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suter
18 days ago
8

A man was surprised when he found an old bank account statement in his mother’s attic. Money had been left for 30 years in a ban

k account paying simple annual interest. The statement showed that originally $500 had been put into the account. When he called the bank, he found that there is now $1550 in the account! What is the annual interest rate?
Mathematics
2 answers:
PIT_PIT [12.4K]18 days ago
7 0

Response:

x = 0.0384

Detailed explanation:

500(1+x)^(30)=1550

Zina [12.3K]18 days ago
5 0

Response:

7%

Detailed explanation:

You might be interested in
Suppose that 4% of the 2 million high school students who take the SAT each year receive special accommodations because of docum
AnnZ [12381]

Answer:

a. 0.0122

b. 0.294

c. 0.2818

d. 30.671%

e. 2.01 hours

Step-by-step explanation: 

Let X denote the number of students who get special accommodation.

P(X) = 4%

P(X) = 0.04

Let S represent the sample size, which equals 30.

Let Y indicate the chosen numbers within the sample size.

Y follows a Binomial distribution, Bin(30,0.04).

a. The chance that exactly 1 student received special accommodation:

P(Y = 1) = (30,1)

= (0.04)¹ * (1 - 0.04)^(30 - 1)

= 0.04 * 0.96^29

= 0.012244068467946074580191760542164986632531806368667873050624

P(Y=1) = 0.0122 — rounded

b. The probability that at least 1 received special accommodation is calculated as:

This implies P(Y≥1).

Since P(Y=0) + P(Y≥1) = 1, we find that P(Y≥1) = 1 - P(Y=0).

Now calculating P(Y=0):

P(Y=0) = (0.04)° * (1 - 0.04)^(30 - 0)

= 1 * 0.96^30

= 0.293857643230705789924602253011959679180763352848028953214976

= 0.294 — rounded

c.

Determining the probability that at least 2 students received special accommodation:

P(Y≥2) = 1 - P(Y=0) - P(Y=1)

= 0.294 - 0.0122

= 0.2818

d. To find the probability that among the 15 students, the received special accommodation” falls within 2 standard deviations from what we anticipate,

we first compute the standard deviation:

SD = √npq

n = 15

p = 0.04

q = 1 - 0.04 = 0.96

SD = √(15 * 0.04 * 0.96)

SD = 0.758946638440411

SD = 0.759

Average = np = 15 * 0.04 = 0.6.

The range that embodies two standard deviations away from 0.6 is [0, 2.55], meaning we are interested in the probability that 0, 1, or 2 students out of 20 received special accommodation.

P(Y≤2)

P(0) + P(1) + P(2)

=.

P(0) + P(1) = 0.0122 + 0.294.

To find P(2):

P(2) = (0.04)² * (1 - 0.04)^(30 - 2)

P(2) = 0.00051.

Thus,

P(0) + P(1) + P(2) = 0.0122 + 0.294 + 0.00051

= 0.30671.

Therefore, it’s 30.671% likely that 0, 1, or 2 students received accommodations.

e.

The anticipated value from part d) is 0.6.

The expected time is calculated as [.6(4.5) + 19.2(3)]/30 = 2.01 hours.

8 0
1 month ago
Melanie is making lemonade and finds a recipe that calls for 1 part lemon juice, 2 parts sugar, and 8 parts water. She juices 2
Zina [12379]
To make lemonade following the recipe, the amounts required are 12 tablespoons of sugar and 3 cups of water (which equals 48 tablespoons).
3 0
1 month ago
Read 2 more answers
“The perimeter P of a triangle is equal to the sum of the lengths of sides a,b, and c”
AnnZ [12381]

Answer:

1. Calculate the sum of "a", "b" and "c".

2. The perimeter equation is: P=a+b+c

Step-by-step explanation:

In this case, P denotes the triangle's perimeter while a, b, and c are the triangle's sides.

The definition states that the sum results from an addition operation. Thus, the statement "The perimeter P of a triangle equals the total of sides a, b, and c" means that the perimeter is determined by aggregating the lengths of the triangle's sides.

Consequently, you can express this in the following equation:

P=a+b+c

5 0
1 month ago
A college has an acceptance rate of 17%. If 3,240 students apply, about
AnnZ [12381]

Answer:

550

Step-by-step explanation:

We know that 17% of the applicants (3,240) will receive acceptance.

0.17 * 3,240 = 550.8

Thus, 550 students will gain acceptance

we must round down since only 17% can be accepted, and having 0.8 of a person is not feasible

hope this helps

6 0
1 month ago
At a football game, 73% of people attending were supporting the home team, while 27% were supporting the visiting team. If 2628
Zina [12379]
Calculating gives us 73 - 27 = 46

Next, 46 / 100 × 2628 = 1208

Adding together gives 2628 + 1208 = 3836

8 0
9 days ago
Read 2 more answers
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