Jackson and olivia deposited $9,047.00 into a savings account which earns interest compounded monthly. after 8 months, they had $9,779.00 in the account which they used to go on a trip. what was the interest rate on the account?
round your answer to the nearest tenth of a percent.

  11.7%

Step-by-step explanation:

The account balance (A) for a principal amount P and monthly interest rate r will be ...

  A = P(1 +r)^8

Then we can divide by P and take the 8th root to find r:

  A/P = (1+r)^8

  (A/P)^(1/8) = 1 +r

  (A/P)^(1/8) - 1 = r

Since this is the monthly rate, we need to multiply this value by 12 to find the annual interest rate on the account:

  annual rate = 12((A/P)^(1/8) -1) = 12((9779/9047)^(1/8) -1) ≈ 0.11728 ≈ 11.7%

Step-by-step explanation:

Given ;

a) P ( X = 13 ) = C(15,13) x 0.56^13 x (1-0.56)^2 = 0.0108

b) Mean = np = 15 x 0.56= 8.400

Standard deviation = √(np(1-p)) = √(15 x 0.56 x (1-0.56)) = 1.9225

c) P(X>10) = 1 - P(X≤10) = 1 - 0.8633 = 0.1367

d) P(X≥12) = P(X=12) + P(X=13) + P(X=14) + P(X=15) = 0.0498

e) P(Y=3) = C(3,1) x 0.56^1 x (1-0.56)^2 x 0.56 = 0.1821

f) P(Y=2) = C(2,1) 0.56^1 x (1-0.56)^1 x 0.56 = 0.2760