Answer:
The states of nature refer to future events, not under the control of the decision maker, which may occur. States of nature should be defined so that they are mutually exclusive and collectively exhaustive.
You deposit some money into a bank account paying 2% simple interest per 6 months. You received $15 in interest after 9 months. How much the deposit (principal) was?
Result:
The principal was $500.
Explanation:
STEP 1: Convert interest rate of 2% per 6 months into rate per year.
STEP 2: Convert 9 months into years.
STEP 3: Find principal by using the formula , where I is interest, P is total principal, i is rate of interest per year, and t is total time in years.
In this example I = $15, i = 4% and t = 0.75 years, so
Answer:
The decrease from 20 to 11 is 9, and that is 45% of 20.
Hope this helps!