Answer:
$152,419.36
Step-by-step explanation:
The future value of an ordinary annuity is given by the formula ...
FV = P((1 +r/12)^(12t) -1)/(r/12)
where P is the monthly payment, r is the annual interest rate, and t is the number of years.
<h3>Annuity value</h3>For P = 350, r = 0.021, and t = 27 (years to retirement age), the value is ...
FV = 350((1 +0.021/12)^324 -1)/(0.021/12) ≈ $152,419.36
The value of Jolene's retirement account when she turns 60 will be $152,419.36.
Answer:
the 90% of confidence intervals for the average salary of a CFA charter holder
(1,63,775 , 1,80,000)
Step-by-step explanation:
<u>Explanation</u>:-
random sample of n = 49 recent charter holders
mean of sample (x⁻) = $172,000
standard deviation of sample( S) = $35,000
Level of significance α= 1.645
<u> 90% confidence interval</u>
on calculation , we get
(1,63,775 , 1,80,000)
The mean value lies between the 90% of confidence intervals
(1,63,775 , 1,80,000)