Spike has a life insurance policy with $1.5 million benefit. If this money was put into an account with a 5.2% interest rate, ho
2 answers:
Answer:
Step-by-step explanation:
Life insurances with interest are the same as bank interest rates in the form that they are compound interest. Since they are compound interests we can use the Exponential Growth Formula to calculate the insurance policy payout. Which would be the following,
Where:
- T is the final payout
- a is the initial amount
- r is the interest rate in decimal form
- t is the time
Since we have the initial amount and the interest rate we can plug it into the formula to personalize the formula for our situation.
Since we don't have the amount of years Spike has had his life insurance we cannot calculate the payout.
EXAMPLE:
If spike dies <u>after 2 years</u> of buying his life insurance the beneficiaries will get the following payout.
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The probability of getting a total of 8 when two dice are rolled is 0.139.
Probability is a number that expresses the likelihood or chance that a specific event will take place. Probabilities can be represented by proportions on a 0–1 scale.
A single die will have six sides with the numbers: 1, 2, 3, 4, 5, and 6. Each of these events is equally likely to occur if the dice are rolled fairly. So the probability of getting any side of the number is 1/6. Therefore, the probability of getting 1 in dice is 1/6, 2 is 1/6, and so on.
Therefore, the total possible outcomes are the multiplication of the total possible outcomes on dice 1 and dice 2, which is 36.
This possible outcome of rolling two dice is given by,
The probability of getting a total of 8 from both dice is given by, (2, 6) (3, 5) (4, 4) (5, 3) (6, 2). So the number of favorable outcomes is 5 and the total outcome is 36. The probability is P(getting a total of 8 from both dices)=5/36= 0.139.
The answer is 0.139.
The complete question is -
Consider rolling dice and getting a total of 8. Find the probability of two dice are rolled. (Enter the value of probability in decimals. Round the answer to three decimal places).
To know more about dice probability:
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