2 years ago

1 Suppose that $67,000 is invested at 55% interest, compounded quarterly.

Mathematics

1 answer:

Scorpion4ik [409]2 years ago

5 0

There is missing data here. We have the rate and principal amount but no value given in terms of years.

The formula needed is A = p(1 + (r/n))^(nt).

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Answer:

P(X>4)= 0.624

Step-by-step explanation:

Given that

n = 10

p= 0.5 ,q= 1 - p = 0.5

Two fifth of 10 = 2/5 x 10 =4

It means that we have to find probability P(X>4).

P(X>4)= 1 -P(X=0)-P(X=1)-P(X=2)-P(X=3)-P(X=4)

We know that

$P(X=x)=(_{x}^{n})\ p^xq^{n-x}$

$P(X=0)=(_{0}^{10})\ 0.5^0\ 0.5^{10}=0.0009$

$P(X=1)=(_{1}^{10})\ 0.5^1\ 0.5^{9}=0.0097$

$P(X=2)=(_{2}^{10})\ 0.5^2\ 0.5^{8}=0.043$

$P(X=3)=(_{3}^{10})\ 0.5^3\ 0.5^{7}=0.117$

$P(X=4)=(_{4}^{10})\ 0.5^3\ 0.5^{7}=0.205$

P(X>4)= 1 -P(X=0)-P(X=1)-P(X=2)-P(X=3)-P(X=4)

P(X>4)= 1 -0.0009 - 0.0097 - 0.043 - 0.117-0.205

P(X>4)= 0.624

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