if the interest rate is 3% and a total of $4,370.91 will be paid to you at the end of 3 years, what is the present value of that
1 answer:
You might be interested in
Answer:
C. (36337.32, 48968.68)
Step-by-step explanation:
We have that to find our level, that is the subtraction of 1 by the confidence interval divided by 2. So:
Now, we have to find z in the Ztable as such z has a pvalue of .
So it is z with a pvalue of , so
Now, find M as such
In which is the standard deviation of the population and n is the size of the sample.
The lower end of the interval is the sample mean subtracted by M. So it is 42653 - 6315.68 = 36337.32.
The upper end of the interval is the sample mean added to M. So it is 42653 + 6315.68 = 48968.68.
So the correct answer is:
C. (36337.32, 48968.68)