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Bingel [31]
3 years ago
7

You just purchased two coins at a price of $1,270 each. Because one of the coins is more collectible, you believe that its value

will increase at a rate of 6.1 percent per year, while you believe the second coin will only increase at 5.5 percent per year. If you are correct, how much more will the first coin be worth in 18 years?
Mathematics
1 answer:
Karolina [17]3 years ago
7 0

Answer:

The first coin will be worth $137.16 more than the second coin.

Step-by-step explanation:

Interest formula = i = prt

For coin #1:

p = 1270

r = 0.061

t = 18

i = (1270)(0.061)(18)

The first coin will be worth $2664.46 after 18 years.

For coin #2:

p = 1270

r = 0.055

t = 18

i = (1270)(0.055)(18)

The second coin will be worth $2527.30 after 18 years.

Subtract the value of coin #2 from coin #1.

2664.46 - 2527.30 = 137.16

In conclusion, the first coin will be worth $137.16 more than the second coin after 18 years.

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They each get 1/4.

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Please answer all parts as I know the answers but need the work to go with them. Thus, I believe the above answers are correct.
vampirchik [111]

As the sample size n is less than 30 normal distribution is used.

The values of x are converted into z by using the formula z= x-u/ s and then the z values are found out from the table.

The limits are found by using the formula x±σz or x±sz where s= σ

As the sample size is 10 which is less than 30 the normal distribution is used.

The probability of x< 2.59 is 0.3446

The probability 2.60<X <2.63 is 0.9484

So lower and upper limits are 2.607 and 2.612

Part A

As the sample size is 10 which is less than 30 the normal distribution is used.

Part B

For given value of x= 2.59 z is obtained =0.4

x= 2.59

z= x-u/ s

z= 2.59-2.61/0.05

z= -0.02/0.05

z=- 0.4

P (X<2.59) = P(-0.4 <Z<0) = 0.5 -0.1554= 0.3446

The probability of x< 2.59 is 0.3446

Part C

For two given values of x= 2.60 and 2.63 z is obtained as =0.2 and 0.4

x1= 2.60

z1= x-u/ s

z= 2.60-2.61/0.05

z= -0.01/0.05

z=- 0.2

x2= 2.63

z2= x-u/ s

z= 2.63-2.61/0.05

z= 0.02/0.05

z= 0.4

P (2.60<X<2.63) = P(-0.2 <Z<0.4)

= P(-0.2 <Z<0)+ P(0 <Z<0.4)

=0.793 + 0.1554= 0.9484

The probability 2.60<X <2.63 is 0.9484

Part D"

p= 0.57

From the table z= 0.045

z= x-u/ s

zs= x-u

zs+u = x

x1= 0.045*0.05 +2.61= 2.61225

x2= 2.61- 0.00225= 2.60775

So lower and upper limits are 2.607 and 2.612

For further understanding of probability calculation click

brainly.com/question/25638875

#SPJ1

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