The balance in the account after 13 years is $8233.79.
<h3>Compound interest: Calculating balance in an account</h3>
From the question, we are to use the compound interest formula to compute the balance in the account
From the compound interest formula, we have that
A = P(1 + r/n)^nt
Where A is the amount
P is the principal
r is the interest rate
n is the number of times compounded per year
and t is the time.
From the given information,
P = $7000
r = 3.3%= 0.033
n = 1
t = 13
Putting the parameters into the formula
A = P(1 + r/n)^nt
A = 7000(1 + 0.033/1)^(1×5)
A = 7000(1 + 0.033)^5
A = $8233.79
Hence, the balance is $8233.79
Learn more on Compound interest here: brainly.com/question/25545513
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Answer:
four times a number less 10 is equall to 16 ia not
Answer:
a) P(Y > 76) = 0.0122
b) i) P(both of them will be more than 76 inches tall) = 0.00015
ii) P(Y > 76) = 0.0007
Step-by-step explanation:
Given - The heights of men in a certain population follow a normal distribution with mean 69.7 inches and standard deviation 2.8 inches.
To find - (a) If a man is chosen at random from the population, find
the probability that he will be more than 76 inches tall.
(b) If two men are chosen at random from the population, find
the probability that
(i) both of them will be more than 76 inches tall;
(ii) their mean height will be more than 76 inches.
Proof -
a)
P(Y > 76) = P(Y - mean > 76 - mean)
= P( ) > )
= P(Z > )
= P(Z > )
= P(Z > 2.25)
= 1 - P(Z ≤ 2.25)
= 0.0122
⇒P(Y > 76) = 0.0122
b)
(i)
P(both of them will be more than 76 inches tall) = (0.0122)²
= 0.00015
⇒P(both of them will be more than 76 inches tall) = 0.00015
(ii)
Given that,
Mean = 69.7,
= 1.979899,
Now,
P(Y > 76) = P(Y - mean > 76 - mean)
= P( )) > )
= P(Z > )
= P(Z > ))
= P(Z > 3.182)
= 1 - P(Z ≤ 3.182)
= 0.0007
⇒P(Y > 76) = 0.0007
The answer is: 6, 7, 7 1/2, 7 3/4.