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____ [38]
2 years ago
5

You decide to invest in a period annuity that offers 4.5% APR compounded monthly for 15 years how much money will you need to in

vest if your desired yearly income is $40,000?
A. $460,000.00

B.$321,631.08

c.$471,283.83

D$432,835.96
Mathematics
1 answer:
Vitek1552 [10]2 years ago
5 0

Answer:

The answer is $321,631.08

Step-by-step explanation:

I just did a test on it. Got it wrong, but it showed me the right answer.

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Assume that all conditions are met. The mean of the differences was 1. 33 and the standard deviation of those differences was 2.
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The test statistic for this procedure is using two sample T-test is 0.458.

Definition of Two Sample T-test

A variation of the Student's t-test used to determine if two sample means are substantially different is known as the two sample T-test (also known as Welch's t-test, Welch's adjusted T, or unequal variances t-test). The test's degrees of freedom have been changed, which generally boosts the test's power for samples with unequal variance.

T-Test Statistic for The Procedure

It is given that mean of the differences = 1.33

And, the standard deviation of the differences, standard error = 2.90

The test static formula is given as,

t = (estimate - hypothized value) / standard error

Here,  t is the t- test statistic, and estimate is the mean of the differences.

Since it is given that all conditions are met, the hypothized value can be taken as 0

Substituting substituting estimate = 1.33 and standard error = 2.90 in the t-test statistic formula, we get,

t = (1.33-0)/2.90

or t = 0.458

learn more about t-test here:

brainly.com/question/14128303

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