Answer:
11,600 miles
Explanation:
Average = (10,000+12,500+8000+14000+13500)/5
Average= 58,000/5
= 11, 6000
An average is the result obtained by adding together several amounts and then dividing this total by the number of amounts.
The answer is 17 years and 6 months.
Let P=$289,416, A=$2,500, r=0.046 (4.6%), m=12 (monthly compounding) where i = r/m, and n be the time until you run out of money. Then, i=0.046/12 = 0.038333.Using the equation P = A + A{[1-(1+i)^(1-mn)]/i}, we can derive an equation for n.
Therefore, n = (1/m)*{1-[(log(1-(i*(P-A)/A)))/log(1+i)]}. This will give n = 17.516 years or approximately 17 years and 6 months.
An increase in a consumer's income will increase the slope of the consumer's budget line.
<h3>
What is a budget line?</h3>
- The budget line sometimes referred to as the budget restriction, displays every combination of two commodities that a client is able to afford at the current market pricing and within their specific income range.
- The budget line is a graphical representation of every combination of the two commodities that may be purchased using the given income and cost, with the price of each combination being equal to the customer's monetary earnings.
- It's critical to remember that the slope of the budget line corresponds to the cost-to-volume ratio of two commodities.
- The slope of the budgetary restriction is very significant.
<h3>Increase in the slope of the budget line:</h3>
- A rise in income allows consumers to purchase more of both goods, which causes the budget line to shift outward, or to the right (slope increases).
Therefore, an increase in a consumer's income will increase the slope of the consumer's budget line.
Know more about the slope of the budget line here:
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A bear market is a market where the share prices are falling. The prices are falling because of a decrease in the economic growth or even a sudden natural disaster occurring or even changes in the economic variables, even exchange rate fluctuations.
Answer:
The definition of the terms have been explained in the attachment.
Explanation: