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    Regression Analysis and Quarterly Compound Interest

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    1) For a five year period, Ken deposited $800 each quarter into an account paying 2.6% annual interest compounded quarterly. (Round your answers to the nearest cent.)

    (a) How much money was in the account at the end of 5 years?
    (b) How much interest was earned during the 5 year period?
    Ken then made no more deposits or withdrawals, and the money in the account continued to earn 2.6% annual interest compounded quarterly, for 3 more years.
    (c) How much money was in the account after the 3 year period?
    (d) How much interest was earned during the 3 year period?

    2) The average temperature in Metropolis in 1970 was 51.5 degrees. In 2010, the average
    temperature in Metropolis was 56.7 degrees. Let y be the average temperature in Metropolis in year x, where x = 0 represents the year 1970.
    (a) Which of the following linear equations could be used to predict the average Metropolis temperature y in a given year x, where x = 0 represents the year 1970?

    A. y = 5.2x + 51.5
    B. y = 5.2x − 10,192.5
    C. y = 0.13x + 51.5
    D. y = 0.13x − 204.6

    (b) Use the equation from part (a) to predict the average temperature in Metropolis in the year 2040.
    (c) Fill in the blanks to interpret the slope of the equation: The rate of change of temperature with respect to time is ______________________ per ________________. (Include units of measurement.)

    © BrainMass Inc. brainmass.com May 20, 2020, 11:44 pm ad1c9bdddf
    https://brainmass.com/math/discrete-math/regression-analysis-quarterly-compound-interest-588098

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    1)For a five year period, Ken deposited $800 each quarter into an account paying 2.6% annual interest compounded quarterly. (Round your answers to the nearest cent.)
    (a) How much money was in the account at the end of 5 years?
    The money in the account at the end of 5 year=800*(1+2.6%/4)4*5=$916.68

    (b) How much interest was earned during the 5 year period?
    The interest earned during the 5 year period=916.68-800=$110.68

    Ken then made no more ...

    Solution Summary

    The solution gives detailed steps on solving 2 different questions: one is for regression analysis and the other is for quarterly compound interest.

    $2.19

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