Answer:
Invest at a minimum of 7.5% annual simple interest
Explanation:
Given the goal of purchasing a boat that will cost $30,000 in 20 years, David needs to earn an interest computed below on his investment in the savings account.
Interest required = 30,000 - 12,000
= 18,000
Therefore the minimum rate of interest that will achieve this goal,
= Principal * rate * time = target amount
= 12,000 * R * 20 years = 18,000
= R = 18,000/(12,000*20) = 0.075 = 7.5%.
In addition, David could also continue his saving from his teaching job. This will reduce the minimum investment return required to achieve the goal.
Callaway golf company conducted a one-time survey of golfers and asked them about their attitudes, preferences, and intentions regarding buying custom clubs. this is an example of a(n) "cross-sectional study".
<h3>What is cross-sectional study?</h3>
A cross-sectional study examines data from a group of people at one point in time. Participants throughout this type of research are chosen based on certain variables of interest.
Some key features of cross-sectional study are-
- Cross-sectional studies are common in psychology, but they are also employed in many other fields, such as social science and innovation.
- Cross-sectional studies is observational in nature but are classified as descriptive research rather than causal or relational research, which means they cannot be used to pinpoint the source about something, such as a sickness.
- Researchers collect information from a population, yet they do not change variables.
- This strategy is frequently used to draw conclusions about potential links or to collect early data to enable additional research and experimentation.
To know more about the cross-sectional study, here
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Answer:
$270,000
Explanation:
Contribution per kite = $6.50 - $3.50 = $3.00
Break even point = 90,000 kites
Since;
Break even point = Fixed cost / Contribution per kite.
We have:
90,000 = Fixed cost / $3.00
Fixed cost = 90,000 * $3.00 = $270,000
Therefore, Ocean City Kite Company's fixed costs is $270,000.
