Answer:
Investor A = $545216 .
Investor B = $352377
Investor C = $897594
Explanation:
Annual rate ( r ) = 9.38%
N = 41 years
<u> Calculate the balance at age of 65</u>
1) For Investor A
balance at the end of 10 years
= $2000 (FIA, 9.38 %, 10) (1 + 0.0938) ≈ $33845
Hence at the end of 65 years ( balance )
= $33845 (FIP, 9.38 %, 31) ≈ $545216 .
2) For investor B
at the age of 65 years ( balance )
= $2000 (FIP, 9.38%, 31) = $322159 x (1 + 0.0938) ≈ $352377
3) For Investor C
at the age of 65 years ( balance )
= $2000 (FIP, 9.38%, 41) = $820620 x (1 + 0.0938) ≈ $897594
Answer:
1. Increase in number of orchards
2. Increase in housing prices
Explanation:
1. What effect is the new diet likely to have on the number of apple orchards within 100 miles of New York City?
There is going to be increased demand for apples due to this new diet and this increase in demand is going to bring about a hike in the price for apples. This price increase would make business to be viable for these apple farmers. More people would want to own orchards just to make money out of the boom in apples. Because apple farming now seems to be more profitable than other activities. <u><em>So this would cause the number of apple orchards that are within 100 miles of new york city to increase.</em></u>
2. What effect is the diet likely to have on housing prices in New York City?
- There would be an increase in housing prices in New york city as farmers would rather be planting apples on these lands instead of sellng them to developers for building houses. There would be a decrease in the supply of housing in New york.
D. Demand is greater than supply
Answer:
What
How
Who
Explanation:
Because ALL economic resources are scarce, every society must answer three questions:
1. What goods and services should be produced?
2. How should these goods and services be produced?
3. Who consumes these goods and services?
