question 18 (3 points)\nhow much money should be deposited today in an account that earns 4.39% compounded…

question 18 (3 points)\nhow much money should be deposited today in an account that earns 4.39% compounded monthly so that it will accumulate to $31,150 in 2 years?\nuse this formula:\n$pv = \\frac{fv}{(1 + \\frac{r}{n})^{nt}}$\nenter the dollar amount rounded up to the nearest cent.\nyour answer:\nanswer\nstatistics\nquestion 19 (3 points)\nyou 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?\nhistogram\npie chart\nbar graph\nline graph

question 18 (3 points)\nhow much money should be deposited today in an account that earns 4.39% compounded monthly so that it will accumulate to $31,150 in 2 years?\nuse this formula:\n$pv = \\frac{fv}{(1 + \\frac{r}{n})^{nt}}$\nenter the dollar amount rounded up to the nearest cent.\nyour answer:\nanswer\nstatistics\nquestion 19 (3 points)\nyou 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?\nhistogram\npie chart\nbar graph\nline graph

Answer

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

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

Answer:

$28505.53$

Brief Explanations:

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:

D. Line graph