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MrRa [10]
2 years ago
5

Present value sura wiggle would like to make a single investment have 2.2 million at the time of her retirement in 28 years she

has found a mutual fund that will earn 7% annually how much will Sarah have to invest today if there are an annual return of 15%
Mathematics
1 answer:
levacccp [35]2 years ago
3 0

Answer:

if the annual interest rate is 7%, then you need to invest:

present value = future value / (1 + i)ⁿ

  • future value = $2,200,000
  • i = 7%
  • n = 28 years

present value = $2,200,000 / (1 + 7%)²⁸ = $330,884.87

if the interest rate is 15%, the you need to deposit a smaller amount:

present value = future value / (1 + i)ⁿ

  • future value = $2,200,000
  • i = 15%
  • n = 28 years

present value = $2,200,000 / (1 + 15%)²⁸ = $43,942.34

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2 years ago
The local branch of the Internal Revenue Service spent an average of 21 minutes helping each of 10 people prepare their tax retu
AURORKA [14]

Answer:

The confidence Interval is [- 0.7053  10.4521]

a: The  hypotheses  are

H0: μ1=μ2    against the claim Ha :μ1≠μ2

b. The critical value for t∝/2 for 17 d.f  t > 2.508 and  t < -2.111

c. t= -2.8422

d. The calculated value of t= -2.8422 is less than t < -2.11 the critical value therefore we reject H0 and conclude there is a difference between the two means.

Step-by-step explanation:

When the standard deviations are not the same then the confidence intervals for mean differences are calculated as

(x1`-x2`)- t∝/2 √s1²/n1 + s2²/n2 < u1-u2 < (x1`-x2`)+ t∝/2 √s1²/n1 + s2²/n2

x1`= 21        x2`= 27

n1=  10       n2= 14

s1= 5.6       s2= 4.3

The degrees of freedom is calculated using

υ = [s₁²/n1 + s₂²/n2]²/ (s₁²/n1 )²/ n1-1 + (s₂²/n2)²/n2-1

= 17

The t∝/2 for 17 d.f = 2.11

Putting the values

(x1`-x2`)- t∝/2 √s1²/n1 + s2²/n2 < u1-u2 < (x1`-x2`)+ t∝/2 √s1²/n1 + s2²/n2

(21-27) - 2.11√5.6²/10+ 4.3²/14 < u1-u2 <(21-27)  +2.11√5.6²/10+4.3²/14

6- 2.11*2.111 < u1-u2 <  ( 6 )  +2.11*2.111

6- 4.4521 < u1-u2 <  ( 6 )  +5.294

- 1.5479 < u1-u2 <  10.4521

The confidence Interval is [- 0.7053  10.4521]

a: The  hypotheses  are

H0: μ1=μ2    against the claim Ha :μ1≠μ2

The claim is that there is a difference in the average time spent by the two services

b. The critical value for t∝/2 for 17 d.f  t > 2.508 and  t < -2.111

The degrees of freedom is calculated using

υ = [s₁²/n1 + s₂²/n2]²/ (s₁²/n1 )²/ n1-1 + (s₂²/n2)²/n2-1

= 17

c. The test statistic is

t= (x1`-x2`)  /√s1²/n1 + s2²/n2

t= (21-27)  /√5.6²/10+ 4.3²/14

t= -6/2.111

t= -2.8422

d. The calculated value of t= -2.8422 is less than t < -2.11 the critical value therefore we reject H0 and conclude there is a difference between the two means.

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Answer:

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