Using the rule of 72,= , how long will it take for the principal to double with an annual compound interest rate of 6%?>6 yea
1 answer:
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Answer:
Option A is correct
the expression is equal to is
Explanation:
Given expression is,
Multiply and divide by the denominator by in the given expression, we have,
or
use :
then;
Therefore, the expression is equal to is,
Answer:
7.64% probability that they spend less than $160 on back-to-college electronics
Step-by-step explanation:
Problems of normally distributed samples can be solved using the z-score formula.
In a set with mean and standard deviation
, the zscore of a measure X is given by:
The Z-score measures how many standard deviations the measure is from the mean. After finding the Z-score, we look at the z-score table and find the p-value associated with this z-score. This p-value is the probability that the value of the measure is smaller than X, that is, the percentile of X. Subtracting 1 by the pvalue, we get the probability that the value of the measure is greater than X.
In this problem, we have that:
Probability that they spend less than $160 on back-to-college electronics
This is the pvalue of Z when X = 160. So
has a pvalue of 0.0763
7.64% probability that they spend less than $160 on back-to-college electronics