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An account with a rate of 10% compounded CONTINUOUSLY earns less interest than an account with a rate of 10% compounded monthly.

If the initial deposit (principal) is $1000 and the interest rate is 4% compounded annually, at the end of one year, the balance will be more than $1040. 

The number of residents in a small village grew by 8% to 1296 last year. How many residents were there the year before?

Complete the table below.  Suppose 8% of those who take the COVID-19 test actually have the virus. The test is 90% accurate in identifying those with COVID-19 and those without COVID-19. Out of 1000 people tested, find out how many people will test positive and how many of those are “false positives” (those who test positive but don’t actually have the virus).  Tested Positive Tested Negative Total Actually with COVID-19 [a] [b] 80 Actually without COVID-19 [c] [d] 920 Total [e] [f] 1000 Copy this table on your paper and fill in the blank boxes. Write ONLY your answers in the response box. Show your work which justifies your answers ON YOUR PAPER.    

If you flip a coin three times, there are altogether 32 = 9  outcomes.

Complete the table below.  Suppose 6% of those who take the COVID-19 test actually have the virus. The test is 90% accurate in identifying those with COVID-19 and those without COVID-19. Out of 1000 people tested, find out how many people will test positive and how many of those are “false positives” (those who test positive but don’t actually have the virus).  Tested Positive Tested Negative Total Actually with COVID-19 [a] [b] 60 Actually without COVID-19 [c] [d] 940 Total [e] [f] 1000 Copy this table on your paper and fill in the blank boxes. Write ONLY your answers in the response box. Show your work which justifies your answers ON YOUR PAPER.

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The probability of an event that will NEVER occur is -1. 

If the interest is compounded “6% monthly,” it really means that they will calculate and add interest at _________________