Suppose You Deposit $100 in the Bank and Leave It

question 52

Multiple Choice

Suppose you deposit $100 in the bank and leave it there for 10 years. At the end of 10 years, how much will be in my account if the annual rate of interest is 5 percent?

• A)$150
• B)$163
• C)$105
• D)$200
• E)$175

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Definitions:

Population Standard Deviation

A measure of the dispersion or spread of a set of data values in a population, indicating how much individuals within this population vary from the population mean.

Interval Estimate

An estimate of a population parameter that provides a range of values believed to contain the parameter with a certain degree of confidence.

Sample Standard Deviation

A measure of the dispersion or variability of a set of data points in a sample.

Point Estimate

A single value estimation derived from a sample that serves as the best guess of a population parameter.