Use a calculator to find the mean of the data. {21.6, 25, 20.6, 24.6, 20.3, 25.2, 22.8, 24.1, 22.5, 22.5, 22.6, 22, 24.6, 23.6,
1 answer:
You might be interested in
Answer:
845.6306
Step-by-step explanation:
Firstly this is annuity based
Let, investment at beginning of year = <em>x</em>
Then value at year 1 end = x + (8.2% x)
Value at end of year 2 = (x + 0.082x) + (8.2% (x + 0.082x))
Now this value = $990
Therefore,
990 = (x + 0.082x) + ((x + 0.082x) 8.2%)
990 = x + 0.082x + 0.082x + 0.006724x = 1.170724x
x = 990/1.170724 = 845.6306