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omeli [17]
3 years ago
11

Calculate the principal amount which earns $500 simple interest over 3 Years at a rate of 8% p.a round to the nearest cent

Mathematics
1 answer:
timama [110]3 years ago
7 0
$500 was earned over 3 years
so, to find one year
500 ÷ 3 = $166.67

Interest for one year is $166.67
Interest rate for one year is 8%

8% = 166.67
1% = $20.83
100% = $2083.33

Principal amount is $2083.33
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Answer:

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Step-by-step explanation:

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(Ross 5.15) If X is a normal random variable with parameters µ " 10 and σ 2 " 36, compute (a) PpX ą 5q (b) Pp4 ă X ă 16q (c) PpX
pochemuha

Answer:

(a) 0.7967

(b) 0.6826

(c) 0.3707

(d) 0.9525

(e) 0.1587

Step-by-step explanation:

The random variable <em>X</em> follows a Normal distribution with mean <em>μ</em> = 10 and  variance <em>σ</em>² = 36.

(a)

Compute the value of P (X > 5) as follows:

P(X>5)=P(\frac{x-\mu}{\sigma}>\frac{5-10}{\sqrt{36}})\\=P(Z>-0.833)\\=P(Z

Thus, the value of P (X > 5) is 0.7967.

(b)

Compute the value of P (4 < X < 16) as follows:

P(4

Thus, the value of P (4 < X < 16) is 0.6826.

(c)

Compute the value of P (X < 8) as follows:

P(X

Thus, the value of P (X < 8) is 0.3707.

(d)

Compute the value of P (X < 20) as follows:

P(X

Thus, the value of P (X < 20) is 0.9525.

(e)

Compute the value of P (X > 16) as follows:

P(X>16)=P(\frac{x-\mu}{\sigma}>\frac{16-10}{\sqrt{36}})\\=P(Z>1)\\=1-P(Z

Thus, the value of P (X > 16) is 0.1587.

**Use a <em>z</em>-table for the probabilities.

8 0
3 years ago
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