The National Bank of Spain is reviewing its services charges and interest-paying policies on savings accounts. The average monthly balance on personal savings accounts is $500, with a standard deviation of $100. In addition, the monthly balances are normally distributed. 1. What is the probability that a personal savings account has a monthly balance in excess of $650? 2. What is the probability that a personal savings account has a monthly balance below $400? 3. What is the probability that a personal savings account has a monthly balance between $600 and $700? 4. What is the probability that a personal savings account has a monthly balance no more than $600?

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The National Bank of Spain is reviewing its services charges and interest-paying policies on
savings accounts. The average monthly balance on personal savings accounts is $500, with a
standard deviation of $100. In addition, the monthly balances are normally distributed.
1. What is the probability that a personal savings account has a monthly balance in
excess of $650?
2.
What is the probability that a personal savings account has a monthly balance below
$400?
3. What is the probability that a personal savings account has a monthly balance
between $600 and $700?
4. What is the probability that a personal savings account has a monthly balance no
more than $600?
Transcribed Image Text:The National Bank of Spain is reviewing its services charges and interest-paying policies on savings accounts. The average monthly balance on personal savings accounts is $500, with a standard deviation of $100. In addition, the monthly balances are normally distributed. 1. What is the probability that a personal savings account has a monthly balance in excess of $650? 2. What is the probability that a personal savings account has a monthly balance below $400? 3. What is the probability that a personal savings account has a monthly balance between $600 and $700? 4. What is the probability that a personal savings account has a monthly balance no more than $600?
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