Joan has savings of $12,000 on June 1. Since she may need some of the savings during the next 3 months, she is considering two options at her bank. (1) An Investment Builder savings account earns a 0.25% rate of interest. The interest is calculated on the daily closing balance and paid on the first day of the following month. (2) A 90- to 179-day cashable term deposit earns a rate of 0.8%, paid at maturity. If simple interest rates do not change and Joan does not withdraw any of the funds, how much more will she earn from the term deposit up to September 1? (Keep in mind that savings account interest paid on the first day of the month will itself subsequently earn interest during the subsequent month.)
You want to estimate the average gas price in your city for a litre of regular unleaded gasoline.You take a random sample of prices from 15 gas stations,recording an average cost of $1.27 and a standard deviation of $0.06.Create a 95% confidence interval for the mean price per litre of gas.
A) ($1.23,$1.41) B) ($1.24,$1.38) C) ($1.24,$1.30) D) ($1.21,$1.43) E) ($1.26,$1.38)
A) for which the Cell Value is equal to the right-hand side of the value of the constraint B) for which the Cell Value is greater than the right-hand side of the value of the constraint C) for which the Cell Value is lesser than the right-hand side of the value of the constraint D) for which the Cell Value is not equal to the right-hand side of the value of the constraint
A credit union pays 5.25% compounded annually on five-year compound interest: GICs. It wants to set the rates on its semiannually and monthly compounded GICs of the same maturity so that investors will earn the same total interest. What should be the rates on the GICs with the higher compounding frequencies?