Answer: 64 years
Step-by-step explanation:
Let assume the dealer sold the bottle now for $P, then invested that money at 5% interest. The return would be:
R1 = P(1.05)^t,
This means that after t years, the dealer would have the total amount of:
$P×1.05^t.
If the dealer prefer to wait for t years from now to sell the bottle of wine, then he will get the return of:
R2 = $P(1 + 20).
The value of t which will make both returns equal, will be;
R1 = R2.
P×1.05^t = P(1+20)
P will cancel out
1.05^t = 21
Log both sides
Log1.05^t = Log21
tLog1.05 = Log21
t = Log21/Log1.05
t = 64 years
The best time to sell the wine is therefore 64years from now.
Answer:
P-value = 0.0455
Step-by-step explanation:
In this question, we are concerned with calculating the P- value in a test.
Mathematically we know that;
P-value = 2 * P(Z > |z|)
Please check attachment for complete solution and by step explanation
Answer:
a) 2/42
b)16/42
Step-by-step explanation:
a) 2/7 x 1/6 = 2/42
b) (1,2) (1,3) (2,3)
P(1,2) = 2/7 x 3/6 = 6/42
P(1,3) = 2/7 x 2/6 = 4/42
P(2,3) = 3/7 x 2/6 = 6/42
Add all = 6/42 + 4/42 + 6/42 = 16/42
The original price of the ring is <span>£</span>1400
Answer:
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