Cate purchases $1600 worth of stock and her broker estimates it will increase in value by 4.2% each year. After about how many years will the value of Cate' stock be about $2000? after 6 year after 20 years after 2 years after 3 years O000
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.
Given:
Principal amount=$1600
annual interest rate = 4.2%
= 0.042
Final amount = $2000
To determine:
time (t)
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