I think its called an investment.
Answer:
$1,194.05
Explanation:
The applicable formula is A = P x ( 1+ r) ^ n
Where A is the future amount
P is principal amount $1000
r is 6% per year or 0.06
n= time in years; 3 years
Since interest is compounded semi-annually, r will be 0.06 /2 = 0.03
n will be 3 years /2 = 6 periods
A = $1000 x ( 1 + 0.03) ^ 6
A = $1000 x 1.194052
A=$1,194.05
Answer: $23,888
Explanation:
The cost today for a freshman at a public university is $19,500.
Inflation is at 7% a year and the period is 3 years from now. It is best to use a future value formula:
= Fees * ( 1 + rate) ^ number of years
= 19,500 * ( 1 + 7%)³
= 19,500 * 1.225043
= $23,888
Answer:
In plain terms, the consumer motivation is the set of cognitive factors driving a customer's determination to make a single sale. The payment is the ultimate product of a "Purchaser's Process" scheme, a three-stage mechanism consisting of:
1.Awareness.
2.Interest.
Determination