The greenhouse club is purchasing seed for the lawn in the school courtyard. The club needs to determine how much to buy. Unfort
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Invested amount (P) = $300.
Time in years (t) = 2 years.
Balance after 2 years (A) = $329.49.
Let us assume rate of interest = r % compounds annually.
We know, formula for compound interest
Plugging values in formula, we get
Taking square root on both sides, we get
r=0.048.
Converting it into percentage by multiplying by 100.
r=0.048 × 100
r = 4.8 %
Therefore, the rate of interest on the account is 4.8% compounds annually.
Based on the information given, the true statement true about their gas-price data is A. Raquel’s data are most likely closer to $3.42 than Van’s data are to $3.78.
<h3>Solution to the gas-price data.</h3>It should be noted that a standard deviation simply measures how dispersed the data will be in relation to the mean.
From the complete question, the mean of Raquel's data is given as 3.42 while the standard deviation is given as 0.07. On the other hand, the mean of Van's data is given as 3.78 while the standard deviation is given as 0.23.
Therefore, it can be deduced that Raquel’s data are most likely closer to $3.42 than Van’s data are to $3.78.
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