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dangina [55]
3 years ago
15

On February 1, 1977, John deposited $2250 into a savings account paying 5.76% interest, compounded quarterly. If he hasn't made

any additional deposits or withdrawals since then, and if the interest rate has stayed the same, in what year did his balance hit $4500, according to the rule of 72?
Mathematics
1 answer:
Travka [436]3 years ago
5 0
John's effective annual rate is about
  (1 +.0576/4)^4 -1 ≈ 5.8856%
According to the "rule of 72", John's money will have doubled in
  72/5.8856 = 12.23 years

John's balance will be $4500 in 1989.

_____
Since you're only concerned with the year (not the month), you don't actually need to determine the effective annual rate. The given rate of 5.76% will tell you 72/5.76 = 12.5 years. The actual doubling time is closer to 12.12 years, so using the effective rate gives results that are closer, but "good enough" is good enough in this case.
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4. The following intervals were plausible population proportions for a given sample. Find the margin of error in each case.
Vedmedyk [2.9K]

Answer: a. 0.15  b. 0.03 c. 0.055 d. 0.05

Step-by-step explanation:

For plausible intervals of population proportions , the margin of error is basically half of the difference between upper limit and lower limit.

a.  Interval =  From 0.35 to 0.65

Upper limit = 0.65

Lower limit = 0.35

Difference = Upper limit- Lower limit

= 0.65-0.35=0.30

Margin of error = (Difference)÷2  =(0.30)÷2=0.15

b. Interval =  From 0.72 to 0.78

Upper limit = 0.78

Lower limit = 0.72

Difference =  0.78-0.72 = 0.06

Margin of error  =(0.06)÷2=0.03

c. Interval =  From 0.84 to 0.95

Upper limit = 0.95

Lower limit = 0.84

Difference =0.95-0.84= 0.11

Margin of error = (0.11)÷2 = 0.055

d.Interval =  From 0.47 to 0.57

Upper limit =  0.57

Lower limit =  0.47

Difference = 0.57-0.47=0.10

Margin of error = (0.10)÷2=0.05

3 0
3 years ago
Let f(x) = 3x + 2 and g(x) = 6x - 7. Find f(x) - g(x)
OLga [1]
F(x) - g(x) = 3x + 2 - (6x-7) = 3x + 2 - 6x + 7 = -3x + 9;

There is no answer correct!
3 0
3 years ago
There is a 24% sale on a sweater that costs $40
Andrews [41]

Answer:

What is the question here?

3 0
3 years ago
Solve for x by factoring<br> x^2 + 2x = 24<br><br> Please help
ryzh [129]
= 4

= -6
HOPE THIS HELP ^_^
5 0
2 years ago
How many times does 0.15 go into 500?
Alexxx [7]
One way is to divide 500 by 0.15
500/0.15=3333.3333333
the answer is about 3333 times
4 0
3 years ago
Read 2 more answers
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