The amount gotten after $1689 invested for 4 years at 3% compounded annually is $1901
The amount of money gained after an investment is compounded is given by:
Where P is principal, A is the final amount, r is the rate, n is the number of times compounded per period and t is the time
Given that P = $1689, t = 4, r = 3% = 0.03, n = 1, hence:
The amount gotten after $1689 invested for 4 years at 3% compounded annually is $1901
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Answer:
The probability that he ends up with a full house is 0.0083.
Step-by-step explanation:
We are given that a gambler has been dealt five cards—two aces, one king, one 3, and one 6. He discards the 3 and the 6 and is dealt two more cards.
We have to find the probability that he ends up with a full house (3 cards of one kind, 2 cards of another kind).
We know that gambler will end up with a full house in two different ways (knowing that he has given two more cards);
Only in these two situations, he will end up with a full house.
Now, there are three kings and two aces left which means at the time of drawing cards from the deck, the available cards will be 47.
So, the ways in which we can draw two kings from available three kings is given by = {∵ one king is already there}
= {∵
}
= = 0.0028
Similarly, the ways in which one king and one ace can be drawn from available 3 kings and 2 aces is given by =
=
= = 0.0055
Now, probability that he ends up with a full house =
= = <u>0.0083</u>.