A sample of 25 measurements on a normally distributed quality characteristic has a mean of 85 and a standard deviation of 1. Usi
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Answer:
A.
Step-by-step explanation:
We use the simple interest equation of A=P(1+rt).
A-the total amount with interest earned
P-the initial amount or principal
r-rate
t-time in years
We substitute the values P=300, A=381, and t=9. We then solve for r.
We divide both sides by 300.
Simplify.
We subtract 1 from both sides.
Simplify.
We divide by 9.
r=0.03
We need to convert the decimal to a percentage by multiplying by 100.
The interest rate is 3%.