If a publisher of nontechnical books takes great pains to ensure that its books are free of typos, so that the probability of an
y given page containing at least one such error is .005 & errors are independent from page to page. What is the probability that:
(a) One of its 400-page novels will contain exactly 1 page with errors? (b) At most three pages are with errors.
(a) One of its 400-page novels will contain exactly 1 page with errors? (b) At most three pages are with errors.
1 answer:
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Answer:
1 year: $2060
2 years: $2121.80
3 years: $2185.45
Step-by-step explanation:
Compound interest formula is A = P(1 + ) where A is the final amount, P is the initial principal balance, r is the interest rate, n is the number of times interest applied per time period, and t is the number of time periods elapsed. In our case, P would be equal to 2000 dollars, r would be equal to 0.03, for 3 percent, and our n value would just be one, so the final equation is:
First, let's evaluate t for 1, as in one year.
= 2000 x 1.03 = 2060
Two years: 2000 * 1.03 squared = 2121.80
Three years: 2000 * 1.03^3 = 2185.45!
Hope this helps!