The amount gotten after $1689 invested for 4 years at 3% compounded annually is $1901
The amount of money gained after an investment is compounded is given by:
Where P is principal, A is the final amount, r is the rate, n is the number of times compounded per period and t is the time
Given that P = $1689, t = 4, r = 3% = 0.03, n = 1, hence:
The amount gotten after $1689 invested for 4 years at 3% compounded annually is $1901
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Answer: A. 0.50
Step-by-step explanation:
The formula to find the sample size :
, where p= Prior estimate of population proportion.
E= Margin of error
z* =Critical z-value.
When , we do not have prior estimate of population proportion , we use p= 0.5 because at p=0.5 it gives the maximum same sample size for the corresponding confidence interval and margin of error.
Therefore , the conservative value for n can be obtained by using p=0.50.
Therefore , the correct answer is A.0.50 .