<span>Total = Principal × ( 1 + Rate )<span>^years
</span></span><span>Total = 150,000 * (1.055) ^ 30
</span>Total = 150,000 *
<span>
<span>
<span>
4.9839512884
</span></span></span>Total =
<span>
<span>
<span>
747,592.69</span></span></span>
<span>Total = 150,000 * (1.065) ^ 30
</span><span><span><span>Total = 150,000 * 6.614366163
</span>
</span>
</span>
<span>Total = 992,154.92</span>
Difference = 992,154.92 -<span>747,592.69 =
</span><span>244,562.23
</span>
Source:
http://www.1728.org/compint.htm
online interest calculator
You will need this formula:
<span>
Years = {log(total) -log(Principal)} ÷ log(1 + rate)
</span>
Years = {log (8,000.00) - log (<span> 6,449.82 )} </span><span>÷ log (1.069)
</span>
<span>Years = (3.903089987 - 3.8095475946) / 0.028977705209
</span>
Years =
<span>
<span>
<span>
0.0935423924
</span>
</span>
</span>
/ <span>0.028977705209
</span>
Years =
<span>
<span>
<span>
3.2280814414
</span>
</span>
</span>
Which would be approximately 3 years 3 months
Source:
http://www.1728.org/compint2.htm
The amount of money which you must invest today is equal to $68,517.85.
<h3>How to calculate the present value?</h3>
Mathematically, the present value of an investment can be calculated by using this formula:
Present Value, PV = FV/(1 + r)^t
<u>Given the following data:</u>
Time, t = 9 years.
Future value, FA = $190,000.
Interest rate, r = 12% = 0.12.
Substituting the given parameters into the formula, we have;
PV = 190,000/(1 + 0.12)^9
PV = 190,000/(1.12)^9
PV = 190,000/2.7730
PV = $68,517.85.
Read more on present value here: brainly.com/question/14811400
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Answer:
Step-by-step explanation:
1. Null hypothesis: u <= 0.784
Alternative hypothesis: u > 0.784
2. Find the test statistics: z using the one sample proportion test. First we have to find the standard deviation
Using the formula
sd = √[{P (1-P)}/n]
Where P = 0.84 and n = 750
sd =√[{0.84( 1- 0.84)/750]}
sd=√(0.84 (0.16) /750)
SD =√(0.1344/750)
sd = √0.0001792
sd = 0.013
Then using this we can find z
z = (p - P) / sd
z = (0.84-0.784) / 0.013
z =(0.056/0.013)
z = 4.3077
3. Find the p value and use it to make conclusions...
The p value at 0.02 level of significance for a one tailed test with 4.3077 as z score and using a p value calculator is 0.000008254.
4. Conclusions: the results is significant at 0.02 level of significance suck that we can conclude that its on-time arrival rate is now higher than 78.4%.