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Shalnov [3]
3 years ago
9

Which of the following situations is the demand most likely to be reduced

Business
1 answer:
Kay [80]3 years ago
3 0

Answer:

The higher the price, the higher the producer's profits. Your needs and wants are unlimited. If heavy competition for a product keeps its price low, businesses will be very motivated to offer the product for sale.

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A high-interest savings account pays 5. 5% interest compounded annually. If $300 is deposited initially and again at the first o
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\rm A = P(1 + \dfrac{r}{100})^t where A is the amount received after compounding, P is the principal, r is the rate of interest and t is the tenure.

<h3>Solution:</h3>

Given:

Annual interest rate(r) is 5.5%

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Tenure is(t) 10 years

On substituting the values in the formula \rm A = P(1 + \dfrac{r}{100})^t

The amount received after compounding at the end of 1 year will be:

\rm A = 300(1 + \dfrac{5.5}{100})^1\\&#10;\\&#10;A=300(1.055)\\&#10;\\&#10;A=\$316.5

Similarly, the amount to be received after 2 years will be:

316.5+316.5(1.055)

The amount received after 10 years will be:

316.5+316.5(1.055)+316.5(1.055)^2+.......  upto 10 years

Therefore the summation that represents the money in account after 10 years is:

\begin{aligned}\sum_{10}^{n=1}316.5(1.055)^{n-1} \end{aligned}

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brainly.com/question/25857212

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