Suppose that $1,000 is invested at 9% interest compounded monthly. Use the formula A = P 1 + r n nt . (a) How long (to the nearest month) before the value is $1,250? years, months (b) How long (to the nearest month) before the money doubles? years, months (c) What is the interest rate (compounded monthly and rounded to the nearest percent) if the money doubles in 5 years? %
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.
Suppose that $1,000 is invested at 9% interest compounded monthly. Use the formula
| r |
| n |
| nt | |
years, months
(b) How long (to the nearest month) before the money doubles?
years, months
(c) What is the interest rate (compounded monthly and rounded to the nearest percent) if the money doubles in 5 years?
%
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