Given:
saves 150 per month.
3% per annum ; 0.0025% per month.
compounded interest means that every interest earned per month also earns interest.
2 years = 24 months.
Pls. see attachment for my answer.
Answer:
C (.35) on edge2021! :)
Step-by-step explanation:
for this problem we use the formula <u>P(X = k) = (n over k)p^k(1-p)^n-k</u> and in this case,
k = 5
n = 6
p = .90
and (n over k), n choose k, is calculated by (n! / k!(n-k)!) or just look up "6 choose 5" and you'll figure out that it's equal to 6.
so you end up with P(X = 5) = 6(.90)^5(1-.90)^6-5 which will give you .35 when put in a calculator.
The steps for substitution are step 1 solve for the equation x = or y then step 2 is substitute the solution from step 1 into the second equation and step 3 is solve the new equation for x.
Answer:
Just follow the arrow or see answer in each box
Step-by-step explanation: