Your make $690.78 on 5.8% compounded annually that the account was opened 8 years ago. What was your initial deposit 8 years ago?

$439.98

Step-by-step explanation:

The initial deposit is the principal invested P

Step one:

we want to solve for the principal using the compound interest formula.

the formula is

A=P(1+r)^t

Step two:

given data

Final amount A=690.78

time t=8 years

rate r= 5.8%= 0.058

Step three:

Substituting in the expression we have

690.78=P(1+0.058)^8

690.78=P(1.058)^8

690.78=P*1.57

P=690.78/1.57

P=$439.98

The initial deposit is $439.98

0.6495

Step-by-step explanation:

This is question based on conditional probability

The probability that a customer plans to make a purchase = 0.32.

The probability that a customer plans not to make a purchase = 1 - 0.32

= 0.68

The probability of responding to an advertisement given that the customer plans to make a purchase = 0.63

The probability of responding to an advertisement given that a person does not plan to make a purchase = 0.16.

Given that a person responds to the advertisement, what is the probability that they plan to make a purchase is calculated as:

0.32 × 0.63/(0.32 × 0.63) + (0.16 × 0.68)

= 0.2016/ 0.2016 + 0.1088

= 0.2016/0.3104

= 0.6494845361

Approximately = 0.6495