Leo is looking at two different savings plans. The first plan requires an initial deposit of $500 and grows at an annual interes
2 answers:
Answer:
3rd Option and 4th Option
Step-by-step explanation:
Note: The options to the question is attached as picture below
<u>1st case</u>
Initial deposit (P) = 500
Annual interest rare (r) = 2.5%
Account balance after x years, y = P(1+r/100)×
y = 500(1+2.5/100)×
y = 500(1+0.025)×
y = 500(1.025)× ----- 3rd option
<u>2nd case</u>
Initial deposit (P) = 400
Annual interest rare (r) = 2%
Account balance after x years, y = P(1+r/100)×
y = 400(1+2/100)×
y = 400(1+0.02)×
y = 400(1.02)× ---- 4th option
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Answer:
(A) The odds that the taxpayer will be audited is approximately 0.015.
(B) The odds against these taxpayer being audited is approximately 65.67.
Step-by-step explanation:
The complete question is:
Suppose the probability of an IRS audit is 1.5 percent for U.S. taxpayers who file form 1040 and who earned $100,000 or more.
A. What are the odds that the taxpayer will be audited?
B. What are the odds against such tax payer being audited?
Solution:
The proportion of U.S. taxpayers who were audited is:
P (A) = 0.015
Then the proportion of U.S. taxpayers who were not audited will be:
P (A') = 1 - P (A)
= 1 - 0.015
= 0.985
(A)
Compute the odds that the taxpayer will be audited as follows:
Thus, the odds that the taxpayer will be audited is approximately 0.015.
(B)
Compute the odds against these taxpayer being audited as follows:
Thus, the odds against these taxpayer being audited is approximately 65.67.