Business Math and Statistics

You deposit $1,000 for 4 years at an interest rate of 2.0%. If the interest is compounded annually, how much money do you have after 4 years?

  1. 👍
  2. 👎
  3. 👁
  1. 1000(1+.02)^4 = 1082.43

    1. 👍
    2. 👎
  2. Ill be concise:60% of people in survey had income greater than 25k, 40% under 25k. Further, same survey, 70% have exactly 2 cars, while 30% have a different number than 2. The probability that the residents own 2 cars IF income is over 25k is 80%.

    what is the probability of a household have exactly 2 cars AND an income UNDER 25k?
    i get the answer 28%. the right answer is 22%.
    I don't know how to incorporate the last 80% chance bit of the setup part. please help

    1. 👍
    2. 👎

Respond to this Question

First Name

Your Response

Similar Questions

  1. Math help! Check my answers ASAP!

    1. Which graph most likely describes the distance a person walks in a 24-hour period? (1 point) a. Graph IV** b. Graph II c. Graph I d. Graph III 2. A car traveling at 25 mi/h accelerates to 48 mi/h over the first 5 seconds. It

  2. Math

    A company invests $15,000.00 in an account that compounds interest annually. After two years, the account is worth $16,099.44. Use the function in which r is the annual interest rate, P is the principal, and A is the amount of

  3. math

    Mr. Flores opened an account with a deposit of $5,000 The account earned annual simple interest. He did not make any additional deposits or withdrawals. At the end of 4 years, the balance of the account was $6,500. What is the

  4. math

    Please someone show me how to work this one out? Suppose Caroline is a cinephile and buys only movie tickets. Caroline deposits $3000 in a bank acct that pays an annual interest rate of 20%. You can assume that this interest rate

  1. Math

    Find how much interest $25,000 earns in 4 years in a certificate of deposit paying 8.5% interest compounded quarterly.

  2. Math

    Asher cashed in a one-year term deposit after only five months had elapsed. In order to do so, he accepted an interest rate penalty—a reduction from the scheduled 5.5% rate of simple interest. If he was paid $145.83 interest on

  3. Finance

    Find the future value of $10,000 invested now after five years if the annual interest rate is 8 percent. a. What would be the future value if the interest rate is a simple interest rate? b. What would be the future value if the

  4. math

    Bill takes a lot of $9,000 and an 8% simple interest rate for 6 years How much interest will Bill pay after 2 years? How much interest will he pay in total for the loan ? $720.00;3,600.00 $1,408.00;4,224.00* $36,000.00;12,000.00

  1. Alg 2

    Suppose you deposit a principal amount of p dollars in a bank account that pays compound interest. If the annual interest rate r (expressed as a decimal) and the bank makes interest payments n times every year, the amount of money

  2. Mathematics and investment

    1. Angelo wants to renovate his house in 3 years. He estimates the cost 300,000. How much must Angelo invest now at 8% compounded quarterly in order to have 300,000 3 years from now. 2. Angelo Ancis want to save 500,000 in 5.5

  3. Math

    Find how much interest $15,000 earns in 4 years in a certificate of deposit paying 8.5% interest compounded quarterly.

  4. FINANCE

    You deposit $2,000 in an account that pays 8% interest compounded semiannually. After 4 years, the interest rate is increased to 8.28% compounded quarterly. What will be the value of the account after 4 more years? (Do not round

You can view more similar questions or ask a new question.