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Andrew [12]
3 years ago
13

The mean of 10 observations is 16.5. it was later

Mathematics
1 answer:
Georgia [21]3 years ago
7 0
The correct mean is 18.3 because you add 1.8 to the mean.
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Hi there
The formula is
A=p (1+r)^t
A future value 11700
P present value 900
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T time?
We need to solve for t
T=log (A/p)÷log (1+r)
So
T=log(11,700÷900)÷log(1+0.0875)
T=30.6years round your answer to get
T=31 years

Hope it helps
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