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3 years ago

Carmencita is 12 years old and she is saving for a car. She wants to have $5,000 by the time she is 16 years

Mathematics

1 answer:

kati45 [8]3 years ago

4 0

Answer:

$ 22.22

Step-by-step explanation:

Let

P = amount to save per week

B = expected accurate at 16 years = $5000

r = APR = 3.9% = 0.039

n = numbers of week in a year = 52weeks

t = 16 - 12 = 4 years terms of savings.

Using,

P = (B * r/n)/{(1 + (r/n))^(nt) -1}

P = (5000 * 0.039/52)/{(1 + (0.039/52))^(52 * 4) -1}

P = $22.22

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Step-by-step explanation:

Previous concepts

The expected value of a random variable X is the n-th moment about zero of a probability density function f(x) if X is continuous, or the weighted average for a discrete probability distribution, if X is discrete.

The variance of a random variable X represent the spread of the possible values of the variable. The variance of X is written as Var(X).

Solution to the problem

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And the variance is given by:

$Var(X) = E(X^2) +[E(X)]^2 = 23.36 -[4.74]^2 = 0.8924$

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$Sd(X) =\sqrt{0.8924} =0.9447$

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