Step-by-step explanation:
Let's look at what we know. We know that...
P=2000
r=0.04 (Change 4% to a decimal)
t=7 (25 years minus 18 years equals 7)
n=1
Since we are compounding each year, we need to use this equation:
Now just plug the numbers in: (Answer to #1:)
This equals 2631.86
When we round, this equals to $2,632. (Answer to #2).
Answer: 0.0791
Step-by-step explanation:
Given : The probability that a baseball player will get a hit in any one at bat is 0.250.
Let x be the first hit.
According to the geometric probability , the probability that x (th) trial is the first success = , where p is the probability of getting success in each trial.
As per given p= 0.250
Then, the probability that he will get his first hit on his 5th at bat will be :
Hence, the probability that he will get his first hit on his 5th at bat is 0.0791 .