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kumpel [21]
3 years ago
6

What is the total amount that First Consumer Bank will receive after lending Jane $7,000 for three years at an interest rate of

5 percent, compounded annually?
Mathematics
1 answer:
nlexa [21]3 years ago
7 0
<span>In 3 years, you will have $8,103.38

Formula:
</span>

<span>A = P (1 + r/n)<span> ^(nt)</span></span>

Where:

A = the future value of the investment/loan, including interest
P = the principal investment amount (the initial deposit or loan amount)
r = the annual interest rate (decimal)
n = the number of times that interest is compounded per year
t = the number of years the money is invested or borrowed for

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Your answer would be 55
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Which statement is most likely to be true? the ages of the mackerels are the most dispersed from the team’s mean. the ages of th
MakcuM [25]

The ages of the Stars are the most dispersed from the team’s mean

<h3> Which statement is right?</h3>

Standard deviation is one way to measure the average of the data by determining the spread of the data. It actually explains how much the observation points are further away from the mean of the data.

Higher the standard deviation, higher the spread of the data and higher is the uncertainty. This means that the team with the highest standard deviation will have the most dispersion.

In this case, the standard deviation of 4.1 is the largest number, therefore, the statement "The ages of the Stars are the most dispersed from the team’s mean." is true

To know more about standard deviation follow

brainly.com/question/475676

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2 years ago
-12°F+ -23°F please don't let me down
coldgirl [10]

Plus a negative value becomes subtraction:

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3 0
3 years ago
George is considering two different investment options. The first option offers 7.4% per year simple interest on the
jok3333 [9.3K]

Answer:

Part A: The value of the simple interest investment at the end of three years is $12,220

Part B: The value of the compounded quarterly interest investment at the end of three years is $12,134.08

Part C: The simple interest investment is better over the first three years

Part D: I advise George to invest his money in the compounded interest investment if he will keep the money for a long time

Step-by-step explanation:

Part A:

A = P + P r t, where

  • A represents the value of the investment
  • P represents the original amount
  • r represents the  rate in decimal
  • t represents the time in years

∵ George deposits $10,000

∴ P = 10,000

∵ First option offers 7.4% per year simple interest

∴ r = 7.4% = 7.4 ÷ 100 = 0.074

∵ He may not withdraw any of  the money for three years after

   the initial deposit

∴ t = 3

- Substitute all of these values in the formula above

∴ A = 10,000 + 10,000(0.074)(3)

∴ A = 10,000 + 2,220

∴ A = 12,220

The value of the simple interest investment at the end of three years is $12,220

Part B:

A=P(1+\frac{r}{n})^{nt}, where

  • A represents the value of the investment
  • P represents the original amount
  • r represents the  rate in decimal
  • n is a number of periods of a year
  • t represents the time in years

∵ George deposits $10,000

∴ P = 10,000

∵ The second option offers a 6.5% interest rate compounded quarterly

∴ r = 6.5% = 6.5 ÷ 100 = 0.065

∴ n = 4 ⇒ quarterly

∵ He may not withdraw any of  the money for three years after

   the initial deposit

∴ t = 3

- Substitute all of these values in the formula above

∴ A=10,000(1+\frac{0.065}{4})^{(4)(3)}

∴ A=10,000(1.01625)^{12}

∴ A = 12,134.08

The value of the compounded quarterly interest investment at the end of three years is $12,134.08

Part C:

∵ 12,220 > 12,134.08

∴ The simplest interest investment is better than the compounded

    interest investment at the end of three years

The simple interest investment is better over the first three years

Part D:

I advise George to invest his money in the compounded interest investment if he will keep the money for a long time

Look to the attached graph below

  • The red line represents the simple interest investment
  • The blue curve represents the compounded interest investment
  • (Each 1 unit in the vertical axis represents $1000)
  • After 0 years and before 4.179 years the red line is over the blue curve, that means the simple interest is better because it gives more money than the compounded interest
  • After that the blue curve is over the red line that means the compounded quarterly is better because it gives more money than the simple interest

4 0
3 years ago
The average number of mosquitoes in a stagnant pond is 80 per square meter with a standard deviation of 12. If 36 square meters
svp [43]

Answer:

a) 18.4%

Step-by-step explanation:

Assuming a normal distribution, the z-score (z) for the probability of the average of the mosquitoes count being 'X'  is given by:

z(X)=\frac{X-\mu }{\frac{\sigma}{\sqrt{n}}}

Where 'μ' is the distribution mean, 'σ' is the standard deviation and 'n' is the number of square meters chosen.

For X = 81.8 and n=36:

z(X)=\frac{81.8 - 80}{\frac{12}{\sqrt{36}}}\\z(X)= 0.9

A z-score of 0.9 is equivalent to the 81.59 th percentile in a normal distribution.

Therefore, the probability (P) that the average of those counts is more than 81.8 mosquitoes per square meter is:

P= 100\% - 81.59\%\\P=18.41\%

8 0
3 years ago
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