Based on the table, which of the following is true?

If you walk into a(n) __________, you will likely find a broad variety of merchandise, deep assortment, and customer service, wi

Naily [24]

Answer:

department store

Explanation:

A department store is a type of retailer that offers a wide range of diverse products. Each product group is classified into a department, thus the name "department store". When customers buy products, they usually check out near the exit of the whole department store, although there are some check-out counters in each department. Also, customer service is always present, mostly in the form of numerous sales clerks providing a helping hand.

They can include almost any range of products: toiletries, furniture, home decor, clothes, toys, hardware... Some famous examples are: Le Bon Marché in Paris, Selfridges in the UK, Macy's in the USA...

On the other hand, a <em>discount store</em> usually offers a broad product range, low prices, but little to none customer service. <em>Specialty stores</em> have a narrow target group as they offer a limited assortment.

5 0

3 years ago

Barry has just become eligible for his employer-sponsored retirement plan. Barry is 40 and plans to retire at 65. Barry calcula

snow_lady [41]

Answer:

$713,449.15

Explanation:

Barry’s total personal amount to invest = Initial amount + additional amount

= $4,500 + 1,140

Barry’s total personal amount to invest = $5,640

Since Barry’s employer would match this amount, total amount to invest will be;

Total amount to invest for Barry = $5,640 + $5,640 = $11,280

The new amount Barry will have at retirement can be calculated using future value of an annuity formula stated as follows:

FV = M × {[(1 + r)^n - 1] ÷ r} ................................. (1)

Where,

FV = Future value of the amount at the retirement

M = Total amount to contribute yearly by Barry and his employer = $11,280

r = Rate of return = 7% = 0.07

n = number of periods = 65 – 40 = 25 years

Substituting the values for into equation (1), we have:

FV = $11,280 × {[(1 + 0.07)^25 - 1] ÷ 0.07}

= $11,280 × {[(1.07)^25 - 1] ÷ 0.07}

= $11,280 × {[5.42743264012289 - 1] ÷ 0.07}

= $11,280 × {4.42743264012289 ÷ 0.07}

= $11,280 × 63.2490377160413

FV = $713,449.15

Therefore, Barry would have $713,449.15 at retirement if he could invest an additional $1,140 per year that his employer would match.

7 0

3 years ago

Why do many advertising sales agents work on holidays and weekends? Explain

Black_prince [1.1K]

Answer:

Advertising sales agents work on holidays and weekends because that is when people buy. For example, during Christmas they are working advertising products so people will buy for Chirstmas. It is the biggest part of the year where people buy products and they need to work to advertise to consumers to buy their products.

5 0

3 years ago

Read 2 more answers

Which country has had a higher growth rate than the US over about the last 120 years?

Drupady [299]

Highest growth rate based on GDP rate is found in Japan. This has been an ongoing trend for the last 100 years.

6 0

3 years ago

For each of the following situations, identify (1) the case as either (a) a present or a future value and (b) a single amount or

taurus [48]

Answer:

a. The present value of a future value of $10,000 is $7,310.

b. The present value of an annuity for a future value of $10,000 is $1,043.54.

c. Yes, you will retire with $1,036,226.07 .

Explanation:

a) Data and Calculations:

Future value = $10,000

Interest - 8% compounded semiannually

Period of investment = 4 years

Using the present value table, the discount factor of 0.731, the future value of $10,000 is $7,310

b) You will need to contribute $1,043.54 at the beginning of each period to reach the future value of $10,000.00.

FV (Future Value) $10,000

PV (Present Value) $7,306.90

N (Number of Periods) 8.000

I/Y (Interest Rate) 4.000%

PMT (Periodic Payment) $1,043.54

Starting Investment $0.00

Total Principal $8,348.30

Total Interest $1,651.70

c) $1,000,000 in 40 years:

FV (Future Value) $1,036,226.07

PV (Present Value) $47,698.45

N (Number of Periods) 40.000

I/Y (Interest Rate) 8.000%

PMT (Periodic Payment) $4,000.00

Starting Investment $0.00

Total Principal $160,000.00

Total Interest $876,226.07

5 0

3 years ago