Answer: Margin of Error = 1.944
Lower Bound = 3.052
Explanation:-
Attached below is a file for monthly Rate of return. Used an excel sheet to determine the confidence interval which seems relatively easier as compared to manual computation. The range below (A2:A40) shows the monthly
Functions used : Standard Deviation as= STDEV (A2:A40)
Sample Mean = AVERAGE(A2:A40)
Margin of Error = CONFIDENCE.T(D4,D5,D2)
Lower Bound Interval = D6-D7 = -3.052
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Simple interest is a method of calculating interest on an amount for n period of time with a rate of interest of r. The principal at the end of 3 years is $248.
<h3>What is simple interest?</h3>
Simple interest is a method of calculating interest on an amount for n period of time with a rate of interest of r. It is calculated with the help of the formula,
SI = (P × R × T)/100
where SI is the simple interest, P is the principal amount, R is the rate of interest, and T is the time period.
The principal at the end of 3 years is,
Principal after 3 years = P + (P × R × T)
= $200 + ($200 × 0.08 × 3)
= $200 + $48
= $248
Hence, the principal at the end of 3 years is $248.
Learn more about Simple Interest:
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12000 = 2x - 1500
12000 + 1500 = 2x
13500 = 2x
13500/2 = x
6750 = x <=== original price
Hope this helps!, I have to have more than 20 characters so ignore this!
