Answer:
Option c. 18 withdrawals is correct
Step-by-step explanation:
Gareth has to invest = $2,000
His local bank gives 2.2% annual interest and gives him the ability to make ATM withdrawals without any charges.
In an online savings gives 4.85% annual interest, but charges $3 every time he makes an ATM withdrawal.
Let us find the amount of interest earned from the local bank.
The amount of interest earned from Local Bank = 2.2% of 2000
=
× 2000
= 0.022 × 2000 = $44
The amount of interest earned from online savings = 4.85% of 2000
=
× 2000
= 0.0485 × 2000 = $97
As it is given that savings account has no ATM withdrawal charges but online savings account charge $3.00 per withdrawal.
so we need to make x withdrawals from both accounts such that:
97 - 3x = 44
Let us solve for x.
Upon subtracting 97 from both sides of or equation we will get,
97 - 97 - 3x = 44 - 97
3x = -53

x = 17.666 rounded to 18
Therefore, Gareth must make 18 ATM withdrawals every year for the local savings account to be a better deal than the online savings account.
Answer:
The expected number of coupon is 
Step-by-step explanation:
From the question we are told that
The probability that a $10 coupons delivered by mail will be redeemed is p = 0.16
The sample size is n = 10
Generally the expected number of coupons that will be redeemed is mathematically represented as

=> 
=> 
Answer:
There is a correlation between age and length of stay. There may or may not be causation. Further studies would have to be done to determine this.
Step-by-step explanation:
The answer was checked
We need to find the principal amount on an interest rate of 13% where the end of year payment is $5043.71.
The original amount is
.
i = Interest rate = 13%
n = Compounding period = 4 years
E = End of year payment = $5043.71
The required formula is
![P=\dfrac{E[1-(1+i)^{-n}]}{i}\\\Rightarrow P=\dfrac{5043.71[1-(1+0.13)^{-4}]}{0.13}\\\Rightarrow P=\$15002.37](https://tex.z-dn.net/?f=P%3D%5Cdfrac%7BE%5B1-%281%2Bi%29%5E%7B-n%7D%5D%7D%7Bi%7D%5C%5C%5CRightarrow%20P%3D%5Cdfrac%7B5043.71%5B1-%281%2B0.13%29%5E%7B-4%7D%5D%7D%7B0.13%7D%5C%5C%5CRightarrow%20P%3D%5C%2415002.37)
The original principal amount was
.
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