Answer:
Yes, that sounds about right
Explanation:
Till the age of retirement, a person's mostly expenses are finished, like growing his children, educate them, get them married, etc. He is left with only few expenses like running the house or meet his personal expenses. So the Social Security and some regular savings would be enough for him to lead a respectable life in the society. Also, his children are settled enough to fulfill his expenses at this point of his life. So there is no necessity to invest in a retirement plan that pays you 80% of your regular income. Social security and savings would be enough for the person.
Answer:
The nominal annual percentage cost of its non-free trade credit, based on a 365-day year is 0.2795%
Explanation:
The computation of the nominal annual percentage is shown below:
= Discount rate ÷ (100 - discount rate) × ({Total number of days ÷ payable days} - discount days)
= 2% ÷ ( 100 - 2%) × (365 days ÷ 65 days - 15 days)
= 2% ÷ (98% × 7.3)
= 2% ÷ 7.154
= 0.2795%
The net purchase amount is irrelevant. hence, this part is ignored
Answer:
$6,000
Explanation:
A deductible is the amount Conor has to pay before his medical bills and prescriptions start getting coverage from his insurance.
Step 1: 10,000 - 2,000 = 8,000
A co-pay is a fixed amount the insured has to pay for certain medical services.
Step 2: 20% of 8,000 or 0.20 times 8,000 = 1,600
Step 3: add $2,000 (the deductible you have to pay) and $1,600 (the co-pay)
Total amount that Conor will have to pay for the hospital: $3,600
Explanation:
The free enterprise system is one influenced by the market, which will determine all economic variables, such as price, products and services, and is a system independent of government control to function.
Therefore, it is correct to state that in a free enterprise system, the offer and demand of the consumer for a product or service that will be the determinant of the success or failure of an organization.
As an example of an entrepreneur, we can mention Steve Jobs, who created one of the largest technology companies in the world, Apple. The free enterprise system was one of the reasons for Apple to succeed in becoming one of the most valued companies in the world, due to the fact that it brought innovative products to the market that became examples of products of value to consumers, which made company to grow and become so successful in the market. If the company operated in a government-controlled market, it would probably have to follow specific rules and restrictions for the production of its products that could limit the company, and its performance could be restricted and not as innovative as the company in the market, which is one of the reasons why it achieved success.
