First, you have to calculate the amount of tuition when the student reaches age 18. Do this by multiplying $11,000 by 1.07 each year from age 12 until it reaches age 18. Thus, 7 times.
At age 18: 16,508
At age 19: 17,664
At age 20: 18,900
At age 21: 20,223
Then, we use this formula:
A = F { i/{[(1+i)^n] - 1}}
where A is the monthly deposit each year, F is the half amount of the tuition each year illustrated in the first part of this solution, n is the number of years lapsed.
At age 18:
A = (16508/2) { 0.04/{[(1+0.04)^6] - 1}} = $1,244.389 deposit for the 1st year
Ate age 19
A = (17664/2) { 0.04/{[(1+0.04)^7] = $1,118 deposit for the 2nd year
At age 20:
A = (18900/2) { 0.04/{[(1+0.04)^8] = $1,025 deposit for the 3rd year
At age 21:
A = (18900/2) { 0.04/{[(1+0.04)^8] = $955 deposit for the 4th year
Answer:
they promote there company by advertising the product making commercial
Answer:
a) Head sets - perfect competition
b) Smart phones - monopolistic competition
c) Cellular telephone service - oligopoly
d) Cell phone applications - monopolistic competition
Explanation:
The following definitions explain the categorisation of competition:
- Perfect competition is when many firms sell similar products, no firm or buyer has control of market price. The barriers to entry are low. This is characterised by headsets
- The market for smart phones is monopolistic competition because advertisement is used to create product differentiation with the aim of gaining better market control
- Oligopoly is characterised by few firms controlling the market and keeping each other from dominating the market. This is they type of competition for cellular telephone service.
- Monopolistic competition is one where many firms produce dirlfferentiated products that are not substitutes. This is shown in market for cell phone applications
Answer:
The correct answer is option b.
Explanation:
The business cycle can be defined as the fluctuations in the level of output of goods and services produced in an economy in a year. It is also referred to as the trade cycle.
The business cycle consists of several stages such as recession, depression, expansion, boom or peak, recovery, etc.
The output level tends to fluctuate around its long term trend.
