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3 years ago

15

Dan invests £800 into his bank account. He receives 5% per year compound interest. How much will Dan have after 4 years? Give yo

ur answer to the nearest penny where appropriate.

1 answer:

bulgar [2K]3 years ago

6 0

Answer: £1021

Step-by-step explanation:

100% + 5% = 105% = 1.05

800 x (1.05^5) =

£1021

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3 years ago

Read 2 more answers

The estimate of the population proportion should be within plus or minus 0.02, with a 90% level of confidence. The best estimate

Rudiy27

Answer:

The sample size required is 910.

Step-by-step explanation:

The confidence interval for population proportion is:

$CI=\hat p\pm z_{ \alpha /2}\sqrt{\frac{\hat p(1-\hat p)}{n} }$

The margin of error is:

$MOE=z_{ \alpha /2}\sqrt{\frac{\hat p(1-\hat p)}{n} }$

Given:

$\hat p = 0.16\\MOE= 0.02\\Confidence\ level =0.90$

The critical value of <em>z</em> for 90% confidence level is:

$z_{\alpha /2}=z_{0.10/2}=z_{0.05}=1.645$ *Use a standard normal table.

Compute the sample size required as follows:

$MOE=z_{ \alpha /2}\sqrt{\frac{\hat p(1-\hat p)}{n} }\\0.02=1.645\times \sqrt{\frac{0.16(1-0.16)}{n} }\\n=\frac{(1.645)^{2}\times 0.16\times (1-0.16)}{(0.02)^{2}} \\=909.2244\\\approx910$

Thus, the sample size required is 910.

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4 years ago