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Rama09 [41]
4 years ago
14

what is the final amount of 17.50 that is put into a saving account with 4 annual interest rate compounded yearly for 25 years?

Mathematics
1 answer:
pickupchik [31]4 years ago
6 0
To find the total amount, you will use the formula for finding compounded interest.  This means you will be paid interest on top of the interest you have earned each year.

A = P(1 + r)^nt
P stands for the principal.
r is the interest rate when compounded annually
nt is the number of years

A = 17.50(1 + 0.04)^25
A = $46.65

This person would have $46.65 after 25 years.
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Use the given sample data to construct the indicated confidence interval for the population mean. The principal randomly selecte
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Answer:

The 90% confidence interval

(74.71, 82.63)

Step-by-step explanation:

Confidence Interval Formula is given as:

Confidence Interval = μ ± z (σ/√n)

Where

μ = mean score

z = z score

N = number of the population

σ = standard deviation

The mean is calculated as = The average of their scores

N = 6 students

(71.6 + 81.0 + 88.9 + 80.4 + 78.1 + 72.0 )/ 6

Mean score = 472/6

= 78.666666667

≈ 78.67

We are given a confidence interval of 90% therefore the

z score = 1.645

Standard Deviation for the scores =

s=(x -σ)²/ n - 1 =(71.6 - 78.67)²+(81.0 - 78.67)²+(88.9 - 78.67)² + (80.4 - 78.67)²+ (78.1 - 78.67)²+( 72.0 - 78.67)2/ 6 - 1

= 5.886047531

= 5.89

The confidence interval is calculated as

= μ ± z (σ/√N)

= 78.67 ± 1.645(5.89/√6)

= 78.67 ± 3.9555380987

The 90% confidence interval

is :

78.67 + 3.9555380987 = 82.625538099

78.67 - 3.9555380987 = 74.714619013

Therefore, the confidence interval is approximately between

(74.71, 82.63)

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3 years ago
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