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3 years ago

$300 invested at 12% compounded monthly after a period of 1.5 years

Mathematics

1 answer:

GalinKa [24]3 years ago

4 0

Answer: $358.8 to the nearest tenth

Step-by-step explanation:

Compound interest is calculated by Where: A = P(1 + r)t

Where P= 300, r= 12% = 0.12, t= 1.5 years

Slot in the figures

300 (1 + 0.12) 1.5

300 (1.12) 1.5

300x 1.12

336e1.12

A = $ 358.84

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PLEASE HELP ASAP!!! CORRECT ANSWER ONLY PLEASE!!!

Anettt [7]

Answer:

Choice C: approximately 121 green beans will be 13 centimeters or shorter.

Step-by-step explanation:

What's the probability that a green bean from this sale is shorter than 13 centimeters?

Let the length of a green bean be $X$ centimeters.

$X$ follows a normal distribution with

mean $\mu = 11.2$ and
standard deviation $\sigma = 2.1$ .

In other words,

$X\sim \text{N}(11.2, 2.1^{2})$ ,

and the probability in question is $X \le 13$ .

Z-score table approach:

Find the z-score of this measurement:

$\displaystyle z= \frac{x-\mu}{\sigma} = \frac{13-11.2}{2.1} = 0.857143$ . Closest to 0.86.

Look up the z-score in a table. Keep in mind that entries on a typical z-score table gives the probability of the left tail, which is the chance that $Z$ will be less than or equal to the z-score in question. (In case the question is asking for the probability that $Z$ is greater than the z-score, subtract the value from table from 1.)

$P(X\le 13) = P(Z \le 0.857143) \approx 0.8051$ .

"Technology" Approach

Depending on the manufacturer, the steps generally include:

Locate the cumulative probability function (cdf) for normal distributions.
Enter the lower and upper bound. The lower bound shall be a very negative number such as $-10^{9}$ . For the upper bound, enter $13$
Enter the mean and standard deviation (or variance if required).
Evaluate.

For example, on a Texas Instruments TI-84, evaluating $\text{normalcdf})(-1\text{E}99,\;13,\;11.2,\;2.1 )$ gives $0.804317$ .

As a result,

$P(X\le 13) = 0.804317$ .

Number of green beans that are shorter than 13 centimeters:

Assume that the length of green beans for sale are independent of each other. The probability that each green bean is shorter than 13 centimeters is constant. As a result, the number of green beans out of 150 that are shorter than 13 centimeters follow a binomial distribution.

Number of trials $n$ : 150.
Probability of success $p$ : 0.804317.

Let $Y$ be the number of green beans out of this 150 that are shorter than 13 centimeters. $Y\sim\text{B}(150,0.804317)$ .

The expected value of a binomial random variable is the product of the number of trials and the probability of success on each trial. In other words,

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