Jen bought a house for 250000 and wishes to sell it in 5 years. If the inflations average 3% over 5 years, how much will she receive?

Answer 1

To calculate the final amount after inflation, we need to calculate the compounded amount.

First, we need to find the inflation rate for 5 years. The average inflation rate is given as 3%.

Secondly, we can use the formula for compound interest: Final amount = Principal amount * (1 + interest rate)^n,
where Principal amount is the initial price of the house, interest rate is the inflation rate, and n is the number of years.

Using the given information, the formula becomes: Final amount = 250000 * (1 + 0.03)^5.

Calculating this, we get: Final amount = 250000 * (1.03)^5 = 250000 * 1.1592741.

So, the final amount Jen will receive after 5 years, taking into account the average inflation rate of 3%, is $289,818.52.

Answer 2

The variance of a data is 64. If all scores of this data set are divided by 4, what is the new standard deviation?

Answer 3

The standard deviation is the square root of the variance. Therefore, if the variance is 64, the standard deviation is √64 = 8.

If we divide all the scores in the data set by 4, the standard deviation will also be divided by 4.

So, the new standard deviation after dividing all scores by 4 will be 8/4 = 2.