Find the balance in the account with a principal of $4,100 earning 5% compounded monthly after 24 years.

Mathematics

1 answer:

borishaifa [10]3 years ago

5 0

Answer:

The formula is

A=p (1+r/k)^kt

A future value?

P present value 4100

R interest rate 0.04

K compounded monthly 12

T time 10 years

A=4,100×(1+0.04÷12)^(12×10)

A=6,112.41. ..answer

Step-by-step explanation:

You might be interested in

Analogies: Write the letter indicating the pair of words that best expresses a relationship[ similar to that of the original pai

allochka39001 [22]

The answer to this is d

8 0

3 years ago

A box in a supply room contains 24 compact fluorescent lightbulbs, of which 8 are rated 13-watt, 9 are rated 18-watt, and 7 are

Marrrta [24]

Answer:

a) There is 17.64% probability that exactly two of the selected bulbs are rated 23-watt.

b) There is a 8.65% probability that all three of the bulbs have the same rating.

c) There is a 12.45% probability that one bulb of each type is selected.

Step-by-step explanation:

There are 24 compact fluorescent lightbulbs in the box, of which:

8 are rated 13-watt

9 are rated 18-watt

7 are rated 23-watt

(a) What is the probability that exactly two of the selected bulbs are rated 23-watt?

There are 7 rated 23-watt among 23. There are no replacements(so the denominators in the multiplication decrease). Then can be chosen in different orders, so we have to permutate.

It is a permutation of 3(bulbs selected) with 2(23-watt) and 1(13 or 18 watt) repetitions. So

$P = p^{3}_{2,1}*\frac{7}{24}*\frac{6}{23}*\frac{17}{22} = \frac{3!}{2!1!}*\frac{7}{24}*\frac{6}{23}*\frac{17}{22} = 3*\frac{7}{24}*\frac{6}{23}*\frac{17}{22} = 0.1764$