Intermediate Algebra
Intermediate Algebra
10th Edition
ISBN: 9781285195728
Author: Jerome E. Kaufmann, Karen L. Schwitters
Publisher: Cengage Learning
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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 re…
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.
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Cate purchases $1600 worth of stock and her broker estimates it will increase in value by 4.2% each year. After about how many years will the value of Cate' stock be about $2000? after 6 year after 20 years after 2 years after 3 years
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Transcribed Image Text:Cate purchases $1600 worth of stock and her broker estimates it will increase in value by 4.2% each year. After about how many years will the value of Cate' stock be about $2000? after 6 year after 20 years after 2 years after 3 years
Expert Solution
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Step 1

Given:

Principal amount=$1600

annual interest rate = 4.2%

                                   = 0.042

Final amount = $2000

 

 

To determine:

time (t)

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