Answer:
Step-by-step explanation:
The formula for the amount accrued on an investment earning compound interest is
where
P = the amount of money invested
r = the interest rate per payment period expressed as a decimal fraction
t = the number of periods
Your formula is
Answer:
a) 0.25
b) 0.25
c) 0.0625
Step-by-step explanation:
The complete question is:
Do you remember when breakfast cereal companies placed prizes in boxes of cereal? Possibly you recall that when a certain prize or toy was particularly special to children, it increased their interest in trying to get that toy. How many boxes of cereal would a customer have to buy to get that toy? Companies used this strategy to sell their cereal.
One of these companies put one of the following toys in its cereal boxes: a block (B), a toy watch (W), a toy ring (R), and a toy airplane (A). A machine that placed the toy in the box was programmed to select a toy by drawing a random number of 1 to 4. If a 1 was selected, the block (or B) was placed in the box; if a 2 was selected, a watch (or W) was placed in the box; if a 3 was selected, a ring (or R) was placed in the box; and if a 4 was selected, an airplane (or A) was placed in the box. When this promotion was launched, young children were especially interested in getting the toy airplane.
What is the probability of getting an airplane in the first cereal box?
Since the machine randomly selects toys, each toy has the same probability of being obtained in a cereal box.
Then, the total outcomes are 4 and the probability of getting an airplane in the first cereal box is 0.25 (25%).
What is the probability of getting an airplane in the second cereal box?
Two independent events do not change the probability of occurrence of one event or another.
The probability of getting an airplane in the second cereal box is 0.25 (25%).
What is the probability of getting airplanes in both cereal boxes?
P(1°∩2°)= P(1°) × P(2°) =
P(1°∩2°)= 0.0625 = 6.25%