Tony believes that the more time he spends at the record store, the more money he tends to spend. To see if he is correct, he ke
pt a record of his recent purchases each time he visited the record store and displayed them in the scatter plot below. He also determined the line of best fit.
The equation of the line is y=2.4 x - 1.8
record store visit
Based on the graph shown, which of the following statements are true?
Select THREE that apply.
A
The line of best fit will have a positive correlation coefficient.
B
Each additional minute Tony spends in the record store is associated with an additional cost of $2.40.
C
The correlation coefficient for the line of best fit is 2.4.
D
If Tony stays for 30 minutes in the record store, it is likely he will spend $70.
The equation of the line is y=2.4 x - 1.8
record store visit
Based on the graph shown, which of the following statements are true?
Select THREE that apply.
A
The line of best fit will have a positive correlation coefficient.
B
Each additional minute Tony spends in the record store is associated with an additional cost of $2.40.
C
The correlation coefficient for the line of best fit is 2.4.
D
If Tony stays for 30 minutes in the record store, it is likely he will spend $70.
1 answer:
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Answer:
$18,726.11
Step-by-step explanation:
Lets use the compound interest formula provided to solve this:
<em>P = initial balance</em>
<em>r = interest rate (decimal)</em>
<em>n = number of times compounded annually</em>
<em>t = time</em>
<em />
First lets change 9% into a decimal:
9% -> -> 0.09
Since the interest is compounded quarterly, we will use 4 for n. Lets plug in the values now:
<u>The balance after 5 years is $18,726.11</u>