Milan deposited 4000 into an account with 5.4% interest, compounded monthly. Assuming that no withdrawals are made, how much will he have in the account after 3 years. Round to nearest cent

Milan will have $4701.73 in his account

Step-by-step explanation:

Final Value in Compound Interest

The compound interest computes each interest earned in a period including the interest earned in the previous periods.

If an initial value or principal P is deposited into an account with an interest rate i, during n periods, the final value FV will be

If the interest is compounded monthly we must convert to the monthly equivalent:

The period of investment must be expressed in months, thus

Now we find the final value

FV=4000(1+0.0045)^36=4701.73

Milan will have $4701.73 in his account

solution:

as, mean is defined as sum of all the observations divided by total number of observations.

and , median is mid value of the data whether arranged in ascending order or descending order.

consider, roadsters:

2,3,4,5,6,7,8,9

mean =

also, median= , because number of observations is even, so median is mean of two mid values.

now, coming to bandits

2,3,4,5,6

mean =  

median = 4, as number of observations is odd.

so, roadsters has greater median as well mean than bandits.

→option a is true about the repairs performed on 2 types of cars:

bandits have lower median and mean than roadsters.

step-by-step explanation: