Answer:
$3144.20
Explanation:
Using the formula of Future Value FV = PV(1 + R)^N
where;
Present Value PV = $1633
Rate R = 0.14
∴
FV = $1633(1 + 0.14)^5
FV = $1633(1.14)^5
FV = $3144.20
Answer:
A. True
Explanation:
Large commercial and retail banks have been choosing to increase the amount of excess reserves they hold in the Federal Reserve, and this has caused an increase in the money multiplier and the money supply.
This is true as an increase in the Federal reserves would lead to increased room for loan and lending facilities which would also help increase the money supply of the populace.
Answer and Explanation:
The rule of 72 refers the time period in which your investment which you invest should be doubled
So based on the rule of 72, the computation is shown below:
1. doubling time for France per capita real GDP is
= Rule of 72 ÷ rate
= 72 ÷ 1.9
= 37.89 years
2. Doubling time for Korea per capita real GDP is
= Rule of 72 ÷ rate
= 72 ÷ 4.2
= 17.14 years
3. France per capita real GDP in year 2045 is
= Per capita read GDP × (1 + growth rate)^time period
= $28,900 × 1.019^42
= $63,710.88
4. Korea per capita real GDP in year 2045 is
= Per capita read GDP × (1 + growth rate)^time period
= $12,700 × 1.042^42
= $71,490.43
The time period 42 comes from
= 2045 - 2003
= 42 years
The price system is an important component of the market because it coordinates the activities of producers, consumers, and owners of resources.
The answer to this question is option c. In economics the price system can simply be described as the way of organizing economic activities.
In order to do this, it coordinates the decisions of the buyers, the suppliers or the producers, and the owners of productive resources.
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