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BARSIC [14]
3 years ago
13

7. Find the amount of money accumulated if you invest $10,000 at 3% interest compounded continuously for 2 years. Round your

Mathematics
1 answer:
IrinaK [193]3 years ago
4 0

Answer:

$10618.37

Step-by-step explanation:

Use the formula for compound interest:

P(t) = P_0e^(rt)

You can look the formula up online to find what each variable represents.

First, our principal amount (P) is 10,000. Our interest rate (r) is 3% and our time (t) is 2. Substitute these into the equations in each variables' place. The equation will look like this:

P(t) = 10,000e^(0.03x2)

P(t) = 10,000e^(0.06)

Note that e is approximately 2.7183 .

Using your calculator, now simply find P(t).

You should get 10618.36972 as your answer. Round that to the nearest cent to get $10618.37 .

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Answer:

The probability that none of the 10 calls result in a reservation is 0.60%.  In turn, the probability that at least one call results in a reservation being made is 99.40%.

Step-by-step explanation:

Since approximately 40% of the calls to an airline reservation phone line result in a reservation being made, supposing an operator handles 10 calls, to determine what is the probability that none of the 10 calls result in a reservation, and what is the probability that at least one call results in a reservation being made, the following calculations must be performed:

0.6 ^ 10 = X

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Therefore, the probability that none of the 10 calls result in a reservation is 0.60%.

100 - 0.60 = 99.40

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