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lisabon 2012 [21]
3 years ago
12

If you deposit $10,000 at 3.85% interest, compounded daily, what would your ending balance be after three years?

Mathematics
1 answer:
stepladder [879]3 years ago
5 0

Answer: $11,155

Step-by-step explanation: For this problem, first we will use the "Simple Interest" equation to find the total interest earned after three years.

First, convert 3.85% to a decimal, 0.0385.

I, interest = 10,000 x 0.0385 x 3

I = 1,155

Now add the total interest $1,155 to the total deposit $10,000.

1,155 + 10,000 = $11,155

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A mechanic works on the overhaul of a transmission. He starts at 8:25 AM and finishes
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A couple plans to have children until they get a​ girl, but they agree they will not have more than three​ children, even if all
barxatty [35]

Answer:

a)Let X be number of children

X=1,2,3

P(X=1)= 0.47

P(X=2) = 0.2491

P(X=3) = 0.942923

b) 3.7970

c) 1.6232

Step-by-step explanation:

The complete question is:

A couple plans to have children until they get a​ girl, but they agree they will not have more than three​ children, even if all are boys. Assume that the probability of having a girl is 47.00​%. ​

a) Create a probability model for the number of children​ they'll have.

X=1,2,3

​P(X=1)=??

P(X=2)= ??

P(X=30=???

​(Round to four decimal places as​ needed

​b) Find the expected number of children.

E(X)= ???

​c) Find the expected number of boys​ they'll have.

Expected number of boys= ???

Solution:

Probability of a girl= 0.47

Probability of a boy= 0.53

a) P(X=1)= 0.47

P(X=2) = 0.47× 0.53= 0.2491

P(X=3)= 0.47× 0.53× 0.53 + 0.53× 0.53× 0.53

             = 0.942923

b) E(number of children)= 1× P(X=1) + 2 ×P(X=2) + 3 × (PX=3)

                                       = 3.796969

c) Y: number of boys

P(Y=1)= 0.53×0.47= 0.2491

P(Y=2) = 0.53×0.53×0.47=0.46375

P(Y=3)= 0.53× 0.53× 0.53= 0.148875

E(Y)= P(Y=1)×1 + P(Y=2)×2 + P(Y=3)×3

       = 0.148875×3 +0.46375×2+0.2491 ×1

      = 1.6232

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2/3 because 8 divided by 12 is 8/12 but you have to round it and you would get 2/3
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