which of the following give the highest future value is 6000000 is invested at 6% for 3 years​

Answers

Answer 1

Answer:

$5084745.76271

Step-by-step explanation:

Given data

Final amount= $6000000

Rate=6%

Time= 3 years

Now let us find the initial amount which is the principal

using the simple interest formula we have

6000000 = P(1+0.06*3)

6000000 =P(1+0.18)

6000000 =P*1.18

P= 6000000 /1.18

P=$5084745.76271

Hence the initial deposite is $5084745.76271


Related Questions

In an extensive study involving thousands of British children, Arden and Plomin (2006) found significantly higher variance in the intelligence scores for males than for females. Following are hypothetical data, similar to the results obtained in the study. Note that the scores are not regular IQ scores but have been standardized so that the entire sample has a mean of M 5 10 and a standard deviation of s 5 2. a. Calculate the mean and the standard deviation for the sample of n 5 8 females and for the sample of n 5 8 males. b. Based on the means and the standard deviations, describe the differences in intelligence scores for males and females.

Answers

Answer:

mean value of female = 10.000

standard deviation of female = 1.604

mean value of male = 10.000

standard deviation of male = 2.449

Step-by-step explanation:

Given:

n=8 females

n=8 males

The objective is to find the mean and deviation and also based on the mean and the standard deviation have to describe the differences in intelligence scores for males and females

Solution:

The mean and the standard deviation are found by using MINITAB

The MINITAB procedure is explained as follows,

Step 1

choosing start > Basic statistics > Display Descriptive Statistics

Step 2

In variables supposed to enter the columns Female and Male

Step 3

Here choosing option statistics and select Mean and standard deviation

Step 4

Finally clicking OK

MINITAB output is as follows,

variable Mean standard deviation

Female 10.000 1.604

Male 10.000 2.449

b)

From the MINITAB output the mean are same for females and males.

Here the standard deviation of females is less than the standard deviation of males. That is the male scores are more variable when compared to female scores.

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