What is the value of an investment of $650 invested at an annual interest rate of 1.5% compounded monthly for 16 years?

Mathematics

1 answer:

diamong [38]2 years ago

6 0

Answer:

it should be 650

1.5

0.015

Step-by-step explanation:

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The heights of North American women are nor-mally distributed with a mean of 64 inches and a standard deviation of 2 inches. a.

serious [3.7K]

Answer:

0.1587

Step-by-step explanation:

Given the following :

Mean (m) of distribution = 64 inches

Standard deviation (sd) of distribution = 2 inches

Probability that a randomly selected woman is taller than 66 inches

For a normal distribution :

Z - score = (x - mean) / standard deviation

Where x = 66

P(X > 66) = P( Z > (66 - 64) / 2)

P(X > 66) = P(Z > (2 /2)

P(X > 66) = P(Z > 1)

P(Z > 1) = 1 - P(Z ≤ 1)

P(Z ≤ 1) = 0.8413 ( from z distribution table)

1 - P(Z ≤ 1) = 1 - 0.8413

= 0.1587

5 0

3 years ago

Tom opens a bank account and makes an initial deposit of 500$. Then banker tells Tom that he is going to receive an annual rate

Arturiano [62]

$~~~~~~ \textit{Compound Interest Earned Amount} \\\\ A=P\left(1+\frac{r}{n}\right)^{nt} \quad \begin{cases} A=\textit{accumulated amount}\\ P=\textit{original amount deposited}\dotfill &\$500\\ r=rate\to 6\%\to \frac{6}{100}\dotfill &0.06\\ n= \begin{array}{llll} \textit{times it compounds per year}\\ \textit{annually, thus once} \end{array}\dotfill &1\\ t=years\dotfill &15 \end{cases} \\\\\\ A=500\left(1+\frac{0.06}{1}\right)^{1\cdot 15}\implies A=500(1.06)^{15}\implies A\approx 1198.28$