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2 years ago

If quarterly payments are made for 15 years, find the value for n in the following present value ordinary annuity formula.

Mathematics

1 answer:

miss Akunina [59]2 years ago

7 0

Answer:

b. (60)

Step-by-step explanation:

n represents the number of payments. If there are 4 per year for 15 years, that's a total of 4×15 = 60 payments.

n = 60

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Ivanshal [37]

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$P(X \leq 1) = P(X = 0) + P(X = 1)$

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$P(X = x) = C_{n,x}.p^{x}.(1-p)^{n-x}$

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