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andre [41]
3 years ago
6

Your cousin is currently 10 years old. She will be going to college in 8 years. Your aunt and uncle would like to have $ 105 com

ma 000 in a savings account to fund her education at that time. If the account promises to pay a fixed interest rate of 4.1 % per​ year, how much money do they need to put into the account today to ensure that they will have $ 105 comma 000 in 8 ​years?
Business
1 answer:
telo118 [61]3 years ago
6 0

Answer:

$76,134.84

Explanation:

Data provided in the given question

Future value = $105,000

Fixed interest rate = 4.1%

Number of years = 8

The calculation of present value is given below:-

= Future value ÷ (1 + rate of return)^number of years

= $105,000 ÷ (1 + 4.1%)^8

= $105,000 ÷ 1.379132002

= $76,134.84

Therefore, we simply applied the present value formula.

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During the 1990s, one of the dominant firms in the U.S. cigarette industry would raise prices once or twice a year by about 50 c
Veronika [31]

Answer:

This is an example of price leadership.

Explanation:

Price leadership is a type of practice where a firm, most likely a dominant one, sets the price and other firms follow it. It is commonly seen in an oligopoly market.  

In an oligopoly market, there are a few firms, these firms are interdependent. A price change by one firm affects its rivals.

Price leadership is of different types.

  • Barometric
  • Collusive
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So when a dominant firm changes its price, the followers have to follow it if we they want to retain their market share.

8 0
3 years ago
Joe sold gold coins for $1,000 that he bought a year ago for $1,000. He says, "At least I didn't lose any money on my financial
sergejj [24]

Answer:

B) opportunity costs.

Explanation:

Opportunity cost is the fortified benefits when a choice is made. It is the sacrificed option from a  variety of possible choices. The value of opportunity cost is expressed as the cost of the next best alternative.

According to the economist, Joe made a loss because his opportunity cost would have yielded a better return. In evaluating the viability of a project, economists always consider the returns from the next best alternative. Joe would have made a profit if the returns from the sales of gold were higher than the 3 percent from a certificate of deposit.  Because Joe opted for the gold, he missed the chance to earn from the certificate of deposit. In economics, he made a loss.

3 0
3 years ago
As a general rule, an illegal contract is automatically _______, so neither party may enforce it against the other.
Arisa [49]

As a general rule, an illegal contract is automatically void, so neither party may enforce it against the other.

<h3>What is Illegal contract ?</h3>

A contract is illegal if it involves doing something that is a criminal act or a civil wrong, or against the public good.

An Illegal contract or agreement is a contraction in terms when a contract is a legal obligation, illegal contract is viewed as a contradiction in terms.

An Illegal contract is called a contradiction for the following reasons listed below:

When a contract has a term that is obligatory, it is called a legal contract.

According to the rules of terms, when a contract is not done legally, it is considered an illegal contract. On the common law of a contract or agreement, when a court does not apply or impose in any case or otherwise for a contract, it is seen as illegal.

Learn more about Illegal Contract on:

brainly.com/question/16760289

#SPJ4

5 0
2 years ago
Outdoor Adventure Industries is a U.S.-based manufacturer of sporting goods. It has recently decided to make a major push to sel
Stells [14]

Answer:

a) become certified in ISO 9000 standards

Explanation:

Currently, the European Union requires companies that have businesses within their borders, to comply with ISO 9000 quality standards

4 0
3 years ago
The business-to-business cleaning supply company, Ecolab, encouraged a leading competitor, Diversity, to adopt a strategy to go
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Answer:

Raise competitor costs.

Explanation:

Raising competitor costs is basically a strategy to gain market share.

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