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Two students were talking at lunch and one indicated that there is a
120%
Chance of rain tomorrow. Is this a valid probability?
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- T19 Two students are registered for the same class and attend independently of each other, student A 90% of the time and student B 80% of the time. The teacher remembers that on a given day at least one of them is in class. What is the probability that student A was in class that day? (Round your answer to three decimal places.)Today, you turn 21. Your birthday wish is that you will be a millionaire by your 40th birthday. In an attempt to reach this goal, you decide to save $20 a day, every day until you turn 40. You open an investment account and deposit your first $20 today. What rate of return must you earn to achieve your goal?Rob has just received a check for $31.000. This is a return from an investment that he made 19 years ago. He was told that the return was the equivalent of 11% per year. How much was his original investment? $3,901.19. $4,055.52. O $4,268.01. O $4,006.25. Question 4 Jason received a check for $50,000 today. This was from an investment made 10 years ago. The investment earned 10% compounded quarterly. How much was his original investment? $18,621.53. O $13,795.06. O $10,101.90. C$24,900.97. Question 5 Tony saved enough money to place $125,500 in an investment generating 9.5% compounded monthly. He wants to collect a monthly income of $1,350, at the beginning of each month, for as long as the money lasts. How many months will Tony have this income coming to him? O 161 166 170
- You are planning on having your first child next month and your parents have told you that they are going to open an account with $3,000 on the day your child is born. The money is to be used for college. You plan to also put $1,500 of your own money into the same account on the day your child is born, and then another $1,500 into the account each year on your child's birthday, through his/her 18th birthday. If the account averages an 8% annual return, what will the account balance be on your child's 18th birthday? Please use appropriate excel formula and show how you arrived at your answer.Studies concluded that college graduation is a very good investment. Suppose a college graduate makes 75 percent more money per hour than a graduate from high school. If a High School graduate's lifetime earnings average $1,200,000, what is the expected value of college graduation?Bozo the clown decides to start saving money. So, every month he deposits $200 into an account which pays 4% monthly. If Bozo’s first deposit is on October 1, 2023, then how much is in the account immediately after his deposit on November 1, 2031?
- Am. 111.James Smith is a financial adviser at a reputable financial institution in Jamaica. He was the keynote speaker on financial management at a recent conference and was asked questions on the time value of money. James is asking you to provide the answers to the following questions asked by the attendees at the conference. Sandra is currently saving $1,250 each month at 12% per annum. How much money will be in her account at the end of 5 years? 2. How much money should Anny invest today, so that she will have $10,500 in her bank account in four years’ time, assuming that the interest rate is 5% compounded annually? 3. A typical credit card agreement quotes an interest rate of 15% per annum. Monthly payments are required. Calculate the actual interest rate that will be paid on such a credit card (i.e. EAR)?Divide your class into groups of three to four persons and spend 10 minutes on the following situation. Report and discuss your results with your classmates. A startup company will require capital investment of $350,000 in 2018 and another $340,000 in 2019. Revenue in 2018 is estimated to be $50,000 and $60,000 in 2019. After 2019, the revenue is expected to be $175,000 per year for a total of four years. After four years, the firmwill be sold for $1,000,000.What is the simple payback period for this business venture? Draw a cash-flow diagram.
- An educational researcher decided to predict the college GPA of entering students based on their high school GPA and the number of books they have read in the past year. Interpret the residual for a student with a College GPA equal to 3.00, a high school (HS) GPA equal to 2.87 and who has read 16 books in the past year. College GPA = 1.07 + 0.178(HS) GPA+1.05 books a) The student performed better than expected. b) The student performed exactly as expected. c) The student performed worse than expected. d) Cannot be determined from the given information.Margaret is planning to invest up to $22,000 in certificates of deposit at City Bank and People's Bank. She wants to invest at least $2000 but no more than $14000 at City Bank. The interest is 6% at City Bank and 7% at People's Bank. This is simple interest for one year. How much should she invest in each bank to maximize her income? What is the maximum income? yAn electrician is 27 years old and starting a 401k. The employee plans to invest $350 per month with an expected interest rate of 3.5%, compounded monthly. After 30 years of working, the employee wants to have $200,000 in the retirement account. What is the difference between the actual balance and the employee's goal?A spreadsheet was used to calculate the correct answer. Your answer may vary slightly depending on the technology used. The actual balance is $29,340.64 higher than the goal. The actual balance is $29,340.64 lower than the goal. The actual balance is $22,394.46 higher than the goal. The actual balance is $22,394.46 lower than the goal.
