Its the connection between those numbers
$394.51 is future value of money after 2 years.
What future value means?
- A current asset's future value (FV), which is based on an estimated rate of growth, is its value at a later time.
- Investors and financial planners use the future value to project how much an investment made now will be worth in the future.
The method that results in more money after 2 years is Peggy's investment.
Which method results in more money in 2 years?
The formula for calculating the future value of an investment:
FV = P (1 + r)^nm
FV = Future value
P = Present value
R = interest rate
m = number of compounding
N = number of years
Future value of Larry's investment: $350 x [1 + (0.04/4)]^(4 x 2) = $379
Future value of Peggy's investment: $350 x [1 + (0.06/12)]^(12 x 2) = $394.51
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Answer:
c. The interquartile range offers a measure of income inequality among California residents.
Step-by-step explanation:
The range is the midspread which measures statistical dispersion. This is also known as H-spread which is equal to the difference between 75th percentile and 25th percentile. In the given scenario the interquartile range offers measure of income inequality among California residents.
53: 800 and 900
54: 700 and 800
55: 500 and 600
56: 2,771,100 and 2,771,200
57: 90,120,000 and 90,120,100
58: 631,900 and 632,000
59: 93,300 and 93,400
60: 200 and 300
61: 900 and 1000
62: 39,576,700 and 39,576,800
63: 24,900 and 25,000
64: 471,100 and 471,200
If these both men were working at normal hours, and then, (John) worked "2 more hours" than Gary has, this would just mean that he has worked more.
x+2= x+2.
Now if John has worked the double amount, 4 more times than Gary's usual hours, this would mean something quite different.
Then the expression would look like, (x+2×4x)
We don't know how many hours are the "usual hours", this is what "x" would then represent.
John has then worked (4×2+x) more hours than Gary.
Your answer: (4×2+x)
