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zalisa [80]
3 years ago
6

Which of the following statements best defines the term credit according to the text?

Business
1 answer:
polet [3.4K]3 years ago
5 0
<span>B. A loan which is repaid with interest in monthly payments

</span>
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Bob bought some land costing $16,390. today, that same land is valued at $46,817. How long has bob owned this land if the price
faltersainse [42]

Bob has to own his land for 18 years if the price is increasing at the rate of 6% per year.

Given that land was bought by Bob for $16390, the price is increasing at the rate of 6%, price of land today is $46817.

We are required to find the time for which Bob need to own the land so that the price of the land is $46817 today.

Compounding means calculating amount on the principal and the amount added interest.

Rate of increasing the price of land be 6%.

Price when Bob bought the land=$16390.

Price of land today=$46817.

It is like compounding of interest and the sum is calculated as under:

S=P*(1+r)^{n}

In the above equation P is theamount at beginning,r is rate of increasing and n is the number of years.

46817=16390(1+0.06)^{n}

46817/16390=(1.06)^{n}

(1.06)^{n}=2.8564

(1.06)^{n}=(1.06)^{18}  (Approximately)

From both the sides we will get n=18.

Hence Bob has to own his land for 18 years if the price is increasing at the rate of 6% per year.

Learn more about compounding at brainly.com/question/2449900

#SPJ4

4 0
1 year ago
While a mechanic works on his car, a taxi driver takes Robert to his job as a warehouse laborer. At the end of his shift, he mak
Orlov [11]

They have high school degrees with some or no college experience.

Explanation:

  • The workers in Transportation and Logistics careers usually have high school degrees with some or no college experience.
  • Although they do not need a degree or diploma, they usually have a high school degree.
  • Students in transportation, distribution and logistics learn and practice skills  for various post-high school education and training opportunities.
  • Career and technical education programs provides career oriented hands on learning pathways

7 0
3 years ago
Read 2 more answers
What is the best advice for negotiating a business deal in a cross-cultural setting? avoid a win/win outcome. conduct transactio
DerKrebs [107]

In this case, you would want to avoid a win-lose situation.

1. You would want a win-win (where both parties feel as though they are gaining something from the transaction).

2. You can never go into an international negotiation with the same mentality as you would for in the US. Every culture is different and you should be aware of those differences.

3. You should not move too quickly between subjects. You should always ensure all parties understand and agree, which may take time.

7 0
3 years ago
A law enforcement agent is in charge of getting a writing sample from an uncooperative suspect. the agent puts the suspect in a
zmey [24]
According to my opinion, what the agent did wrong is that he asked him to write the answers of the questions two more times because when we write again and again the same thing our handwriting changes.And what the agent did right is that he influenced him to compose all that he says as he directs the data to the suspect because in this way they can see whether the handwriting matches it or not.
5 0
3 years ago
The weighted average cost of capital is​ ________. A. the cost of capital for the firm as a whole B. made up of three financing​
Alona [7]

Answer:

The answer is D. All of the above

Explanation:

The Capital structure of most companies comprise equity, debt and/or preference shares. All these that made up capital structure has cost or let's say return. We have cost of capital, cost of debt, cost of preference shares.

Therefore, weighted average cost of capital is average of the cost of each financing​ component(cost of capital, cost of debt and cost of preference shares), weighted by the proportion of each component

All the options relates to the weighted average cost of capital(WACC).

5 0
2 years ago
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