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malfutka [58]
2 years ago
9

if $100 is deposited in an account each month for 10 years and the account earns 7% compounded monthly; how much will be in the

account after the last deposit is made?
Mathematics
1 answer:
dsp732 years ago
8 0
The compound formula is 
A = P(1+ r/n)^nt
Where A is the final amount
P is the principal (initial/starting amount)
R is the rate of interest
N is the number of times per year that the interest is compounded,
T is the time in years.

Plug each value into the equation, so you should get
A = 100(1+0.07/12)^(12)(10)

Simplify that. The answer should be...
...
...
A = $200.97
will be in the account after the last deposit is made. 
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2 If a hockey team loses 33% of the games they play, what is the probability that this team will win exactly 10 games out of the
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  • They lose 33% of games i.e 0.33
  • They win 67% of games i e 0.67

So

  • P(A)=0.33
  • P(A')=0.67

Now

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  • They lose=5

The required probability

\\ \rm\rightarrowtail P(A')^{10}\times P(A)^5\times ^{15}C_{10}

\\ \rm\rightarrowtail (0.33)^{5}\times (0.67)^{10}\times \dfrac{15!}{5!10!}

\\ \rm\rightarrow 0.0039(0.0182)\times\dfrac{15(14)(13)(12)(11)10!}{5!10!}

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\\ \rm\rightarrowtail 0.00007098(3003)

\\ \rm\rightarrowtail 0.213

So probability

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Option B

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then put a point after the 8 then add a 0.

Your final answer should be 40% of $20 is $8.00

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