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3 years ago

You invested $52.400 at 6% compounded annually for 5 years. What is your total return on this investment

Mathematics

1 answer:

Tems11 [23]3 years ago

5 0

Answer:

$15,720

General Formulas and Concepts:

Pre-Algebra

Order of Operations: BPEMDAS

Brackets
Parenthesis
Exponents
Multiplication
Division
Addition
Subtraction

Left to Right

Algebra I

Simple Interest Rate Formula: A = P(1 + rt)

P is principle amount
r is rate
t is time

Step-by-step explanation:

Step 1: Define

Identify variables.

P = $52,400

r = 6%

t = 5

Step 2: Find Current Investment Value

Substitute in variables [Simple Interest Rate Formula]: A = 52,400(1 + 0.06 · 5)
[Order of Operations] Evaluate: A = $68,120

Step 3: Find Total Return

Set up: R = A - P
Substitute in variables: R = 68,120 - 52,400
[Order of Operations] Evaluate: R = $15,720

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$P(X=0)=(10C10)(0.15)^{0} (1-0.15)^{10-0}=0.1969$

$P(X \geq 1)= 1-P(X$

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Step-by-step explanation:

Previous concepts

A Bernoulli trial is "a random experiment with exactly two possible outcomes, "success" and "failure", in which the probability of success is the same every time the experiment is conducted". And this experiment is a particular case of the binomial experiment.

The binomial distribution is a "DISCRETE probability distribution that summarizes the probability that a value will take one of two independent values under a given set of parameters. The assumptions for the binomial distribution are that there is only one outcome for each trial, each trial has the same probability of success, and each trial is mutually exclusive, or independent of each other".

The probability mass function for the Binomial distribution is given as:

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The complement rule is a theorem that provides a connection between the probability of an event and the probability of the complement of the event. Lat A the event of interest and A' the complement. The rule is defined by: $P(A)+P(A') =1$

Solution to the problem

Let X the random variable of interest, on this case we now that:

$X \sim Binom(n=10, p=0.15)$

what is the probability that no errors are made?

For this case means that all the questions were correct so we want this probability:

$P(X=0)=(10C10)(0.15)^{0} (1-0.15)^{10-0}=0.1969$

what is the probability that at least one error made?

For this case we want this probability:

$P(X \geq 1)$

And we can use the complement rule:

$P(X \geq 1)= 1-P(X$

If there are n questions and the probability of a marking error is p rather than 0.15, give expressions for the probabilities of no errors and at least one error

$P(X=0)=(nCn)(p)^{0} (1-p)^{n-0}=(1-p)^n$

$P(X \geq 1)= 1-P(X$

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