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Answer:
6 Years
Step-by-step explanation:
Orlando invests $1000 at 6% annual interest compounded daily.
Orlando's investment =
Bernadette invests $1000 at 7% simple interest.
Bernadette's investment = A = 1000(1+0.07×t)
By trail and error method we will use t = 5
Bernadette's investment will be after 5 years
1000(1 + 0.07 × 5)
= 1000(1 + 0.35)
= 1000 × 1.35
= $1350
Orlando's investment after 5 years
=
=
= 1000(1.349826)
= 1349.825527 ≈ $1349.83
After 5 years Orlando's investment will not be more than Bernadette's.
Therefore, when we use t = 6
After 6 years Orlando's investment will be = $1433.29
and Bernadette's investment will be = $1420
So, after 6 whole years Orlando's investment will be worth more than Bernadette's investment.
Answer:
1) y = 3x+5
2) y =
3) y = -x + 0
4) y =
5) y =
Step-by-step explanation:
y = mx+b
In slope-intercept form, these are important to know:
- y and x should stay as variables
- m = slope of the line
- b = y intercept
Using the facts above⬆, we can solve these problems
Remember: Substitute m and b using the given information
1) y = 3x+5
2) y =
3) y = -x + 0
4) y =
5) y =
Hope this helps :)
Have a great day!
Answer:
The expectation of the policy until the person reaches 61 is of -$4.
Step-by-step explanation:
We have these following probabilities:
0.954 probability of a loss of $50.
1 - 0.954 = 0.046 probability of "earning" 1000 - 50 = $950.
Find the expectation of the policy until the person reaches 61.
Each outcome multiplied by it's probability, so:
The expectation of the policy until the person reaches 61 is of -$4.