Answer:
Step-by-step explanation:
a) Because you are only receiving $1500 and in exchange you would have to cover for this accident damage in the next year, which could be up to hundred of thousands of dollar. Sure there's a chance the your neighbor might drive safely, but the odds are far more in his favor than yours.
b) The insurance company collect payments from hundred of thousands buyers, making their cash flow up to tens of million dollar. Sure the expected value of accidents might be high but as a company they surely have capital to cover a handful of cases, if their calculation done right.
Answer:
Step-by-step explanation:
Detailed solution on the attached pictures
Answer:
You can do these "in your head" like this:
50 dimes would be $5.00
Each quarter adds 15 cents.
10.25 - 55.00 = $5.25 added
Step-by-step explanation:
525/15 = 35 quarters
--> 15 dimes
==========================
or,
d + q = 50
10d + 25q = 1025
etc
Answer : option d
4.4, 5.8, 7.2, 8.6, 10, …
First we find the common difference between two terms
5.8 - 4.4 = 1.4
7.2 - 5.8 = 1.4
8.6 - 7.2 = 1.4
10 - 8.6 = 1.4
So common difference is 1.4
To find recursive rule, we add the difference with previous term
Recursive rule is 
a1 is the first term so a1= 4.4
d is the difference = 1.4
So recursive rule is
, where a1 = 4.4
Answer:
(a) A = 700×1.015^t
(b) 36.2 years
Step-by-step explanation:
(a) Each year, the account value is multiplied by (1 + 1.5%) = 1.015. Repeated multiplication is signified using an exponent. In t years, when the account has been multiplied by 1.015 t times, the account value will be ...
A = $700×1.015^t
__
(b) You want to find t when A=$1200. Logarithms are involved.
1200 = 700×1.015^t . . . . use 1200 for A
1200/700 = 1.015^t . . . . . divide by 700
log(12/7) = t×log(1.015) . . . . . take logarithms
log(12/7)/log(1.015) = t ≈ 36.2 . . . . divide by the coefficient of t
It will take about 36.2 years for the account balance to reach $1200.
