Use Tables 12-1 and 12-2 from Your Text to Answer

question 38

Short Answer

Use Tables 12-1 and 12-2 from your text to answer the following problems. (Round dollars to the nearest cent)
-Refer to Narrative in your text 12-1. Vassar Ingraham is saving to purchase a new car after graduation in 4 1/2 years. She estimates she will need $19,100 for the car, and sets up a plan whereby she deposits equal amounts into a savings account at the END of every 3-month period. Her bank is currently paying 6% interest compounded quarterly. Of the total amount in her savings account at the END of 4 1/2 years, how much of it did she deposit?

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Definitions:

Explanatory Variable

A type of variable in statistical modeling that is used to explain variations in the dependent variable; it is also known as an independent variable.

Quantitative Variables

Variables that represent numerical amounts or quantities, which can be measured and expressed numerically.

Associated

Pertains to the connection or relationship between two or more variables or factors.

Response Variable

The outcome or variable of interest that is measured or observed in a study, experiment, or analysis to see how it is affected by explanatory variables.