Answer: $4,365.10
Step-by-step explanation:
Ok, we know that:
The account starts with $2350
There is a simple interest of 3.75% (or 0.035).
Then after one year, the amount in the account will increase by 3.75%, this means that the amount will be:
$2350 + 0.035*$2350 = (1.035)*$2350.
After another year, we have the same increase (but applied to the new amount in the account):
(1.035)*$2350 + 0.035*(1.035)*$2350. = (1.035)^2*$2350
And so on.
You already can see the pattern here, the amount of money in the saving account after N years will be:
M(N) = $2350*(1.035)^N.
Now we can answer:
what is the balance of the account if it earns a simple interest of 3.75% for 18 years?
Just replace N by 18 in that equation:
M(18) = $2350*(1.035)^18 = $4,365.10
Answer: 145
Step-by-step explanation:
check
Using the z-distribution, it is found that the smallest sample size required is given by:
B) 7 vehicles.
<h3>What is the margin of error for a z-distribution confidence interval?</h3>
It is given by:
In which:
is the population standard deviation.
In this problem, we have a 90% confidence level, hence
, z is the value of Z that has a p-value of 
, so the critical value is z = 1.645.
The margin of error and the population standard deviation are given by, respectively:
.
Then, we solve for n to find the needed sample size.
Rounding up, 7 vehicles have to be sampled, hence option B is correct.
More can be learned about the z-distribution at brainly.com/question/25890103
