All categories

2 years ago

What is the present value of 6000 received 14 years from today when the interest rate is 10%

Mathematics

1 answer:

likoan [24]2 years ago

3 0

Answer:

$14400

Step-by-step explanation:

Given data

Principal= 6000

Time= 14 years

Rate= 10%

Let us use the simple interest expression to find the final amount

A=P(1+rt)

substitute

A=6000(1+0.1*14)

A=6000(1+1.4)

A=6000*2.4

A=$14400

Hence based on a simple interest model the final amount is $14400

You might be interested in

Jamie was using fabric for Christmas gifts. Her fabric is 59 inches long. Using all the fabric, how long would each piece be if

nikklg [1K]

Answer:

8.428

Step-by-step explanation:

59 divided by 7

4 0

2 years ago

Select "Growth" or "Decay" to classify each function

natulia [17]

Answer:

decay

growth

decay

i'm sure im in k12 for 9 th grade please tell me if i'm right

Step-by-step explanation:

4 0

3 years ago

Please answer correctly ! Will mark brainliest answer !!!

Andreyy89

Answer:

The answer is the first one.

6 0

2 years ago

The local theater sells tickets to its plays at a rate of $38 each. Patrons who attend multiple shows are encouraged to buy an a

Mekhanik [1.2K]

Answer:

Roger

Step-by-step explanation:

Since he is attending more shows, he will benefit. He will save a net amount of $40

7 0

2 years ago

A travelling salesman sells milkshake mixing machines and on average sells 8.9 machines per month. He needs to sell at least 3 m

Goshia [24]

Answer:

0.67% probability he will have to shut down after this month

Step-by-step explanation:

In a Poisson distribution, the probability that X represents the number of successes of a random variable is given by the following formula:

$P(X = x) = \frac{e^{-\mu}*\mu^{x}}{(x)!}$

In which

x is the number of sucesses

e = 2.71828 is the Euler number

$\mu$ is the mean in the given time interval.

On average sells 8.9 machines per month.

So $\mu = 8.9$

Using the Poisson distribution, what is the probability he will have to shut down after this month

If he sells less than 3 machines.

$P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2)$

$P(X = x) = \frac{e^{-\mu}*\mu^{x}}{(x)!}$

$P(X = 0) = \frac{e^{-8.9}*8.9^{0}}{(0)!} = 0.0001$

$P(X = 1) = \frac{e^{-8.9}*8.9^{1}}{(1)!} = 0.0012$

$P(X = 2) = \frac{e^{-8.9}*8.9^{2}}{(2)!} = 0.0054$

$P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2) = 0.0001 + 0.0012 + 0.0054 = 0.0067$

0.67% probability he will have to shut down after this month

5 0

2 years ago