STATS

Question 1

How many times out of 12000 attempts would a person roll all the same numbers using 5 dice

Answer 1

time=a=1200

1200/(6⁴)

a/c^(b-1)

Question 2

at the end of twelve months Terry deposited $100 in a savings account that pays 6% anual interest compounde monthly. Compute the balance in Terry’s account immediately after the twelfth payment .

Answer 2

F=100 (F/A)^0.5₁₂=1234

Question 3

How many years are required for an amount of money to triple if it is invested at 4% interest rate?

Answer 3

3P=P(F/P)⁴_n*(F/P)⁴_n

(1.04)ⁿ=3

n=28

Question 4

Twenty-one equal end-of-year deposits are made into savings account tht pays 4% interest. Compute the amount of each deposit that will permit withdrawls of $10,000 at the ends of the eighteenth through twenty-first years, leaving the account empty.

Answer 4

0=X(F/A)⁴₂₁-10,000(F/A)⁴₄

solve X

X=1328

Question 5

profits generated by Excelsys Inc. were $10,000 for the first year and increased by $1000 each year. If the profits for five yr. of operation were invested at an 8% rate of return, how much money had accumulated at the end of the fifth year?

Answer 5

F=10,000 (F/A)⁸₅+1000(F/A)⁸₅(A/G)⁸₅

Question 6

Development costs of a new product are estimated to be $70,000 per year for three years. Annual profits from the sale of the new product, estimated to be $80,000 will begin in the fourth year and continue for ten years. Using a rate of return of 20%, compute the present value of the venture.

Answer 6

P=-70,000(P/A)²⁰₃+80,000 (P/A)²⁰₁₀(P/F)²⁰₃