The correct relevant amount of time taken by investment of $5000 to become $6000 will be 2.612 years. So the correct option that matches the quoted statement is D.
Compound Interest formula will be applied to calculate such investment to achieve the desired amount for the purpose of payment of down-payment of the car.
- Compound Interest is basically referred to as the interest over the accrued interest achieved over such time frame over the top of interest received on principal amount of investment.
- The formula of compound interest compounded monthly is as given below,
- Using the formula we can say that we require an interest of $1000 so that the amount becomes $6000. We can use the formula and put the values as under.
- This can also be written as,
- So we can say that it takes 2.612 years to make such investment into $6000 at the interest rate of 7% which is compounded on a monthly basis.
Hence, the correct option is C is that it will take 2.612 years to get returns as $6000 over such investment at the interest rate of 7 percent per year.
To know more about compound interest, click the link below.
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Answer:
A. True
Explanation:
The current ratio shows a relationship between the current assets and the current liabilities
In mathematically,
Current ratio = Total Current assets ÷ total current liabilities
where,
The current assets = Cash and cash equivalents + Short-term investments + Accounts and notes receivable + Inventories + Prepaid expenses and other current assets
And, current liabilities would be
= Short-term obligations + Accounts payable
This current ratio is always expressed in times plus its reflects the liquidity of the business organization
1. List Needs n Wants with explanation
Need (act every human only got 3 needs - clothes, shelter, food n drink) but due following the era ; here is my personal thought
- clothes ( not more or less, just to keep me warm n protect my body)
- foods ( give energy to keep us productive for working out the day)
- home (for shelter from rain, sunny hot day and to sleep in privacy)
- phone (to make sure we haven’t missed anything happening out there and for communicate)
- money (so that all the needs can be fulfilled)
- shoe (protect feet from outdoor floor, tar etc.)
- education ( either paid or unpaid by own research online, books etc. cus world need more peoples with brain)
- news ( to get updated on what’s happening on earth or out. Inc online news, formal or informal)
- mask (due to new norm)
- goals ( dream as high as the sky, atleast when u fall u would falling among the stars or less on top of the mountain)
- air (nobody lives without it)
Want
- Car (to move from place to place faster)
- internet •esp wifi (to get stay connected with information and communicate more easily with people online)
- Starbuck coffee (normal coffee is fine tho, but Starbucks is win)
- Laptop (to do work and easier to join class/meeting online due to we got a lots of WFH nowadays)
- Air-cond ( to sleep soundly and extra comfort to stay at home )
- TV ( for entertainment and news )
- Fridge (to keep foods n beverages fresh and cool)
- Make up (to build self confidence and cover flaws)
- vacuum cleaner ( to sweep floor or wall easily and fast)
-air fryer ( shorten my cooking time and no sweat)
2. Why
Because i still can live my life without my „wants“ list fulfilled. I can use public transport instead of buying car which will give me more commitments to commit in. While for internet, i can read books in library or use free access internet provides to gather n gain informations instead of pay my own monthly internet bills etc.