$6000 invested at an APR a 4.4% for 20 years what is the balance in the account after 20 years
1 answer:
Answer:
The balance in the account after 20 years will be $11280.
Step-by-step explanation:
This is a simple interest problem.
The simple interest formula is given by:
In which E are the earnings, P is the principal(the initial amount of money), I is the interest rate(yearly, as a decimal) and t is the time.
After t years, the total amount of money is:
.
In this problem
We want to find T, when
The first step is find the earnings due to interest. So
Adding to the principal to find the balance
The balance in the account after 20 years will be $11280.
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Answer:
And we can find the nnumber of deviations from the mean for each limit given:
So we are 3 deviation from the mean and using the empirical rule we know that within 3 deviations from the mean we have 99.7% of the values
Step-by-step explanation:
Let X the random variable that represent the amount of time it takes him to arrive, and for this case we know the distribution for X is given by:
Where and
We want to find this probability:
And we can use the z score formula given by:
And we can find the nnumber of deviations from the mean for each limit given:
So we are 3 deviation from the mean and using the empirical rule we know that within 3 deviations from the mean we have 99.7% of the values