Answer: a) $1,000 + $1,000 x .08 x 3 = $1,240
Explanation:
Monthly retirement Benefit at age 67 = $1000
Incremental rate on benefit beyond age 67 = 8%
Incremental rate on benefit beyond age 70 = 0
Period = 70 - 67 = 3years
Estimated monthly benefit at age 72;
Monthly benefit at age 67 + (monthly benefit at age 67) × incremental rate × increment period × 12
$1000 + ($1000 × 0.08 × 3 )
$1000 + $240.00
=$1240
Similarly,
This means monthly rate = 8% / 12 = 0.0066667
Total period = 12 × 3 = 36 months
Total = Principal + (principal × rate × time)
1000 + (1000 × 0.0066667 × 36)
1000 + 240.0012
1,240.0012 = 1240
The new product development begins with the idea generation.
<u>Explanation:</u>
The five basic stages of new product development (NPD) are as follows,
- Idea generation: This is the first and foremost process of NPD. It is systematic search for new ideas from internal and external sources.
- Idea screening: Filtering the best ideas from all the selected ones.
- Concept development: Developing the reliable concepts with the help of SWOT analysis.
- Marketing strategy development: Description of the target market, outline of the product’s planned price and planned long-term sales
- Business analysis: Review of the sales, R&D, operations and efficiency ratio measure.
- Product development: Developing a successful prototype
- Test marketing: The proposed marketing program and the developed product is released in the realistic market.
- Commercialisation: Introducing the developed product finally and permanently into market.
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
The dealership sold 50 trucks at an average price of $9,000 each. The budget for the month was to sell 45 trucks at an average price of $9,500 each.
Sales price variance= (standard price - actual price)*actual quantity
Sales price variance= (9,000 - 9,500)*50= 25,000 favorable
Sales quantity variance= (standard quantity - actual quantity)*standard price
Sales quantity variance= (50 - 45)*9,000= 45,000 unfavorable
The first three steps of the strategic management process involve <u>planning</u> strategies.
Strategic planning is a system in which an agency's leaders outline their imaginative and prescient destiny and become aware of their agency's desires and goals. The method consists of setting up the sequence in which the goals should be realized in order that the business enterprise can reach its stated vision.
Inside making plans, there are 4 important categories: strategic, tactical, operational, and contingency planning. Strategic planning is a manner that groups use to determine their dreams and targets.
Strategic planning is an agency's procedure of defining its approach or direction and making selections on allocating its assets to achieve strategic goals. it is able to also extend to govern mechanisms for guiding the implementation of the strategy.
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