A property title search firm is contemplating using online software to increase the productivity of the researcher performing th
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Answer:
Given:
Amount = $5000
Tenure = 5 years.
Future value =
where
n is number of periods
r is rate per period.
(a) 6% compounded annually.
Interest is compounded annually
No of periods in 5 years = 5
Future value = 5000 = 5000 × 1.33823 = $6691.15
(b) 8% compounded annually
Interest is compounded annually
No of periods in 5 years = 5
Future value =5000 = 5000×1.46933 = 7346.65
(c) 10% compounded annually
Interest is compounded annually
No of periods in 5 years = 5
Future value = 5000 = 5000×1.61051 = $8052.55
(d) 10% compounded semiannually
Interest is compounded semiannually
No of periods in 5 years is 5*2 = 10
Rate per period = 10÷2 = 5%
Future value =5000 = 5000×1.62889 = $8144.45
(e) 10% compounded quarterly
Interest is compounded annually
∴No of periods in 5 years = 5×4 = 20
Rate per period = 10÷4 = 2.5
Future value = 5000 = 5000×1.63862 = $8193.10
Answer:
4. The demand for gasoline-powered automobiles would increase and the equilibrium price of gasoline-powered automobiles would increase.
Explanation:
Substitute goods are goods that can be used in place of each other.
If the price of electric automobiles rises, the automobile becomes more expensive for consumers. Consumers would reduce the quantity demanded of the electric automobile and shift its demand to gas powered automobiles.
As a result, the demand for gas automobiles increases and the equilibrium price would increase too.
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