The first 8 on the left in this number has a value of 800.
Answer:
We conclude that the total amount accrued, principal plus interest, from compound interest on an original principal of $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.
Step-by-step explanation:
Given
Principle P = $2500
Interest rate r = 5% = 0.05
Time period t = 8 years
To determine
Accrue Amount A = ?
Using the compound interest equation
where:
A represents the Accrue Amount
P represents the Principal Amount
r represents the interest rate
t represents the time period in years
n represents the number of compounding periods per unit t
Important tip:
- Given that the interest is compounded 6 times each year, therefore, the value of n = 6.
now substituting P = 2500, r = 0.05, t = 8 and n = 6 in the equation
∵ 
$
Therefore, we conclude that the total amount accrued, principal plus interest, from compound interest on an original principal of $2500 at a rate of 5% per year compounded 6 times per year over 8 years is $3723.38.
Do you have a graph or a picture? It would be easier to explain
Answer:
Q6: B Q7: D Q8: C Q9: D Q10: A
Answer:
Step-by-step explanation:
The question says,
A roulette wheel has 38 slots, of which 18 are black, 18 are red,and 2 are green. When the wheel is spun, the ball is equally likely to come to rest in any of the slots. One of the simplest wagers chooses red or black. A bet of $1 on red returns $2 if the ball lands in a red slot. Otherwise, the player loses his dollar. When gamblers bet on red or black, the two green slots belong to the house. Because the probability of winning $2 is 18/38, the mean payoff from a $1 bet is twice 18/38, or 94.7 cents. Explain what the law of large numbers tells us about what will happen if a gambler makes very many betson red.
The law of large numbers tells us that as the gambler makes many bets, they will have an average payoff of which is equivalent to 0.947.
Therefore, if the gambler makes n bets of $1, and as the n grows/increase large, they will have only $0.947*n out of the original $n.
That is as n increases the gamblers will get $0.947 in n places
More generally, as the gambler makes a large number of bets on red, they will lose money.
