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Given a 10% Interest Rate Compounded Semiannually,the Dollar Amount Available

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Given a 10% interest rate compounded semiannually,the dollar amount available on September 1,2015,assuming 12 semiannual deposits of $2,000 each with the first deposit made on March 1,2010,is:


Definitions:

SRS

Simple random sampling, a basic probabilistic method ensuring each member of a population has an equal chance of being included in the sample.

Statistically Significant

Refers to a result that is unlikely to have occurred by chance alone, according to a predefined significance level, often indicating a strong evidence against the null hypothesis.

Hypotheses

Plural of hypothesis; propositions or assumptions made for the sake of argument that are tested through research or experimentation to be proven or disproven.

Z Statistic

The Z statistic is a measure used in statistics to describe the distance in standard deviations a data point is from the mean of a data set.

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