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(Not sure if I’m right but it’s what I think)
I guess the correct answer is traditional.
The way the 19th-century Inuit divided the “spoils of the hunt” demonstrates a traditional economy.
Since it says “Double” it means you’re multiplying by 2 each time. So the answer is 8,000.
(17-18) 1,000x2=2,000
(18-19) 2,000x2=4,000
(19-20) 4,000x2=8,000
Answer:
The annual equal payment is $26,691
Explanation:
The balance to be paid off in 30 equal installment is given as $250000-($250000*14%)=$215000
The applicable formula to use in calculating the equal annual payment is present value of an ordinary annuity given below:
PV=A*(1-(1+r)^-N/r)
A=PV/(1-(1+r)^-N/r)
PV=$215000
(1-(1+r)^-N/r)=1-(1+12%)^-30/12%
=(1-0.033377924
)/12%
=0.966622076
/12%
=8.055183968
since the annuity factor is 8.055183968
A=215000/8.055183968
A=$26,690.89
In other words, the annual payment required is $26.691
Factors such as life expectancy, energy consumption, per capita GDP, literacy rates, and infant mortality rates are used to measure the development of a country.