How much would $200 invested at 7% interest compounded annually be
2 answers:
Answer:
It will be worth $280.51.
Step-by-step explanation:
The compound interest formula is given by:
Where A is the amount of money, P is the principal(the initial sum of money), r is the interest rate(as a decimal value), n is the number of times that interest is compounded per years and t is the time the money is invested or borrowed for, in years.
In this problem:
We want to find A, when
It will be worth $280.51.
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Answer:
Probability that the student scored between 455 and 573 on the exam is 0.38292.
Step-by-step explanation:
We are given that Math scores on the SAT exam are normally distributed with a mean of 514 and a standard deviation of 118.
<u><em>Let X = Math scores on the SAT exam</em></u>
So, X ~ Normal()
The z score probability distribution for normal distribution is given by;
Z = ~ N(0,1)
where, = population mean score = 514
= standard deviation = 118
Now, the probability that the student scored between 455 and 573 on the exam is given by = P(455 < X < 573)
P(455 < X < 573) = P(X < 573) - P(X 455)
P(X < 573) = P( <
) = P(Z < 0.50) = 0.69146
P(X 2.9) = P(
) = P(Z
-0.50) = 1 - P(Z < 0.50)
= 1 - 0.69146 = 0.30854
<em>The above probability is calculated by looking at the value of x = 0.50 in the z table which has an area of 0.69146.</em>
Therefore, P(455 < X < 573) = 0.69146 - 0.30854 = <u>0.38292</u>
Hence, probability that the student scored between 455 and 573 on the exam is 0.38292.