (1 + rt)

Where: MV = maturity value after certain years

P = principal amount

r = interest rate

t = time in years

If you would manipulate the formula to solve for r in terms of the other variables, you will get this formula:

1 + rt = MV/P

rt = MV/P – 1

r = (MV/P – 1)/t

Substituting the given amounts to the formula:

r = ($896/$800 – 1)/4

r = (1.12 – 1)/4

r = 0.12/4

r = .03 or 3%

Note: The 48 months is equivalent to 4 years (48/12 = 4)

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For a 95% confidence interval what would the sample size need to be as it's most conservative to have a 2% margin of error

aleksley [76]

Answer:

The size of the sample 'n' = 2401

Step-by-step explanation:

Step:1

Given that the margin of error = 2 % = 0.02

The margin of error is determined by

$M.E = \frac{Z_{0.05} \sqrt{p(1-p)} }{\sqrt{n} }$

we know that the proportion

$\sqrt{p(1-p)} < \frac{1}{2}$

Step:2

The margin of error is determined by

$0.02 = \frac{1.96( \frac{1}{2} ) }{\sqrt{n} }$

$\sqrt{n} = \frac{1.96}{2 X 0.02}$

√n = 49

Squaring on both sides, we get

n = 49 × 49

n = 2401

Final answer:-

The size of the sample 'n' = 2401

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3 years ago

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Novay_Z [31]

We can round the check up to $20
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4 years ago

The base of a triangle is 7 inches more than 4 times the height. If the area of the triangle is 93 square inches, find the base

Galina-37 [17]

Answer:

Step-by-step explanation:

Let the height = h

Let the base = 4h + 7

Area of a triangle = 1/2 * b * h

Area = 93 square inches

1/2 * (4h + 7)* h = 93 Multiply both sides by 2

(4h + 7) * h = 93*2

(4h + 7)*h = 186 Remove the brackets

4h^2 + 7h = 186 Subtract 186 from both sides.

4h^2 + 7h - 186 = 0

Use the quadratic formula to solve

a = 4

b = 7

c = - 186

x1 = (-7 + sqrt(7^2 - 4*4*(-186) ) /2*4

x1 = (-7 + sqrt(49 - 16*(-186)) / 8

x1 = (-7 + sqrt(49 + 2976)) / 8

x1 = (-7 + sqrt(3025)) / 8

x1 = (-7 +55 ) / 8

x1 = (48)/8

x1 = 6

There is another root, but it has to be minus and therefore cannot be used as a length. x2 = - 7.75

h = 6

b = 4*6 + 7 = 31

Check

Area = 1/2 * b * h

Area = 1/2 * 31 * 6

Area = 1/2 *186

Area = 93 which is what we were given so the answer is correct.

4 0

2 years ago