Question

question 18 (3 points)
how much money should be deposited today in an account that earns 4.39% compounded monthly so that it will accumulate to $31,150 in 2 years?
use this formula:
$pv = \frac{fv}{(1 + \frac{r}{n})^{nt}}$
enter the dollar amount rounded up to the nearest cent.
your answer:
answer
statistics
question 19 (3 points)
you have data on the number of ice cream cones sold each day for a month. which type of graph would be best to visualize trends over time?
histogram
pie chart
bar graph
line graph

Explanation:

Step1: Identify the values

$FV = 31150$, $r=0.0439$ (4.39% as a decimal), $n = 12$ (compounded monthly), $t = 2$.

Step2: Substitute into the formula

$PV=\frac{FV}{(1 +\frac{r}{n})^{nt}}=\frac{31150}{(1+\frac{0.0439}{12})^{12\times2}}$.

Step3: Calculate the denominator

$(1+\frac{0.0439}{12})^{12\times2}=(1 + 0.00365833)^{24}$.
Using a calculator, $(1 + 0.00365833)^{24}\approx1.09277$.

Step4: Calculate PV

$PV=\frac{31150}{1.09277}\approx28505.53$.

A line graph is best for visualizing trends over time as it connects data points with lines, making it easy to see how the number of ice - cream cones sold changes from day to day. A histogram is used for showing the distribution of data within intervals, a pie chart is for showing proportions of a whole, and a bar graph is better for comparing discrete categories rather than showing trends over time.

Answer:

$28505.53$