At age twenty six , Dick shoemaker desposited 2,000 into an IRA , where it earns 3% compounded monthly . How many years will the investment be worth $6,000.

Q: A couple invests $1000 in a trust fund each year on their childs birthday. They started the fund on…

A: Given: A couple invests $1000 in a trust fund each year on their Childs birthdayp0. The fund pays…

Q: Ivanna wants to save money to buy a motorcycle. She invests in an ordinary annuity that earns 7.8%…

A: Given P=6000 n=5 m=4 r=0.078

Q: Kellee deposits​ $5000 in a savings account with an interest rate of​ 0.9% compounded monthly. If…

A: From the given information, it is observed that Kellee deposited $5000 that is, P = $5000 with the…

Q: Jenny invests $9,000 at 8% compounded annually in an annuity. How long until Jenny has $18,000

A:

Q: George puts his bonus of $4,200 into an account earning 7.5% compounded monthly.  How long will it…

A: Given: Initial amount = 4200 rate of interest = 7.5 monthly Final amount  = 5000 Now, we need to…

Q: Berno deposits $30,000 into an account paying 3.25% annual interest, compounded quarterly. How much…

A:

Q: Rachel deposits $12,000 into a fixed asset account that earns 6% compounded quarterly. What is…

A: Formula:      where FV = Future Value          PV = The principal amount (the initial amount of…

Q: Karen wishes to have $17,730 cash for a new car 5 years from now.  How much should be placed in an…

A: Given: Karen wants $17,730 after 5 years. The interest is compounded weekly with a rate of 6%. To…

Q: Tom deposits $25,000 in a savings deposit paying 5%, compounded monthly.  What amount would he have…

A: Given that ,principal amount that investedP=$25,000the rate of interest r=5%=5100=0.05time in…

Q: Jackson is trying to determine how to invest $10,000 that he inherited from his uncle Eddie.  He has…

A:

Q: Springfield florist plans to replace it's delivery vehicle in three years . If they set aside $16000…

A:

Q: Company needs $820,000 at the end of five years to open a new office.  The company decides to…

A: To determine the money that needed to be invested per period in the fund to obtain the money to open…

Q: John deposits $2,000 into a CD that guarantees a 5.8% annual interest rate, compounded yearly. How…

A: Initial deposite= P= 2000 Final amount=A=? Time=t= 4 years  Interest rate = 5.8%=0.058  Number of…

Q: s a savings plan for college, when their son Bob was born, the Wilburs deposited $10,000 in an…

A: This is a basic question testing the application of compound interest. We just have to plug-in the…

Q: A 55-year-old man deposits $50,000 to fund an annuity with an insurance company. The money will be…

A:

Q: Juan invested $5,600 at 5.75% compounded quarterly for 7.5 years. How much will be in his account at…

A: See calculation below

Contingency Table

A contingency table can be defined as the visual representation of the relationship between two or more categorical variables that can be evaluated and registered. It is a categorical version of the scatterplot, which is used to investigate the linear relationship between two variables. A contingency table is indeed a type of frequency distribution table that displays two variables at the same time.

Binomial Distribution

Binomial is an algebraic expression of the sum or the difference of two terms. Before knowing about binomial distribution, we must know about the binomial theorem.