Answer:
$14,277.80
Step-by-step explanation:
The standard formula for compound interest is given as;
A = P(1+r/n)^(nt) .....1
Where;
A = final amount/value
P = initial amount/value (principal)
r = rate yearly
n = number of times compounded yearly.
t = time of investment in years
For this case;
P = $7,400
t = 8 years
n = 4 (quarterly)
r = 9.5% = 0.095
Using equation 1.
A = $7,400(1+0.095/4)^(4×7)
A = $7,400(1.02375)^(28)
A = $7,400(1.929432606035)
A = $14,277.80
final amount/value after 8 years A =$14,277.80
Your answer would be -11.
Answer:
The answer is
Step-by-step explanation:
The probability from 1.5 ≤ x ≤ 3 can be calculated by dividing the Area from x=1.5 to x=3 by the total Area of the distribution.
The given distribution is rectangular shaped, so its Area will be = Length x Width = 1 x 3 = 3 square units
From x = 1.5 to x = 3, the length is 1.5 and width is 1. So the area between these two intervals = 1.5 square units.
Thus, <span>P(1.5 ≤ X ≤ 3) = 1.5/3 = 0.5
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