Answer:
$6,020,826.711
Step-by-step explanation:
The computation of the present value of that year salary is shown below:
As we know that
Present value in case of continuous compounding, the formula is
where,
The Guaranteed amount is $9,000,000
The Time period is 6 years
And, the interest rate is 6.7%
Now placing these values
So, the present value is
= $6,020,826.711
Answer:
4) 7.9%
Step-by-step explanation:
Given:
% of milk chocolate = 70%
% of white chocolate = 30%
Total number of chocolate = 20
Number of milk chocolate:
Number of white chocolate:
From the calculations, we now know there are 14 milk chocolates and 6 white chocolates.
2 white chocolates are picked at random without replacement.
Probability first chocolate picked was white:
Probability second chocolate picked was white:
To find probability that both of them are white chocolates, multiply probability of the first and second.
0.3 * 0.2632 = 0.07896
≈ 0.079
Convert to percentage by multiplying by 100.
0.079 * 100 = 7.9%
The probability that they are both
white chocolate is 7.9%