Bronn and Jaime make a written contract where Jaime will sell Bronn his armor and sword for $1,200.

Business

1 answer:

satela [25.4K]3 years ago

8 0

Answer: Mirror image rule

Explanation:

It should be noted that the contract formation defenses are fraud, illegality, incapacity, unconscionability, duress and statute of Frauds.

The mirror image rule is not among the defense to the formation of w contract. It implies that an offer should be accepted with no changes made to the offer.

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A couple thinking about retirement decide to put aside $2,100 each year in a savings plan that earns 7% interest. In 10 years th

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Answer:

310,588.5

Explanation:

As is not said we can assume the 2,100 each year to be paid at the end of the year, and the 7% to be used as a compunded anually rate. So let´s first think just about the 2,100, as they are regulary payments, they can be seen as an anuity inmediate, the formula is as follows:

$s_{n}=p*\frac{(1+i)^{n}-1 }{i}$

where sn is the future value of the regular payments, i is the interest rate and n is the number of payments and p is the amount of regular payment so in this particular case we have:

$s_{n}=2,100*\frac{(1+0.07)^{30}-1 }{0.07}$

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So now let´s think on the gift of 29,000 as it is paid on 10 years, there will remain 20 years with an investment rate of 7% compounded anually. so there we have the classic formula of future value

$FV=VP*(1+i)^{n}$

where FV is the future value, PV is the present value, i is the interest rate per period, and n is the number of periods. Again in this particular case we have:

$FV=29,000*(1+0.07)^{20}$