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ivann1987 [24]
3 years ago
9

Ted Williams made deposits of $500 at the end of each year for eight years. The rate is 8% compounded annually. The value of Ted

's annuity at the end of eight years is (use the tables in the handbook):
Mathematics
1 answer:
Leviafan [203]3 years ago
7 0

Answer:

The value of Ted's annuity at the end of eight years is $5318.3138.

Step-by-step explanation:

Given : Ted Williams made deposits of $500 at the end of each year for eight years. The rate is 8% compounded annually.

To find : The value of Ted's annuity at the end of eight years ?

Solution :

The future value of an ordinary annuity is given by,

FV=C[\frac{(1+i)^n-1}{i}]

Where,

C is deposit amount C=$500

n is the number of payments n=8

i is the interest rate i=8%=0.08

Substitute the value in the formula,

FV=500[\frac{(1+0.08)^{8}-1}{0.08}]

FV=500[\frac{(1.08)^{8}-1}{0.08}]

FV=500[\frac{0.8509}{0.08}]

FV=500[10.6366]

FV=5318.3138

Therefore, the value of Ted's annuity at the end of eight years is $5318.3138.

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Problem 1

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Percentage of patients that were dogs = 46%

Standard Error = 0.07048404074682

Margin of error for 90% confidence interval = 0.11594624702851

Margin of error for 95% confidence interval = 0.13814871986377

Round the decimal values however you need them

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===============================================

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