Begin by computing the <span>monthly interest rate like this:
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<span>Each month, we have to substract from $463 the monthly rate and the payment of 5%, which result in the following formula:
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So, after three months, it ill remains $381.5 in </span><span>Bridgette account. </span>
Given that μ=0, and σ=1, P(z>c)=0.1093
thus
P(z<c)=1-0.1093=0.8907
hence the value of c will be:
z-score=(c-μ)/σ
thus
1.23=(c-0)/1
c=1.23
Anwser: C
X must be greater or equal to 3