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Virty [35]
3 years ago
15

You have just inherited $560,000. You plan to save this money and continue to live off the money that you are earning in your cu

rrent job. If you can invest the money in a bond that pays 5.46 percent interest annually, how long will it be before your inheritance is worth $1 million? (If you solve this problem with algebra round intermediate calculations to 5 decimal places, in all cases round your final answer to 2 decimal places, e.g. 8.72.)
Business
1 answer:
suter [353]3 years ago
6 0

Answer:

10.64 years

Explanation:

To find the number of years , use this formula :

FV / PV = (1 + r) ^n

FV = Future value  = $1 million

P = Present value  = $560,000.

R = interest rate  = 5.6%

N = number of years  

$1,000,000 / $560,000 = (1.056)^n

1.785714  = (1.056)^n

Find the In of both sides

n = 10.64 years

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yes they were

Explanation:

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2 years ago
Throughout human history we know that Group of answer choices all countries will eventually return to very low levels of real GD
kkurt [141]

Answer:

not until the early 19th century were a few countries able to establish sustained long-run economic growth.

Explanation:

Industrial revolution (industrialization) can be defined as a period of significant change in economic and social manufacturing process characterized by the use of handicrafts and agrarian methods to the use of power-driven equipments and machines. Basically, the industrial revolution began in Great Britain (England) between 1760 to 1840 and eventually spread across other countries of the world.

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Some examples of such inanimate sources are Steam plants, Nuclear plants, Wind etc.

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3 0
2 years ago
The Fed wants to fight inflation. What action should they take regarding the discount rate, the RR, or open market operations?
Sergio039 [100]

Answer: See explanation

Explanation:

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Also, the Fed can sell bond to the public, thereby taking in the cash in the economy and reducing the money supply thus reducing inflation. Lastly, the Fed can also increase the reserve ratio for banks. When this is done, there'll be lesser money available in the economy.

4 0
3 years ago
In the 2-factor, 2-good Heckscher-Ohlin model, the country with a relative abundance of ________ will have a production possibil
Nat2105 [25]

Answer:

The answer to this question is  (c) Labour, Labour intensive

In the 2-factor, 2-good Heckscher-Ohlin model, the country with a relative abundance of labour will have a production possibility frontier that is biased toward production of the labour intensive good

Explanation:

The Heckscher-Ohlin model is an economic theory that proposes that countries export what they can most efficiently and plentifully produce.  

The model emphasizes the export of goods requiring factors of production that a country has in abundance. It also emphasizes the import of goods that a nation cannot produce as efficiently. It takes the position that countries should ideally export materials and resources of which they have an excess, while proportionately importing those resources they need.

Therefore in regard to the question above,

In the 2-factor, 2-good Heckscher-Ohlin model, the country with a relative abundance of labour will have a production possibility frontier that is biased toward production of the labour intensive good  

Hence the answer is the third option, Labour, Labour intensive

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3 years ago
Each of the following is an advantage of using cash EXCEPT:
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C. less painful parting with cash
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