Answer:
18 years
Explanation:
Given that;
P= $23,000
A= $76,300
r= 6.7%
From
A = P(1 + r/100)^n
76,300 = 23,000 (1 + 0.067)^n
3.3 = (1.067)^n
Taking logarithm of both sides
log 3.3 = log (1.067)^n
log 3.3 = nlog(1.067)
n= log 3.3/log 1.067
n= 0.5185/0.0282
n= 18 years ( to the nearest year)
Answer:
(B) 40%
Explanation:
↓Q / ΔPrice = Price-elasicity
The price elasticity is the relationship between a change in price with the quantity demanded of a certain good assuming, other factor remains constant.
ΔPrice = (P0 - P1)/((P0 + P1)/2) = (2 - 6)/((2+6)/2) = 4/4 = 1
We know that price elasticity is 0.4
Now we can solve for the change in the quantity demanded:
↓Q/ 1 = 0.4
↓Q = 0.4 x 1 = 0.40 = 40%
I think it’s D I don’t know if I’m wrong or right but D sounds right
United States’ savings rate is only around 10%, much lower than any other countries. There's some reasoning behind it. In fact, countries with the highest savings rates weren’t necessarily the countries with the highest GDPs. GDP os US is $56,300 per capita but their household savings rate of just 4.9%. Also, in Hungary their GDP is $26,000 while their savings rate of 9.0%. This implies that the money they have isn't place on one nest only or put to savings, rather allocated to a much more important sectors. We should not forget taking into account their purchasing power parity, the rate a currency would have to be converted into another to buy the same amount of goods and services of the country.
