Math Problem Statement

d and e are 2 units. d = 1 and e = 1/16d. The probability of e being 16 is 0.6 but can go up to 32 with a probabilty of 0.4. If D Gives me 12% intrest and e 24 which one is better

Solution

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Math Problem Analysis

Mathematical Concepts

Probability
Expected Value
Interest Rates

Formulas

Expected Value formula: E(X) = Σ(x * P(x))
Simple Interest formula: I = PRT

Theorems

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Suitable Grade Level

College