Mika's parents want to have enough saved to give her $15 000 a year - for 4 years of college. They have 17 years until she will need the money. How much should they save per month if the investment earns 4% per year, compounded monthly?

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Confidence Intervals

When we calculate intervals in probability and statistics, it can be simply termed as finding out a confidence interval. The confidence interval is usually calculated from the data set which is observed. The value of the parameter that needs to be calculated is present here only.