Mrs. Olga’s $250 investment earns 19% interest compounded annually. What will her balance be after 3 years?
2 answers:
You might be interested in
Answer:
(351.04, 368.96)
Step-by-step explanation:
Given that population mean= 360
Std devitaion = 4
margin of error = 2.5%= 0.025
Since population std deviation is known we can use Z critical value
For two tailed critical value for 2.5% would be
2.24
Margin of error = ±Critical value*std deviation
= ±2.24(4)
= ±8.96
Confidence interval =(Mean - margin of error, mean + margin of error)
=