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NEW QUESTION: 1
What is the final balance of a bank account after two years if the starting balance is $1,000 at an annual rate of 5%, using simple interest? Assume no other money was withdrawn or deposited.
This problem can be solved by using the simple interest formula: interest = principal × rate × time.
Remember to change the interest rate to a decimal before using it in the formula. I = (1,000) (0.05) (2)
$100. Since $100 was made in interest, the total in the bank account is $1,000 + $100 = $1,100.
NEW QUESTION: 2
Given the following probabilities
1 or more defects = .70
2 or more defects = .35
3 or more defects = .15
4 or more defects = .03
What is the probability of 2 or fewer defects?