Isabella deposited $2,000 in an account that pays 5% simple annual interest. After one year, how much interest in dollars and ce
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Answer:
Step-by-step explanation:
Given a binomial experiment with n trials and probability of success p,
Since each term of the summation is multiplied by x, the value of the term corresponding to x = 0 will be 0. Therefore the expected value becomes:
Now,
Substituting,
Factoring out the n and one p from the above expression:
Representing k=x-1 in the above gives us:
This can then be written by the Binomial Formula as: