Answer:
8.95%
Explanation:
Data provided in the question:
Time, n = 29 years
Principle amount = $200,000
Future value = $2,400,000
Now,
Using the compounding formula
Future value = Principle × [ 1 + r ]ⁿ
here,
r is the interest rate
Thus,
$2,400,000 = $200,000 × [ 1 + r ]²⁹
or
[ 1 + r ]²⁹ = 12
taking the natural log both the sides, we have
29 × ln(1 + r) = ln(12)
or
ln(1 + r) = 0.08569
or
1 + r = 
or
1 + r = 1.0895
or
r = 0.0895
or
r = 0.0895 × 100% = 8.95%
The correct answer is Overconfidence bias
Explanation:
Overconfidence bias is the result of an excessive and unrealistic estimation of one's skills, knowledge, ideas, etc even to the point the individual considers himself better than others or does not have an objective perception about himself. This type of bias can lead to negative consequences, for example, by overestimating his ability to pass a test a student might choose not to study at all and then fail the test. Moreover, this can be avoided by assessing realistically one's skills, judgments, etc. According to this, the type of bias that can be avoided is overconfidence bias.
The pattern that is being referred to above is called the NARRATIVE PATTERN. If a speech contains a story or a series of short stories in it, and only includes a vivid imagery, the setting, plot and characters, then this would fall in the narrative pattern. Narrative means to narrate or to tell something according to the other of when it happened.
<span>What is the primary difference between a static budget and a flexible budget? The static budget contains only fixed costs, while the flexible budget contains only variable costs. Flexible budgeting allows for variables to change the budget and allotted costs for the budget. When you have a flexible budget you are understanding of things that could "come up" and have extra </span>money open to use there. In a static budget, you are strict on where your money is spent and you have a budget just for those costs.
Accrual:- in layman terms, accrual is an ongoing process. For example if you are in an auto, the fare keeps on accruing as we travel
Realization:- in layman terms realization is the receiving of the money that had accrued. For example, when you pay the auto fare, that is realization
