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d1i1m1o1n [39]
2 years ago
10

Scott invests $1000 at a bank that offers 6% compounded annually.Write an equation to model the growth of the investment

Mathematics
1 answer:
gladu [14]2 years ago
7 0

Answer:

Step-by-step explanation:

Using the formula for the growth of investment:

           .....[1]

where,

A is the amount after t year

P is the Principal

r is the growth rate in decimal

As per the statement:

Scott invests $1000 at a bank that offers 6% compounded annually.

⇒P = $1000 and r = 6% = 0.06

substitute these in [1] we get;

⇒

Therefore, an equation to model the growth of the investment is,

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Read 2 more answers
Compute the mean and variance of the following probability distribution. (Round your answers to 2 decimal places.) x P(x) 6 0.10
irinina [24]

Answer:

Mean = 16.5

Variance = 35.55

Step-by-step explanation:

 <u>          x      P(x)        x. P(x)     x²            x². P(x)</u>

          6      0.10          0.6      36            3.6

         12     0.35          4.2       144           50.4

        18     0.25           4.5       324            81

<u>         24     0.30          7.2        576         172.8</u>

                  ∑x P (x)  16.5         ∑x² P (x) 307.8

The expected value of x E[X] gives the mean where X is the discrete random variable with the given probabilities.

Mean is given by  E(X)=  ∑x P (x) =  16.5

Similarly the variance is also calculated using the expected value of X and X².

Variance is given= E(X)²-  [E(X)]²= 307.8- (16.5)²=  307.8-272.25 = 35.55

6 0
3 years ago
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