Answer:
<u>The correct answer is B. US$371.32</u>
Step-by-step explanation:
1. Let's review the data given to us for solving the question:
Loan that Jesse's Mother did to Jesse = US$ 350
Duration of the loan = 2 years
Annual interest rate = 3% compounded annually
2. Let's find the future value of this loan after 2 years, using the following formula:
FV = PV * (1 + r) ⁿ
PV = Loan that Jesse's Mother did to Jesse = US$ 350
number of periods (n) = 2
rate (r) = 3% = 0.03
Replacing with the real values, we have:
FV = 350 * (1.03) ²
FV = 350 * 1.0609
FV = 371.32
<u>Jesse will pay his mom back altogether US$ 371.32.</u>
Answer:
huh?
Step-by-step explanation:
Answer:
Mean: 40.17 years.
Standard deviation: 10.97 years.
Step-by-step explanation:
The frequency distribution is in the attached image.
We can calculate the mean adding the multiplication of midpoints of each class and frequency, and dividing by the sample size.
The midpoints of a class is calculated as the average of the bounds of the class.
Then, the mean can be written as:

The standard deviation can be calculated as:
![s=\sqrt{\dfrac{1}{N-1}\sum f_i(X_i-E(X))^2}\\\\\\s=\sqrt{\dfrac{1}{59}[3(15-40.17)^2+7(25-40.17)^2+18(35-40.17)^2+20(45-40.17)^2+12(55-40.17)^2]}](https://tex.z-dn.net/?f=s%3D%5Csqrt%7B%5Cdfrac%7B1%7D%7BN-1%7D%5Csum%20f_i%28X_i-E%28X%29%29%5E2%7D%5C%5C%5C%5C%5C%5Cs%3D%5Csqrt%7B%5Cdfrac%7B1%7D%7B59%7D%5B3%2815-40.17%29%5E2%2B7%2825-40.17%29%5E2%2B18%2835-40.17%29%5E2%2B20%2845-40.17%29%5E2%2B12%2855-40.17%29%5E2%5D%7D)
