What is it called when people assume you're a certain way, and you act the part?

In economics , the what is it called when individuals focus on perfecting a limited range of tasks, so as to become experts in t

Korvikt [17]

Specialisation is when individuals focus on perfecting a limited range of tasks so as to become experts in that particular field

8 0

3 years ago

Assuming a 12% annual interest rate, determine the present value of a five-period annual annuity of $5,000 under each of the fol

Paraphin [41]

Solution :

Annual payment = $\$ 5000$

1. The rate of interest annually = 12%

Present value $=\$5000 \times \text{PVA of} \ \$1(12\%, 5)$

$=\$5000 \times 3.60478$

= $ 18,023.90

2. The rate of interest annually = 12%

Present value $=\$5000 \times \text{PVAD of} \ \$1(12\%, 5)$

$=\$5000 \times 4.03735$

= $ 20,186.75

3. The rate of interest annually = 12%

The rate of interest quarterly = 3%

Present value = $\$5000 \times \text{PV of} \ \$1(3\%, 4) + \$5000 \times \text{PV of} \ \$1(3\%, 8) +\$5000 \times \text{PV of} \ \$1(3\%, 12)$ $+\$5000 \times \text{PV of} \ \$1(3\%, 16) + \$5000 \times \text{PV of} \ \$1(3\%, 16)$

$= \$5000 \times 0.88849 + \$5000 \times 0.78941 + \$5000 \times 0.70138 + \$5000 \times 0.62317 + \$5000 \times 0.55368$ $=\$ 17,780.65$

4 0

3 years ago

How long does it take to become a millionaire? A $500,000 investment will hit $1 million in 39 years at an annual interest ra

Solnce55 [7]

Answer:

It will take 30.10 year

Explanation:

We have given initial investment $500000

Future value = $ 1 million = $1000000

Rate of interest r = 1.79 %

We have to find the time taken to reach the amount $1000000

We know that future value is equal to $A=P(!+\frac{r}{100})^n$

$1000000=500000(!+\frac{1.79}{100})^n$

$2=(1.0179)^n$

Taking log both side

$log2=nlog1.0179$

n×0.0077 = 0.3010

n = 39.09 year

Now in second case rate of interest

r = 2.34 %

So $1000000=500000(1+\frac{2.34}{100})^n$

$2=(1+\frac{2.34}{100})^n$

$2=1.0234^n$

taking log both side

log 2 = n log 1.0234

n×0.01 = 0.3010

n = 30.10 year

8 0

3 years ago

Which type of visual aid would you use to show changes over time?

son4ous [18]

A plot in Cartesian axes.
This kind of graph has two exes: x (horizontal) and y (vertical). X represents the independent variable, in this case: time. Y represents the dependent variable, which is the one that is changing over time. For example, you can make this graph with temperature along the year. You will usually have higher temperatures in summer, which will be represented in the upper part of the graph, and lower temperatures in winter, which will be represented in the bottom part of the graph. January will be on the left and December will be on the right.

6 0

3 years ago

In which statement(s) are "demand" and "quantity demanded" used correctly? (I) "An increase in the price of tea will reduce the

ryzh [129]

Answer:

The correct answer is letter "A": in both statements I and II.

Explanation:

(I) According to the demand law, <em>if the price of tea increases the quantity demanded of tea will decrease</em>. If the price of tea decreases, the quantity demanded of tea will increase. Quantity demanded and the price has an inversely proportional relationship in the demand law.

(II) When talking about complementary goods like tea and sugar, <em>if the price of tea increases will result in a negative movement along the demand curve of tea and will cause the demand curve of sugar to move inwards. In such a scenario, the demand for each good will be reduced.</em>

8 0

3 years ago