Base on my calculations, the answer is not in the choices given. First, we have to acknowledge that the interest rate given is not the effective interest rate instead it is called the nominal interest rate therefore we have to convert it first to an effective interest rate. We use the following formula:
Effective Interest rate = [[1 + (r/m)]^m] - 1 where r is the nominal interest rate and m is the number of compounding times
For this case, m is equal to 2 since it is compounded semianually.
Effective Interest rate = [[1 + (.12/2)]^2] - 1 = .1236
We then use the calculated effective interest rate to the formula for the Compound Interest Rate Formula.
Future Value = Present Value (1 + Effective interest rate)^(no. of years)Future Value = 3000 (1 + .1236)^( 3) = 4255.56 dollars
Answer:
2.0625
Step-by-step explanation:
Convert the fraction to a decimal by dividing the numerator by the denominator.
Answer:
-5
Step-by-step explanation:
i tried my best but this is the result
Answer: 
Step-by-step explanation:
Answer:
Step-by-step explanation:
We would set up the hypothesis test. This is a test of a single population mean since we are dealing with mean
For the null hypothesis,
µ = 17
For the alternative hypothesis,
µ < 17
This is a left tailed test.
Since the population standard deviation is not given, the distribution is a student's t.
Since n = 80,
Degrees of freedom, df = n - 1 = 80 - 1 = 79
t = (x - µ)/(s/√n)
Where
x = sample mean = 15.6
µ = population mean = 17
s = samples standard deviation = 4.5
t = (15.6 - 17)/(4.5/√80) = - 2.78
We would determine the p value using the t test calculator. It becomes
p = 0.0034
Since alpha, 0.05 > than the p value, 0.0043, then we would reject the null hypothesis.
The data supports the professor’s claim. The average number of hours per week spent studying for students at her college is less than 17 hours per week.
