Sumaya is considering investing $8500 into the bank. Bank A offers 2.25% interest rate compounded semiannually. Bank B offers 1.
1 answer:
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Answer:
P(X = 12) = 0.0064.
Step-by-step explanation:
Binomial probability distribution
The binomial probability is the probability of exactly x successes on n repeated trials, and X can only have two outcomes.
In which is the number of different combinations of x objects from a set of n elements, given by the following formula.
And p is the probability of X happening.
In this problem we have that:
We want P(X = 12). So
P(X = 12) = 0.0064.