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bagirrra123
2 months ago
4

One year ago, Lindsey deposited $250 into a savings account. Her balance is now $253. Two years ago, Jenn deposited $250 into a

savings account. Her balance is now $257.50. Which account has the greater simple interest rate? Explain.
This is due at 2
Mathematics
2 answers:
lawyer [12.5K]2 months ago
6 0
She possesses a higher interest rate. Lindsey’s earnings amounted to $3 over one year, demonstrating her interest rate is 1.2%. In comparison, Jenn accrued $3.75 within the same period, indicating her rate is 1.5%, which surpasses Lindsey's.
Svet_ta [12.7K]2 months ago
5 0
Jenn's account has a higher simple interest rate. In the context of investments, A represents the amount after interest, P is the principal, r indicates the interest rate, and t denotes time. Lindsey's simple interest rate was 1.2% annually, while Jenn's was 1.5% yearly. Thus, Jenn's account yields the greatest simple interest.
You might be interested in
"A sample of 20 randomly chosen water melons was taken from a large population, and their weights were measured. The mean weight
AnnZ [12381]

Answer: (97.98, 112.020)

Step-by-step explanation: We will create a 95% confidence interval for the average weight of melons.

Given the information, we determine that the critical value for the interval needs to be retrieved from a t distribution table due to the sample size being below 30 (specifically, 20), and we are provided with the sample standard deviation (s = 15 lb).

The parameters provided are:

Sample mean = x = 105 lb

Sample standard deviation = s = 15 lb

Sample size = n = 20

To establish the 95% confidence interval, we indicate that the level of significance is 5%.

The formula for the confidence interval is:

u = x + tα/2 × s/√n... for the upper limit

u = x - tα/2 × s/√n... for the lower limit.

tα/2 represents the critical value for the test (which will be determined using the t distribution table).

To derive tα/2, we look for the value based on the degrees of freedom (sample size - 1) against the significance level for a two-tailed test (α/2 = 0.025%) in a t distribution table.

For the upper limit, we calculate:

u = 105 + 2.093×15/√20

u = 105 + 2.093× (3.3541)

u = 105 + 7.020

u = 112.020.

<pfor the="" lower="" limit="" we="" find:="">

u = 105 - 2.093×15/√20

u = 105 - 2.093× (3.3541)

u = 105 - 7.020

u = 97.98

Confidence interval (97.98, 112.020)

</pfor>
6 0
3 months ago
Initially, there were only 86 weeds in the garden. The weeds grew at a rate of 29% each week. The following function represents
AnnZ [12381]

Step-by-step answer:

The base of the exponential function is set at 1.29 for a period of 7 days, which is expressed as

f(x) = 86*(1.29)^x

To determine the daily rate, divide the variable x by 7 (keeping x as the number of weeks), resulting in

f(x) = 86*1.29^(x/7)

Applying the exponent rule, b^(x/a) = b^(x*(1/a)) = (b^(1/a))^x

we can simplify by setting b=1.29, a=7 to arrive at

f(x) = 86*(1.29^(1/7))^x

f(x) = 86*(1.037)^x since evaluating 1.29^(1/7) yields approximately 1.037

Rounding 1.037 to 1.04 gives a (VERY) rough estimate function

f(x) = 86 * (1.04^x)

1.04 is only an approximation because 1.04^7 is expected to return 1.29, it actually results in 1.316; meanwhile, 1.037^7 returns 1.2896, which is much closer to 1.29.

7 0
2 months ago
Read 2 more answers
Five thousand tickets are sold at​ $1 each for a charity raffle. Tickets are to be drawn at random and monetary prizes awarded a
babunello [11817]

Response:

the expected value of this raffle if you purchase 1 ticket = -0.65

Breakdown of the calculation:

Details:

5,000 tickets are sold at​ $1 each for a charitable raffle

Winners will be chosen at random with cash prizes as follows: 1 prize of ​$500​, 3 prizes of ​$300​, 5 prizes of ​$50​, and 20 prizes of​ $5.

Therefore, the value and its respective probability can be calculated as follows:

Value                              Probability

$500 - $1 = $499              1/5000

$300 - $1 = $299              3/5000

$50 - $1 = $49                    5/5000

$5 - $1 = $4                     20/5000

-$1                           1 - 29/5000 = 4971/5000

The expected value of the raffle when buying 1 ticket is computed as follows:

E(x) = \sum x * P(x)

E(x) = (499 * \dfrac{1}{5000} + 299 *\dfrac{3}{5000} + 49 *\dfrac{5}{5000} + 4 * \dfrac{20}{5000} + (-1 * \dfrac{4971}{5000} ))

E(x) = (0.0998 + 0.1794+0.049 + 0.016 + (-0.9942 ))

E(x) = (0.3442 -0.9942 )

\mathbf{E(x) = -0.65}

So, the expected value of this raffle when one ticket is purchased = -0.65

7 0
2 months ago
In Andrew’s Furniture Shop, he builds bookshelves and tables. Each type of furniture takes him about the same time to make. He f
babunello [11817]
A. The order in which you define the variables isn't fixed. For the sake of this discussion, let's define them like this:

x = Number of bookshelves
y = Number of tables

B. Due to the total number of items to produce, we have the following inequality based on those variables.

x + y > 25

Additionally, you can create a second inequality concerning your budget for materials.

20x + 45y < 675

Moreover, you should also add that both values must not be negative, since you can't produce negative tables.

C. By analyzing the constraints and solving the system, you will find that the feasible region contains 4 vertices.

(0,0)
(18, 7)
(0, 15)
(33.75, 0) or (33, 0) if you prefer to round it. 
8 0
2 months ago
Ice Cream Scoops - In shops with lots of ice-cream flavors there are many different flavor combinations, even with only a 2-scoo
PIT_PIT [12445]

Answer:

The universal formula applicable for determining the necessary combinations of n ice cream flavors.

N_n = \frac{n(n+1)}{2}

For 10 flavors of ice cream

N_{10} = \frac{10(10+1)}{2}

N_{10} = 55

Step-by-step explanation:

Let's denote V = Vanilla, C = Chocolate, S = Strawberry, P = Pineapple, B = Berry

For 2 flavors of ice cream:

V, C

{V/V, V/C, C/C}

3 possible combinations

For 3 flavors of ice cream:

V, C, S

{V/V, V/C, V/S, C/S, C/C, S/S}

6 possible combinations

For 4 flavors of ice cream:

V, C, S, P

{V/V, V/C, V/S, V/P, C/S, C/P, S/P, C/C, S/S, P/P}

10 possible combinations

For 5 flavors of ice cream:

V, C, S, P, B

{V/V, V/C, V/S, V/P, V/B, C/S, C/P, C/B, S/P, S/B, P/B, C/C, S/S, P/P, B/B }

15 possible combinations

Thus, we derive a sequence of

3, 6, 10, 15...

This sequence is recognized as the Triangular number series

1 + 2 = 3

1 + 2 + 3 = 6

1 + 2 + 3 + 4 = 10

1 + 2 + 3 + 4 + 5 = 15

The general formula for this sequence is

Utilizing this formula allows us to predict the number of 2-scoop combinations from 10 flavors.

N_n = \frac{n(n+1)}{2}

N_{10} = \frac{10(10+1)}{2}

N_{10} = 55

Consequently, there are 55 varying combinations for a 2-scoop cone when selecting from 10 flavors.

5 0
2 months ago
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