To determine the future value of an initial amount of $845 at an interest rate of 11.3% over 7 years, we will utilize the compound interest formula, which is expressed as:
A=p(1+r/100)^n
where:
A=future value
r=rate=11.3%=0.113
time=7 years
Hence, the future value of the capital will be:
A=845(1+0.113)^7
A=845(1.113)^7
A=$1,787.82
The last part of the question is asking;
What was the total amount spent by all (99.7%) students on textbooks in a semester?
Response:
almost all (99.7%) of the students spent between $165 and $315 on textbooks in a semester.
Stepwise clarification:
The standard deviation rule informs that for normally distributed data, approximately 99.7% of observations fall within three standard deviations from the mean.
In this case, we have the given mean as 240, and standard deviation as 25
Thus, calculating three standard deviations below the mean: Mean - 3(standard deviation)
equals 240 - (3 × 25)
yielding 240 - 75 = 165
Now, for three standard deviations above the mean: Mean + 3 (standard deviation) = 240 + (3 × 25)
equals 240 + 75 = 315
Therefore, nearly all (99.7%) of the students spent between $165 and $315 on textbooks in a semester.
Yes, this reflects the correct answer as [[TAG_10]]
100 plus 70 equals 170
170 divided by 10 equals 17
That makes 17 trains of 10 cubes
The student ought to fix the vehicle, as that would be more economical.
