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3 years ago

14

You want to save for a brand-new car. You put the $5,000 your Grandma gave you when you graduated in an account that pays 6% int

erest and is compounded monthly. How much will you have at the end of five years? Hint: use Compound Interest formula A = P (1 +r/n)nt.

2 answers:

Zielflug [23.3K]3 years ago

8 0

Answer:

6,744.25

Step-by-step explanation:

Delicious77 [7]3 years ago

3 0

Answer:

6,744.25

Step-by-step explanation:

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Read 2 more answers

If five numbers are selected at random from the set {1,2,3,...,20}, what is the probability that their minimum is larger than 5?

Zanzabum

Answer:

the probability that their minimum is larger than 5 is 0.2373

Step-by-step explanation:

For calculate the probability we need to make a división between the total ways to selected the 5 numbers and the ways to select the five numbers in which every number is larger than 5.

So the number of possibilities to select 5 numbers from 20 is:

<u>20 </u> * <u> 20 </u>* <u> 20 </u> *<u> 20 </u>* <u> 20 </u>

First number 2nd number 3rd number 4th number 5th number

Taking into account that a number can be chosen more than once, and the order in which you select the numbers matters, for every position we have 20 options so, there are $20^{5}$ ways to select 5 numbers.

Then the number of possibilities in which their minimum number is larger than 5 is calculate as:

<u>15 </u> * <u> 15 </u>* <u> 15 </u> *<u> 15 </u>* <u> 15 </u>

First number 2nd number 3rd number 4th number 5th number

This time for every option we can choose number from 6 to 20, so we have 15 numbers for every option and the total ways that satisfy the condition are $15^{5}$

So the probability P can be calculate as:

$P=\frac{15^{5} }{20^{5} } \\P=0.2373$

Then the probability that their minimum is larger than 5 is 0.2373

7 0

3 years ago