Answer:
x= 12
Step-by-step explanation:
Please see attached picture for full solution.
How+long+will+it+take+for+$2900+to+grow+to+$25,600+at+an+interest+rate+of+10.4%+if+the+interest+is+compounded+quarterly?+round+t
1 answer:
The number of years to the nearest hundredth is t = 21 years and 3 months.
<h3>What is compound interest?</h3>It is defined as the interest on the principal value or deposit and the interest which is gained on the principal value in the previous year.
We can calculate the compound interest using the below formula:
Where A = Final amount
P = Principal amount
r = annual rate of interest
n = how many times interest is compounded per year
t = How long the money is deposited or borrowed (in years)
It is given that:
A = $25,600
P = $29,00
r = 10.4 = 0.104
n = 4
After solving:
t = 21.212 years
Or
t = 21 years and 3 months
Thus, the number of years to the nearest hundredth is t = 21 years and 3 months.
Learn more about the compound interest here:
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Answer:
d. t distribution with df = 80
Step-by-step explanation:
Assuming this problem:
Consider independent simple random samples that are taken to test the difference between the means of two populations. The variances of the populations are unknown, but are assumed to be equal. The sample sizes of each population are n1 = 37 and n2 = 45. The appropriate distribution to use is the:
a. t distribution with df = 82.
b. t distribution with df = 81.
c. t distribution with df = 41.
d. t distribution with df = 80
Solution to the problem
When we have two independent samples from two normal distributions with equal variances we are assuming that
And the statistic is given by this formula:
Where t follows a t distribution with degrees of freedom and the pooled variance
is given by this formula:
This last one is an unbiased estimator of the common variance
So on this case the degrees of freedom are given by:
And the best answer is:
d. t distribution with df = 80