<span>Due to the defect, which was something either caused by or for which the company would be solely responsible for, Brandon suffered some sort of damage or harm. Weather it was physically, emotionally or financially, these are all ways the damaged product harmed the customer.</span>
Answer:
(A)Fv= $864.2
(B) Fv= $1302.05
(C) Fv= $2003.4
(D) Fv= $96817.21
Explanation:
Giving the following information:
Initial investment= $550
We will use the final value formula:
FV=Present value*(1+i)^n
(A) 9% compounded annually for 5 years.
Fv= 550*(1.09)^5=$864.2
(B) 9% compounded semiannually for 5 years.
Fv= 550*(1.09)^10= $1302.05
(C) 9% compounded quarterly for 5 years.
Fv= 550*(1.09)^15= $2003.4
(D) 9% compounded monthly for 5 years.
Fv= 550*(1.09)^60=$96817.21
Answer:
C. The longer you use credit responsibly, the higher your
credit score will be.
Explanation:
A credit card allows its user to access a short term loan. Every payment made via a credit card is considered a loan. The loan attracts interest monthly. Defaulting on credit card payments is similar to defaulting on any other loan type.
Responsible use of a credit card entails using it only when necessary. It means making prompt payments to clear monthly bills.
Credit card history is important information when tabulating an individual's credit score. Anyone who uses their credit card responsibly ends up with a good credit score.
Answer:
This question requires us to tell the time in which investment of $ 5000 will double based on a 6%, 12% and 18% interest rate. Time period (n) based on a 6%, 12% and 18% interest rate is calculated below.
(FV =PV (1+i)^n)
6%
10,000 = 5,000 (1.06)^n
Log 2 = n log 1.06
n = 11.9 years
12%
10,000 = 5,000 (1.12)^n
Log 2 = n log 1.12
n = 6.1 years
18%
10,000 = 5,000 (1.12)^n
Log 2 = n log 1.18
n = 4.2 years
