1 share of exxon, pennys pickles isnt exactly the most booming market right now
I believe it would be representative money. Good luck!
Answer:
6.92%
Explanation:
The computation of the annually compounded rate of interest is presented below:
Future value = Invested amount × (1 + rate)^number of years
where,
Invested amount = $1,800
Rate = ?
Number of years = 1 year
The future value = $1,924.62
So, the rate is
$1,924.62 = $1,800 × (1 + rate)^1
After solving this, the rate is 6.92%
Answer:
See attached pictures.
Explanation:
See attached pictures for explanation.
Answer: An inflation rate in excess of 200 percent, lasting at least one year
Explanation:
While no definitive figure exists for HYPERINFLATION, it is generally believed that it is an inflation rate above 200% sustained over a year.
This means that the prices of good and services in the local currency are rising at an unprecedented rate that could force the holders of such currency to attempt to switch to another currency.
Hyperinflation can ruin savings because they make savings in the local currency significantly weaker.
Countries that have experienced this are, Germany, Hungary and not too far back, Zimbabwe.