Answer:
It will take 3 years to have enough money to purchase the car.
Explanation:
We can use either Compounding or Discounting Formula to determine the time it will take to make $19,970 from $15,000 when the investment rate is 10%. Lets go with the Compounding Formula:
Future Value = Present Value * (1 + i) ^ n
<u>Re-arrange equation for "n" which is the Time Period:</u>
⇒ FV / PV = (1 + i) ^ n
Taking log on both sides;
⇒ log (FV / PV) = log (1 + i) ^ n
OR log (FV / PV) = n log (1 + i)
OR n = log (FV / PV) / log (1 + i)
Simply put values now;
⇒ n = log (19,970 / 15,000) / log (1 + 10%) = log (1.33) / log (1.1) = .12 / .04
OR n = 3
Answer:
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Answer:
The equivalent interest rate under continuous compounding is 5.8%
Explanation:
Annual compounding
A = P(1+r)^n
P = $1,000
r = 6% = 0.06
n = 1 year
A = 1000(1+0.06)^1 = 1000(1.06) = $1060
Continuous compounding
A = Pe^rt
A = $1060
P = $1000
t = 1 year
1060 = 1000e^r
e^r = 1060/1000 = 1.06
e^r = 1.06
r = ln 1.06 = 0.058 = 5.8%
<span>Comparative advantage
is an economic law referring to the ability of any given economic actor
to produce goods and services at a lower opportunity cost than other
economic actors.
Thus, w</span><span>hen
a country has a comparative advantage in the production of a good, it
means that it can produce this good at a lower opportunity cost than its
trading partner. then the country will specialize in the production of
this good and trade it for other goods.</span>
Answer:
The correct answer is c. If an employer wants the employee to work more hours in a week, the result is a larger paycheck.
Explanation:
The salaried worker gives his workforce to another person, who pays him a salary in exchange. It can be said that an employee is an employee of a company or entity, unlike independent or autonomous workers.
Being a salaried worker means having to respect a series of rules and face duties such as meeting the established schedules, respecting their peers and superiors, performing the tasks they have been assigned.
