pablo has $4200 to invest. pablo's goal is to have $5000 after 4 years. is this possible if he invests with a rate of return of
2 answers:
Answer:
He would get $5208 after 4 years.
Step-by-step explanation:
The principal amount that Peblo has = $4200
Peblo's goal is to have $5000 after 4 years.
Interest rate = 6%
Simple interest formula = I = P(rt)
=
I = 4200 (0.06 × 4)
I = 4200 (0.24)
I = 1,008
Interest would be 1,008.
Total amount 4200 + 1008 = $5,208
Pablo can reach his goal to have $5000 after 4 years.
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Answer:
Step-by-step explanation:
Hello!
There are two variables of interest:
X₁: number of college freshmen that carry a credit card balance.
n₁= 1000
p'₁= 0.37
X₂: number of college seniors that carry a credit card balance.
n₂= 1000
p'₂= 0.48
a. You need to construct a 90% CI for the proportion of freshmen who carry a credit card balance.
The formula for the interval is:
p'₁±
0.37±1.648*
0.37±1.648*0.015
[0.35;0.39]
With a confidence level of 90%, you'd expect that the interval [0.35;0.39] contains the proportion of college freshmen students that carry a credit card balance.
b. In this item, you have to estimate the proportion of senior students that carry a credit card balance. Since we work with the standard normal approximation and the same confidence level, the Z value is the same: 1.648
The formula for this interval is
p'₂±
0.48±1.648*
0.48±1.648*0.016
[0.45;0.51]
With a confidence level of 90%, you'd expect that the interval [0.45;0.51] contains the proportion of college seniors that carry a credit card balance.
c. The difference between the width two 90% confidence intervals is given by the standard deviation of each sample.
Freshmen:
Seniors:
The interval corresponding to the senior students has a greater standard deviation than the interval corresponding to the freshmen students, that is why the amplitude of its interval is greater.