Tom opens a bank account and makes an initial deposit of $15,000. The banker tells Tom that he is going to receive an annual rat
e of 3.5% on his investment. Find the bank balance assuming Tom leaves the account untouched for 15 years. In your final answer, include all of your calculations.
Assuming annual compounding, then: FV=15000*(1+.035)^15 FV=15000*1.6753488307521611831782355996538 FV=$25130.23 At the end of 15 years, Tom should have $25130.23 in his account.
The data for resort A shows more consistency because a larger interquartile range such as the one for resort B, shows more variation. This means that the snowfall for resort A is more likely to be close to the median.
