Three friends decide that they each want to be able to buy a new bike in four years.
Iliana puts $500 in a savings account with a simple interest rate of 4%.
Joann invests $515 in a standard savers account with a simple interest rate of 3%. Cyndy invests $500 in a junior achievers account with a 3.5% compound interest rate.
Using the formula I=Prt for simple interest and A=P(1+r)^t for compound interest, who will have the most money to spend on a new bike at the end of the four years?

1. Joann will have the most money, $576.80 for the bike
2. Cyndy will have the most money, $580.00 for the bike.
3. Cyndy will have $576.80, the most money for the bike.
4. Iliana will have $580.00, the most money for the bike.

How do i start to solve? would appreciate a walk-thru! a bird sitting 16ft above the ground in an apple tree dislodges an apple. after how many seconds does the apple land on the ground? (assuming that no branches will interfere with it's fall)

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Aprisoner is trapped in a cell containing three doors. the first door leads to a tunnel that returns him to his cell after two days of travel. the second leads to a tunnel that returns him to his cell after three days of travel. the third door leads immediately to freedom. (a) assuming that the prisoner will always select doors 1, 2 and 3 with probabili- ties 0.5,0.3,0.2 (respectively), what is the expected number of days until he reaches freedom? (b) assuming that the prisoner is always equally likely to choose among those doors that he has not used, what is the expected number of days until he reaches freedom? (in this version, if the prisoner initially tries door 1, for example, then when he returns to the cell, he will now select only from doors 2 and 3.) (c) for parts (a) and (b), find the variance of the number of days until the prisoner reaches freedom. hint for part (b): define ni to be the number of additional days the prisoner spends after initially choosing door i and returning to his cell.