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Aloiza [94]
4 years ago
11

Find the interest rate needed for an investment of $8,000 to grow to an amount of $8,800 in 4 months if interest is compounded m

onthly.
Mathematics
1 answer:
Mariana [72]4 years ago
5 0
8800-8000/8000=10%
(r/12)^4=.1
ln (r/12)^4=4 ln r/12=ln .1
ln r/12=-0.57564627324851142100449786367109
r/12=e^-0.57564627324851142100449786367109
r=6.75% annual rate
☺☺☺☺



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Step-by-step explanation:

We are given that a statistics practitioner calculated the mean and the standard deviation from a sample of 400. They are x = 98 and s = 20.

Let = population mean.

So, Null Hypothesis, : = 100 {means that the population mean is equal to 100}

Alternate Hypothesis, : > 100 {means that the population mean is more than 100}

The test statistics that will be used here is One-sample t-test statistics because we're yet to know about the population standard deviation;

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