Lindsey bought a picnic basket originally priced at $40 but on sale for 50% off. After 10% sales tax, what was the total cost?
2 answers:
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Answer:
a) 14.46%
b) 0.00%
c) 1.54%
Step-by-step explanation:
According to the survey, 10% of Americans are afraid to fly.
This means and
.
If 1100 Americans are sampled, then the sample size is .
The mean of the distribution is .
This means
The standard deviation is
We substitute the values to get:
a) We want to find the probability that 121 or more Americans in the survey are afraid to fly.
We first apply the continuity correction factor to get:
We now convert to Z-scores to get:
From the standard normal distribution table P(z>1.06)=0.1446
As a percentage, the probability is 14.46%
b) We want to find the probability that 165 or more Americans in the survey are afraid to fly.
We apply the CCF to get:
We convert to z-scores:
From the normal distribution, P(z>164.5)=0
c) First, 8% of 1100 is 88.
We want to find the probability that 88 or less Americans in the survey are afraid to fly.
We apply the CCF to get:
We convert to z-scores:
From the normal distribution, P(z>\:-2.16)=0.0154
As a percentage, we get 1.54%
We have been given that Darren invests $4,500 into an account that earns 5% annual interests. We are asked to find the amount in his account after 10 years, if the interest rate is compounded annually, quarterly, monthly, or daily.
We will use compound interest formula to solve our given problem.
, where,
A = Final amount,
P = Principal amount,
r = Annual interest rate in decimal form,
n = Number of times interest is compounded per year,
t = Time in years.
When compounded annually, :
When compounded quarterly, :
When compounded monthly, :
When compounded daily, :
Since amount earned will be maximum, when interest is compounded daily, therefore, Darren should use compounded daily interest rate.