We have that every quarter, he will get an 0.8% interest rate. We also have that there will be 14*4=56 periods of repayment. We have that by the formula, if there are n periods and x% is the interest rate, the capital is multiplied by (100+x%)^n.
Suppose Micah invests x money. Then, we have that after 14 years, the capital available will be C=

. We have that C=18500$ and hence that 18500=x*1.562. Thus, solving for x we have that x=11841$.
Micah will need to invest only 11841$ in order to pay for his boat; this shows the importance of saving since he earns a lot of money, around 7k $.
Answer:
The binomial mean, or the expected number of successes in n trials, is E(X) = np. The standard deviation is Sqrt(npq), where q = 1-p. The standard deviation is a measure of spread and it increases with n and decreases as p approaches 0 or 1.
Step-by-step explanation:
Answer:
B. -2.3
Step-by-step explanation:
It looks like the graph goes down about 7, and over 3, so B makes sense.