O Akomiah deposits GHS1,000 into his bank account. The bank credits interest at nominal annual rate j, convertible semi-annually, for the first seven years and nominal annual rate 2j, convertible quarterly, for all years thereafter. The accumulated value of the account at the end of 5 years is 2X. If the accumulated value of the account at the end of 10.5 years is GHS1,980, find the value of X.

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Estimation

A new framework of data analysis where the new statistical methods are used for interpreting the results and analyzing the data is known as estimation in statistics.