Solution-Question regarding the withdrawals or deposits

Question regarding the withdrawals or deposits

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1. Mike deposits R1500 at the end of every month int o an account that earns 12.5% interest per year compounded monthly. After two years, he stops making monthly contributions, because the interest rate changes to 15% per year compounded every two months, if no withdrawals or deposits are made for 4 years, what will the balance be in this account?

2. If Z~N(0,1)with P(a<X<1.8)=0.7800, What is the value of a?

Reference no: EM131055862

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Question regarding the withdrawals or deposits : After two years, he stops making monthly contributions, because the interest rate changes to 15% per year compounded every two months, if no withdrawals or deposits are made for 4 years, what will the balance be in this account?

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Question regarding the withdrawals or deposits

Reference no: EM131055862

Reference no: EM131055862

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