Find balance in account on day of last deposit
The deposit of 1,000 is made once a year, starting today, into the bank acount earning 3% interest per year, compounded annually. If 20 deposits are made, find balance in account on day of last deposit?
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A safety officer wants to prove that ? = the average speed of cars driven by a school is less than 25 mph. Suppose that a random sample of 14 cars shows an average speed of 24.0 mph, with a sample standard deviation of 2.2 mph.
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Annual deposits of 3,000 are made into the bank account earning 5% interest per year. Find balance in account right after 15th deposit if interest is calculated A. Annually B. Continuously.
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