To calculate interest over time, you need to use the compound interest formula because monthly deposits are being made. However, without more information on how frequently the interest was compounded, we can't find the exact total interest earned from a retirement plan with a 2.5% rate over 42 years with $520 monthly deposits.
The question asks how much interest was gained from investing in a retirement plan with a rate of 2.5% over 42 years. The total monthly deposits were $520. To calculate this, we need to use the simple interest formula which is I=PRT, where 'I' is the interest, 'P' is the principal amount (the initial investment), 'R' is the rate of interest, and 'T' is the period of time.
However, in this case, because the deposits were made monthly, this is not a simple interest problem but a compound interest problem. In such cases, the formula to calculate compound interest (which includes the initial investment amount and the interest earned) is A = P (1 + r/n) ^ nt, where:
As we don't have enough information to conclude the precise amount (e.g., whether the interest was compounded annually, quarterly, monthly, or daily), we can't calculate the exact value of the interest earned.
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Answer:
Step-by-step explanation:
Nope, it is not reasonable because you a decimal number you only use the first Five numbers the others you have do do this Five or more raise the score Four or less let it rest.^-^
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Answer with explanation:
The Curve given here is a probability density curve for a continuous random variable.
Area under the entire region of the curve = 1
Using the Standard normal table to obtain area occupied when Z values are given
Area of the normal curve, when ,Z =0.88, is =0.8106
Area occupied by normal curve ,when Z= -1.26, is =0.1038
So, Area of shaded Region
Option D:→ 0.7068
I used one of the statistical functions on my trusty TI-83 Plus calculator:
normcdf(-1.26, 0.88) = 0.707
Note that this is, as expected, between 0 and 1.