The amount needed such that when it comes time for retirement is $2,296,305. This problem solved using the future value of an annuity formula by calculating the sum of a series payment through a specific amount of time. The formula of the future value of an annuity is FV = C*(((1+i)^n - 1)/i), where FV is the future value, C is the payment for each period, n is the period of time, and i is the interest rate. The interest rate used in the calculation is 4.1%/12 and the period of time used in the calculation is 30*12 because the basis of the return is a monthly payment.
FV = $3,250*(((1+(4.1%/12)^(30*12)-1)/(4.1%/12))
Answer: £122.4
Step-by-step explanation:
Given
The rate of interest is 4%
The principal invested is £1500
the time period is 2 years
Compound interest is given by

put values
![C.I.=1500(1+0.04)^2-1500\\C.I.=1500[1.04^2-1]\\C.I.=1500[1.0816-1]\\C.I.=1500\times 0.0816\\C.I.=122.4](https://tex.z-dn.net/?f=C.I.%3D1500%281%2B0.04%29%5E2-1500%5C%5CC.I.%3D1500%5B1.04%5E2-1%5D%5C%5CC.I.%3D1500%5B1.0816-1%5D%5C%5CC.I.%3D1500%5Ctimes%200.0816%5C%5CC.I.%3D122.4)
Therefore, interest earned is £122.4
Answer:
40
Step-by-step explanation:
its 40 because bob is orange.
Answer: 0.01145
Step-by-step explanation:
We use Binomial distribution , where the probability of getting x successes in n trial is given by :-
, p = probability of getting each success in each trial.
As per given
The proportion that a car with a certain protection system will be recovered= p=0.87
n= 8
Let x be the number of cars will be recovered.
Then, the probability that 4 of 8 stolen cars will be recovered:


Hence, the required probability is 0.01145.