Suppose you want your daughters college fund to contain $125,000 after 14 years. If you can get 7.8% compounded monthly, how much should you deposit at the end of each month?

Therefore I should deposit $412.50 at the end of each month.

Step-by-step explanation:

Given that, I want my daughters college fund to contain$125,000 after 14 year. The rate of interest 7.8% compounded monthly.

To find the the deposit, we use the following formula

A = amount=$125,000

P= principal =?

r= rate of interest= 7.8%=0.078

n=12 [compounded monthly]

t= 14 years

⇒P=$412.50(approx)

Therefore I should deposit $412.50 at the end of each month.

answer: expected value of x = 1.0

step-by-step explanation:

p(x=0) = 0.25

p(x=1) = 0.50

p(x=2) = 0.25

expected value for x = 0×0.25 + 1×0.5 + 2×0.25 = 1.0