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2 answers:
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Answer:
amount in 30 years is $1787.0977
interest is $1387.0977
Step-by-step explanation:
Given data
principal amount = $400
rate = 5 % = 0.05
time period = 30 years
to find out
amount in 30 years and total interest
Solution
we know its interest compounded monthly so n = 12
and interest compounded monthly formula is
amount = principal ............1
put the value principal , n , rate and time in equation 1
we get amount
amount = 400
amount = 1787.0977
amount in 30 years is $1787.0977
and interest = amount - principal ............2
put the value amount and principal in equation 2
we get interest = $1787.0977 - $400
interest =$1387.0977
Answer:
μ ≈ 2.33
σ ≈ 1.25
Step-by-step explanation:
Each person has equal probability of ⅓.
The mean is the expected value:
μ = E(X) = ∑ X P(X)
μ = (1) (⅓) + (2) (⅓) + (4) (⅓)
μ = ⁷/₃
The standard deviation is:
σ² = ∑ (X−μ)² P(X)
σ² = (1 − ⁷/₃)² (⅓) + (2 − ⁷/₃)² (⅓) + (4 − ⁷/₃)² (⅓)
σ² = ¹⁴/₉
σ ≈ 1.25