Answer:
Total amount that Matthew's bank will receive is $10099.81.
Step-by-step explanation:
We need to find the amount Matthew's bank will receive after lending him $8,000 for four years at an interest rate of 6 percent, compounded annually.
The formula for compound interest is:
Where A = future value
P= Principal Amount
r = interest rate
and n= time
So in the question we are given:
P= $8000
r = 6% or 0.06
t = 4 (since 4 yeras compounded annually)
A= 8000*(1+0.06)^4
A= 8000*(1.06)^4
A= 10099.81
So, total amount that Matthew's bank will receive is $10099.81.
Answer:
the option are A.
92.4%
B.
7.6%
C.
91.8%
D.
8.2%
Step-by-step explanation:
Think of it what times 61 will equal 66....
61 () = 66
(?%) = 66 /61
(?) = 1.08196
so now it gets tricky get the percentage increase correct
based on the given answer choices I'ld say it is D
% increase = (1.08196 - 1) (100) Why the subtraction of one? ?
= 8.196%
= 8.2 %
Answer:
56 ways.
Step-by-step explanation:
This question is solved by using combinations and permutations chapters in the math book.
To put it simply, we need to find the number of 3 horse combinations we can make from 8 horses. This requires the combinations formula:
here n is the total number of objects to choose from, and r is the number of objects we require in the combination or group.
Since there are 8 horses, n= 8
Since we need to choose only 3 of them, and order does not matter, r= 3
Solving the equation above using these inputs gives us 56 unique ways we can choose the three winners.
Answer:
the probability of a client owning stocks OR bonds is 0.825
Step-by-step explanation:
The computation of the probability of a client owning stocks OR bonds is given below:
= P(stocks) + P(bonds) - P(stocks and bonds)
= 0.60 + 0.50 - (0.55 × 0.50)
= 0.60 + 0.50 - 0.275
= 0.825
Hence, the probability of a client owning stocks OR bonds is 0.825
