Answer: 9.20
Explanation:
In finance there is a rule for calculating this called 'The Rule of 70'.
With The Rule of 70, you are able to calculate the amount of time it will take an investment to double if you divide 70 by the growth rate of the investment.
In this scenario, the investment is your salary and the growth rate is 7.61% pee year.
The amount of time it will take to double is therefore,
= 70 / 7.61
= 9.19842312746
= 9.20 years.
It will take 9.20 years to double.
Answer:
Hajj and Umrah packages which are not
Answer: $17.28
Explanation:
6 month free concession in first year drops rent to:
= 20 / 2
= $10
Effective rent = [Present value of Year 1 rent + Present value of Year 2 rent + Present value of Year 3 rent ] / [ 1 - (1 / (1 + rate)^ number of years) / rate]
= [(10 / (1 + 10%) ) + (21 / (1 + 10%)²) + (22 / (1 + 10%)³)] * [1 - (1 / (1 + 10%)³/ 10%)]
= (9.09 + 17.355 + 16.5289) / 2.48685
= $17.28
Answer:
The level at which an individual is viewed by society is called Social Status. ... It is the measure of worth or the position that the 'person holds in society'.
Explanation:
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Answer:
$ 1,781.53
Explanation:
The future value of the 5-year CD can be determined by using the future value formula stated below:
FV=PV*(1+r)^n
FV is the future value which is expected future amount after 5 years
PV is the initial amount used in purchasing the CD i.e $1500
r is the rate of return on the CD on an annual basis which is 3.5%
n is the number of years the investment would last which is 5 years
FV=$1500*(1+3.5%)^5
FV=$1500*1.187686306
FV=$ 1,781.53