Find the future value (FV) of the annuity due. (Round your answer to the nearest cent.) $175 monthly payment, 7% interest, 11 ye
1 answer:
Answer:
The future value of the annuity due to the nearest cent is $2956.
Step-by-step explanation:
Consider the provided information:
It is provided that monthly payment is $175, interest is 7% and time is 11 years.
The formula for the future value of the annuity due is:
Now, substitute <em>P</em> = 175, <em>r</em> = 0.07 and <em>t</em> = 11 in above formula.
Hence, the future value of the annuity due to the nearest cent is $2956.
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Step-by-step explanation:
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Answer:
The 95% confidence interval estimate of the population mean rating for Miami is (6.0, 7.5).
Step-by-step explanation:
The (1 - <em>α</em>)% confidence interval for the population mean, when the population standard deviation is not provided is:
The sample selected is of size, <em>n</em> = 50.
The critical value of <em>t</em> for 95% confidence level and (<em>n</em> - 1) = 49 degrees of freedom is:
*Use a <em>t</em>-table.
Compute the sample mean and sample standard deviation as follows:
Compute the 95% confidence interval estimate of the population mean rating for Miami as follows:
Thus, the 95% confidence interval estimate of the population mean rating for Miami is (6.0, 7.5).