Answer:
b $3,272.43
Step-by-step explanation:
A = p(1+r/n)^nt
Where
A= future value
P= principal = $2500
r= interest rate = 6.75% = 0.0675
n = number of periods = 12
t = time = 4 years
A = p(1+r/n)^nt
= 2500(1+0.0675/12)^12*4
= 2500(1+0.005625)^48
= 2500(1.005625)^48
= 2500(1.3089737859257)
= 3272.4344648144
Approximately
A= $3272.43
He will have $3272.43 to give as down payment in 4 years
The sum will be x+y because their ages are variables.
Answer:
Step-by-step explanation:
Answer:
Step-by-step explanation:
Let X be average interest paid monthly by a bank's Visa cardholders
Given that X is N(28, 8)
In the following to find out probability we convert X to z score and use std normal distribution table
Z = 
Probability being less than 1 is here equal to the proportion also.
A) P(X>32) = P(Z>0.5)=0.5-0.1915=0.3085
B) P(X>40) = P(Z>1)=0.5-0.3413=0.1687
C) P(X<19) = P(Z<-1.125)=0.5-0.0438=0.4562
D) We have to find 19th percentile here
Z =-0.88