Answer:
1. Jake can easily determine that the price of the computer is more than the price of the vacation. ⇒ UNIT OF ACCOUNT
2. Jake has $1,574 in his checking account. ⇒ STORE OF VALUE
3. Jake writes a check for $1,299. ⇒ MEDIUM OF EXCHANGE
Explanation:
The four functions of money are:
- unit of account: since money is a common denominator, it helps to assign value to different goods and services.
- store of value: you can save money in order to purchase gods and services in the future.
- medium of exchange: you can purchase and sell goods and services using. money
- standard of deferred payment: money allows loans that require future payments of both principal and interest.
Answer:
a.Attending a movie
Explanation:
The opportunity cost is the cost or value or the item foregone. That is way opportunity cost is also known as alternative foregone.
It is also known as the real cost. When the wants are listed in a scale of preference in the order of priority, the limited resources is used to satisfy the first item on the list while the next unfulfilled want is the opportunity cost.
Therefore, for John, the opportunity cost is attending the movie, option a.
Answer: Equity funds
Explanation: This type of mutual fund invest in stocks,the risk of losing your investment is high in this type of mutual fund,these funds are usually expected to grow faster than fixed income funds and money market funds.
There are different types of Equity funds which includes mid-income stocks,value stocks,high-cap stocks,growth stocks and income stocks.
The potential for Dollar appreciation is high with these types of stocks with predictable source of dividend.
Answer:
Yes they offer no fee but then they want payed for a small fee....... Aaaa business this days
The compound interest formula is:

Where:
A is the amount you will have.
P is the money you are investing.
r: is the interest rate (in decimals)
n: number of times the interest is compounded per year
t: time (in years)
The first thing is converting the rate from percentage to decimal:

Since the interest is compounded every month and a year has 12 months n=12.
Now we can replace the values in our formula:

We can simplify the exponents to get:

Finally, we can use our calculator to get 288463.33
After 18 your balance in your bank account will be $288463.33