The future value of $1,000 invested at 8% compounded semiannually for five years is
<u>Solution:</u>
----------- equation 1
A = future value
P= principal amount
i = interest rate
n = number of times money is compounded
P = 1000
i = 8 %
(Compounding period for semi annually = 2)
Dividing “i” by compounding period
Solving for future value using equation 1
Complete Question
In your biology class, your final grade is based on several things: a lab score, scores on two major tests, and your score on the final exam. There are 100 points available for each score. However, the lab score is worth 25% of your total grade, each major test is worth 22:5%, and the final exam is worth 30%. Compute the weighted average for the following scores: 92 on the lab, 81 on the first major test, 93 on the second major test, and 85 on the final exam. (Enter your answer to one decimal place)
Answer:
The weighted average is
Step-by-step explanation:
From the question we are told that
The worth of the lab score is 25% of total grade
The worth of each major test is 22.5% of total grade
The worth of final exam is 30% of total grade
The score on lab is 92
The score on first major test 81
The score on second major test 93
The score on final exam is 85
Generally the weighted score is mathematically represented as
=>
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