$\text{Given that }\$7000 \text{ is compounded semiannualy at a rate of }11\% \text{ for 21 years}\\
\\
\text{we know that the amount after t year when compounded is given by}\\
\\
A=P\left ( 1+\frac{r}{n} \right )^{nt}\\
\\
\text{here P is the principal amoount, so }P=7000,\\
\\
\text{r is the interest rate, }r=11\%=0.11\\
\\
\text{n is the number of times in a year, here semiannulay, so }n=2,\\
\\
\text{and t is the time, so }t=21\\
\\
\text{so the amount after 21 years is}$

$A=7000\left ( 1+\frac{0.11}{2} \right )^{2(21)}\\
\\
\Rightarrow A=7000\left ( 1+0.055 \right )^{42}\\
\\
\Rightarrow A=7000\left ( 1.055 \right )^{42}\\
\\
\Rightarrow A\approx 66328.68$

So the amount after 21 years is: $66328.68

7 0

3 years ago

if it takes 2 people 8 hours to decorate a room. How many people do I need to decorate 15 rooms in 24 hours?

miss Akunina [59]

6 people l guess l hope this helps

6 0

3 years ago

Assume that you have a binomial experiment with p=0.4 and a sample size of 100. the expected value for this binomial distributio

UkoKoshka [18]

In Binomial distribution, the expected value or mean is given by,
E(X) = np
where, p = probability of success and n=number of sample size.

E(X) = 100×0.4 = 40

7 0

3 years ago