A person who does not understand probability theory wastes $10 per week on lottery tickets, averaging $520 per year.  Instead of buying tickets, if this person deposits the $520 at the end of each year in an annuity paying 6% compounded annually, How much would he or she have after 20 years? (round to the nearest dollar) Find the interest.  (round to the nearest dollar)

Q: Adam wishes to have ​$16,000 available in 22 years to purchase a new car for his son as a gift for…

A:

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Q: What sum of money will be required to discharge a loan of P7,800 on April 1, 2022, if the loan was…

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Q: James deposits a fixed monthly amount into an annuity account for his child's college fund. He…

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Q: Nita invested in a simple, ordinary annuity that earns 4.1% interest, compounded semiannually. She…

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A: Solution :-

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Q: At the beginning of year 1, Chantelle deposited $25,000.00 in an investment account that pays 5.00%…

A: Option (c) 103200.46 is correct.

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Q: Ann and Tom want to establish a fund for their grandson's college education. What lump sum must they…

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Q: As a senior high school student, Jose decided to start making investments. He is going to deposit…

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A:

Q: To offer scholarships to children of employees, a company invests $10,000 at the end of every three…

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A: Please see the below picture for detailed solution.

Q: An investment of P50,000 is made at the beginning of each month for 5 years. How much will the…

A: Topic:- future value

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Q: Jake Werkheiser decides to invest $9000 in an IRA at the end of each year for the next 8 years. If…

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Q: Jennifer's pension plan is an annuity with a guaranteed return of 6% per year (compounded monthly).…

A: Given query is to find the amount received per month after retirement.

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.