The time required to get a total amount of $3,300.00 with compounded interest on a principal of $1,650.00 at an interest rate of 6.2% per year and compounded 12 times per year is 11.209 years. hence the answer is
A. 2001
<h3>Compound Interest Calculation</h3>
(about 11 years 3 months)
First, convert R as a percent to r as a decimal
r = R/100
r = 6.2/100
r = 0.062 per year,
Then, solve the equation for t
t = ln(A/P) / n[ln(1 + r/n)]
t = ln(3,300.00/1,650.00) / ( 12 × [ln(1 + 0.062/12)] )
t = ln(3,300.00/1,650.00) / ( 12 × [ln(1 + 0.0051666666666667)] )
t = 11.209 years
Learn more about Compound Interest here:
brainly.com/question/24924853
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Based on the current level of GDP, the investment spending, and the MPC, the new level of the real GDP will be $195 million.
<h3>What is the new level of the GDP?</h3>
First find the investment multiplier as:
= 1 / (1 - MPC)
= 1 / (1 - 0.7)
= 3.333
The new level of GDP is:
= Current level of GDP + (Investment spending x Multiplier)
= 150 + (13.5 x 3.333)
= $195 million
Find out more on the investment multiplier at brainly.com/question/6600233.
Answer:
A. business plan.
Explanation:
A business plan is a detailed written document you do to plan how you're going to make your business work, it includes components like marketing, operational and even financial viewpoint you'll need to cover in order to achieve a goal.
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