All categories

3 years ago

Walter's savings account has a balance of $273. After 5 years, what will the amount of interest be at 5% compounded quarterly?

1 answer:

6 0

Given:
Principal = $273
Interest rate = 5% compounded quarterly
time = 5 years

A = P (1 + r/n)^nt

A = amount of money accumulated plus interest
P = principal
r = interest rate (in decimal form)
n = number of times the interest is compounded per year
t = total number of years the amount is deposited

A = $273 (1 + 0.05/4)⁴*⁵
A = $273 (1 + 0.0125)²⁰
A = $273 (1.0125)²⁰
A = $273 * 1.2820
A = $349.99

$349.99 - 273 = $76.99

The compounded interest amounts to $76.99

You might be interested in

In a factory A, about 3 out of every 2,000 toys have a defect. In factory B, about 5 out of every 4,500 toys have a defect. One

gavmur [86]

Answer:

Step-by-step explanation:

Factory A proportion:

3 : 2,000

Factory B proportion:

5 : 4,500 (this can be simplified):

1 : 900

Now plug in 18,000 to each proportion:

Factory A:

x : 18,000

3 : 2,000

x = 27

Factory B:

x : 18,000

1 : 900

x = 20

Factory A had the greater amount of defects, 27

7 0

3 years ago

A jar contains 12 blue pens, 7 black pens, and 3 red pens. Marco picks two red pens at random, without replacement.

natta225 [31]

A) 3/22x2/22 represents the probability

5 0

3 years ago

Math help please will give brainliest 10 points!!

mestny [16]

17. Its answer C i wil tell you the other one in a sec

3 0

3 years ago

Sue has 20 biscuits in a tin There are 12 plain biscuits 5 chocolate biscuits 3 currant biscuits Sue takes at 2 random biscuits

vagabundo [1.1K]

Answer:

111 / 190

Step-by-step explanation:

Total biscuits = 20

Plain, P = 12

Chocolate, C = 5

Currant, K = 3

Assume without replacement :

Probability that biscuit are of the same type :

P(plain) :

12 / 20 * 11 / 19 = 132 / 380

P(chocolate) :

5/ 20 * 4 / 19 = 20/ 380

P(currant) :

3/20 * 2 /19 = 6 / 380

Therefore,

Probability that biscuit is of the same type :

P(plain) + P(chocolate) + P(currant)

132/380 + 20/380 + 6/380

158 / 380 = 79 / 190

Therefore, probability that biscuit aren't of the same type :

1 - P(biscuit is of same type)

1 - 79/190

(190 - 79) / 190

111 / 190

7 0

3 years ago

App 19.study

lions [1.4K]

Answer:

$1 \to 22 \to 0.176$

$2 \to 13 \to 0.104$

$3 \to 18 \to 0.144$

$4 \to 29 \to 0.232$

$5 \to 37 \to 0.296$

$6 \to 6 \to 0.048$

Step-by-step explanation:

Given

$n = 125$

See attachment for proper table

Required

Complete the table

Experimental probability is calculated as:

$Pr = \frac{Frequency}{n}$

We use the above formula when the frequency is known.

For result of roll 2, 4 and 6

The frequencies are 13, 29 and 6, respectively

So, we have:

$Pr(2) = \frac{13}{125} = 0.104$

$Pr(4) = \frac{29}{125} = 0.232$

$Pr(6) = \frac{6}{125} = 0.048$

When the frequency is to be calculated, we use:

$Pr = \frac{Frequency}{n}$

$Frequency = n * Pr$

For result of roll 3 and 5

The probabilities are 0.144 and 0.296, respectively

So, we have:

$Frequency(3) = 125 * 0.144 = 18$

$Frequency(5) = 125 * 0.296 = 37$

For roll of 1 where the frequency and the probability are not known, we use:

$Total \ Frequency = 125$

So:

Frequency(1) added to others must equal 125

This gives:

$Frequency(1) + 13 + 18 + 29 + 37 + 6 = 125$

$Frequency(1) + 103 = 125$

Collect like terms

$Frequency(1) =- 103 + 125$

$Frequency(1) =22$

The probability is then calculated as:

$Pr(1) = \frac{22}{125}$

$Pr(1) = 0.176$

So, the complete table is:

$1 \to 22 \to 0.176$

$2 \to 13 \to 0.104$

$3 \to 18 \to 0.144$

$4 \to 29 \to 0.232$

$5 \to 37 \to 0.296$

$6 \to 6 \to 0.048$

5 0

3 years ago