1/24 or 4%
There is a total of 24 outcomes
4 letters • 6 numbers = 24 possible outcomes
There are 6 different outcomes when it comes to each letter.
(a1, a2, b1, b2 etc)
so getting a5 is a 1/24 chance because there 24 outcomes and only one of them is a5
The number of years it would take $4000 to grow to $4616 is 2.92 years.
<h3>How many years would it take the investment to have a value of $4616?</h3>
When an amount earns compound interest compounded semi annually, it means that both the amount invested and the interest accrued increases in value twice yearly.
Number of years = (In FV / PV) / r
- r = 9.8/2 = 4.90%
- FV = future value = 4616
- PV = present value = 4000
(In 4616 / 4000) / 0.049 = 2.92 years
The depth is what makes this a three dimensional figure since there are three dimensions: length, width, and depth! All three of these dimensions are used to find the volume of a rectangular prism.
