Jacob started a savings account with a 1% annual simple interest rate. His principal deposit was $147. He saved the money for 6
1 answer:
Answer:
The interest Jacob earns after 6 years is $8.82
Step-by-step explanation:
The given parameters are;
The simple interest rate of the savings account, R = 1%
The principal deposit to the savings account, P = $147
The time duration Jacob saved the money, T = 6 years
The formula for simple interest, I, is given as follows;
Substituting the known values gives;
The interest Jacob earns after 6 years = $8.82.
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Answer:
P(Z < 2.37) = 0.9911.
Step-by-step explanation:
We are given that Let z denote a random variable that has a standard normal distribution.
Let Z = a random variable
So, Z ~ Standard Normal(0, 1)
As we know that the standard normal distribution has a mean of 0 and variance equal to 1.
Z = ~ N(0,1)
where, = mean = 0
= standard deviation = 1
Now, the probability that z has a value less than 2.37 is given by = P(Z < 2.37)
P(Z < 2.37) = P(Z < ) = P(Z < 2.37) = 0.9911
The above probability is calculated by looking at the value of x = 2.37 in the z table which has an area of 0.9911.
Answer:
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Step-by-step explanation:
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