<span> <span>Solution:
A = P(1+r)^n
where,
A = amount
P = principal
r = rate of interest
n = number of years
Putting values in the formula,
8850 = 2750(1+0.08)^n
8850/2750 = (1+0.08)^n
log will be used to solve "n" as it is in the exponent form, which gives,
log(8850/2750) = n log(1+0.08)
By solving, we get n = log(8850/2750) / log(1+0.08)
Using financial calculator, value comes as 15.187 rounded to 15.19.
So, he will have to wait for 15.19 years to take holidays as it will take 15.19 years to make $8850 from $2750 @ 8% annual compounding.</span> </span>
Answer: True
Explanation:
Financial intermediaries are the institutions they have been put in place like a building society, bank, or unit-trust company, which are charged with the responsibility of holding funds from the lenders so that loans will be made available to people that wants to borrow.
It should be noted that banks that are financial intermediaries generate earnings when they facilitate the transfer of money from savers to borrowers by paying savers a smaller return than they demand from borrowers. This earning is their charges for the service rendered.
As of 2011, the world's population has reached 7 billion. The annual population growth rate is 1.2%, thereby there would be an additional 1 billion population growth at approximately 11 years or by 2021 the population would be 8 billion.
(.) Technological
<h3>What is the technological environment?</h3>
The company's external environment that is related to technological advancements and changes includes the technological environment. Furthermore, the term "technology" is typically connected to method and apparatus. Their transformation presents the organization with both risks and opportunities.
It has an impact on a number of business factors. That might present a chance or a danger. Companies must adapt to technological variables since they are beyond their control. Companies must therefore be able to change with new technology advancements.
Early adopters of new technologies frequently increase their market share and profit margins. As a result, businesses need to monitor trends and developments. Utilizing opportunities while reducing dangers is the goal. The business can remain competitive in this way.
To know more about the technological environment visit:- brainly.com/question/1381237
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True. With competition in a market, firms have to compete to stay ahead of the others
