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olasank [31]
3 years ago
11

How long will it take your money to double if you put $500 into an account compounded quarterly at 2.9%?

Mathematics
1 answer:
vitfil [10]3 years ago
8 0
<h3>Answer: About 24 years</h3>

=======================================================

Work Shown:

A = P*(1+r/n)^(n*t)

1000 = 500*(1+0.029/4)^(4*t)

1000 = 500*(1.00725)^(4*t)

1000/500 = (1.00725)^(4*t)

2 = (1.00725)^(4*t)

log(2) = log( 1.00725^(4*t) )

log(2) = 4*t*log( 1.00725 )

4*t*log( 1.00725 ) = log(2)

t = log(2)/( 4*log( 1.00725 ) )

t = 23.9881659971072 The value is approximate

t = 24 when rounding to the nearest full year

It takes approximately 24 years to double your money.

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An advertising executive claims that there is a difference in the mean household income for credit cardholders of Visa Gold and
Maslowich

Answer:

Null hypothesis:\mu_{Visa}=\mu_{Mastercard}

Alternative hypothesis:\mu_{Visa} \neq \mu_{Mastercard}

t=\frac{66970-59060}{\sqrt{\frac{9500^2}{11}+\frac{10000^2}{17}}}}=2.108  

p_v =2*P(t_{26}>2.108)=0.0448

Comparing the p value with the significance level given \alpha=0.1 we see that p_v so we can conclude that we can reject the null hypothesis, and a would be a significant difference between the  in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold at 10% of significance .

Step-by-step explanation:

Data given and notation

\bar X_{Visa}=66970 represent the mean for Visa

\bar X_{Mastercard}=59060 represent the mean for the sample Mastercard

s_{Visa}=9500 represent the population standard deviation for Visa

s_{Mastercard}=10000 represent the population standard deviation for Mastercard

n_{Visa}=11 sample size for the group Visa

n_{Mastercard}=17 sample size for the group Mastercard

t would represent the statistic (variable of interest)

\alpha=0.1 significance level provided

Develop the null and alternative hypotheses for this study?

We need to conduct a hypothesis in order to check if the means for the two groups are different, the system of hypothesis would be:

Null hypothesis:\mu_{Visa}=\mu_{Mastercard}

Alternative hypothesis:\mu_{Visa} \neq \mu_{Mastercard}

Since we don't know the population deviations for each group, for this case is better apply a t test to compare means, and the statistic is given by:

z=\frac{\bar X_{Visa}-\bar X_{Masterdcard}}{\sqrt{\frac{s^2_{Visa}}{n_{Visa}}+\frac{s^2_{Mastercard}}{n_{Mastercard}}}} (1)

t-test: Is used to compare group means. Is one of the most common tests and is used to determine whether the means of two groups are equal to each other.

Calculate the value of the test statistic for this hypothesis testing.

Since we have all the values we can replace in formula (1) like this:

t=\frac{66970-59060}{\sqrt{\frac{9500^2}{11}+\frac{10000^2}{17}}}}=2.108  

What is the p-value for this hypothesis test?

First we need to calculate the degrees of freedom given by:

df= n_{Visa}+n_{Mastercard}-2 = 11+17-2= 26

Since is a bilateral test the p value would be:

p_v =2*P(t_{26}>2.108)=0.0448

Based on the p-value, what is your conclusion?

Comparing the p value with the significance level given \alpha=0.1 we see that p_v so we can conclude that we can reject the null hypothesis, and a would be a significant difference between the  in the mean household income for credit cardholders of Visa Gold and of MasterCard Gold at 10% of significance .

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Ms.acton spent 205.60 at target. If the sales tax is 6% what was her final bill
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Answer: just put c

Step-by-step explanation:

C is always correct

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The heights of women in the united states are normally distributed with a mean of 64 inches and a standard deviation of 2.75 inc
9966 [12]
According to the normal distribution curve:

<span>"the percent of women whose heights are between 64 and 69.5 inches"</span> represents the values within 2 standard deviation ,,,

And that value is 95% of the whole data



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If the function f(x)=mx+b has an inverse function, which statement must be true
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The first option .

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Read 2 more answers
On a coordinate plane, 2 cube root functions are shown. Function f (x) goes through (negative 3, negative 1.5), has an inflectio
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Using translation concepts, it is found that the equation that represents the graph of g(x) is:

g(x) = \sqrt[3]{x + 2}.

<h3>What is a translation?</h3>

A translation is represented by a change in the function graph, according to operations such as multiplication or sum/subtraction in it's definition.

In this problem, we have that g(x) is a shift left of 2 units of f(x), hence:

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More can be learned about translation concepts at brainly.com/question/4521517

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