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4 years ago

9

Sean wants to have an investment worth $15,000 in ten years. How much money should he invest today if the annual interest rate o

f the account is 5.0% and it is compounded monthly?

1 answer:

N76 [4]4 years ago

8 0

Answer:

#30,000

Step-by-step explanation:

Intrest=15,000

Time=10yrs

Percent=5.0%

Rate=?

R=I*100/PT

R=15,000*100/5.0*10

R= 1500000/50

R=30,000

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16.4.57 Question Help A box contains eighteen $1 bills, ten $5 bills, eight $10 bills, three $20 bills, and one $100 bill You bl

Rudiy27

Answer:

$ 7.7

Step-by-step explanation:

Given,

There are 18 $1 bills, ten $5 bills, eight $10 bills, three $20 bills, and one $100 bill,

Total number of bills = 18 + 10 + 8 + 3 + 1 = 40,

$\because \text{Probability}=\frac{\text{Favourable outcomes}}{\text{Total outcomes}}$

Thus,

The probability of $ 1 = $\frac{18}{40}$

The probability of $ 5 = $\frac{10}{40}$

The probability of $ 10 = $\frac{8}{40}$

The probability of $ 20 = $\frac{3}{40}$

The probability of $ 100 = $\frac{1}{40}$

If a bill is selected randomly,

The expected value of the bill

$=\frac{18}{40}\times 1+\frac{10}{40}\times 5+\frac{8}{40}\times 10+\frac{3}{40}\times 20+\frac{1}{40}\times 100$

$=\frac{18+50+80+60+100}{40}$

$=\frac{308}{40}$

= $ 7.7

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3 years ago