Answer:
Annual deposit= $4,143.66
Explanation:
Giving the following information:
You need to have saved $1,000,000 in 30 years. You can invest in a retirement account that guarantees you a 12% annual return.
To calculate the annual deposit needed to achieve the objective, we need to use the following formula:
FV= {A*[(1+i)^n-1]}/i
A= annual deposit
Isolating A:
A= (FV*i)/{[(1+i)^n]-1}
A= (1,000,000*0.12)/ [(1.12^30)-1]= $4,143.66
Answer:
D. identifying new ways for people to fulfill their wants and needs
Explanation:
Entrepreneurs start new businesses in society. They are quick to spot and identify needs and wants in the market. Entrepreneurs establish businesses to provide solutions to these needs and want at a profit.
Entrepreneurs use their creativity to come up with new and unique products that offer solutions to society's problems. They innovate better products and ways of offering services that are friendly and more cost-effective. Entrepreneurship goes hand-in-hand with creativity and innovation.
Answer: <u>"b. Price is greater than long-run average cost."</u> is NOT characteristic of long-run equilibrium for a perfectly competitive firm.
Explanation: In the long term the company will produce the output level at which long-run average cost is at its minimum.
Where the price is equal to the long-run marginal cost and the long-run average cost.
Answer:
Open-minded thinking.
Explanation:
Open-mindedness thinking can be understood as the willingness of an individual to try new ideas and they are certainly available to listen to other people's views and ideas. Here, Henry is using an open-minded thinking process of decision making, where he is open to listening to other people's ideas and thinking.
Answer:
Average number of customers in a system = 2.25 Customers
Explanation:
Given:
Customers arrive rate (a) = 15 per hour
Customers service rate (b) = 20 per hour
Average number of customers in a system = ?
Computation of average number of customers in a system:
Average number of customers in a system = 2.25 Customers
