28. Marta Sanchez purchased a sweater for $15.67, a pair of socks for $2.13, and a bracelet for $6.78. For all
1 answer:
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Assume a binomial distribution. Then the mean of the distribution is , where
is the number of people taken in a sample and
is the probability of the mutation occurring in any given person, and the standard deviation is
. Then in this case, the standard deviation is
.
Answer:
$1,701.64
Step-by-step explanation:
(see attached for reference)
recall that for compound interest, the following formula applies:
A = P [1 + (r/n) ] ^ (nt), where
A = final amount (we are asked to find this)
P = Principal amount = $1,200
r = interest rate = 5% = 0.05
t = 7 years
n = 12
Substituting these into the equation,
A = 1200 [1 + (0.05/12) ] ^ [(12)(7)]
A = $1,701.64
