<span>Interest rate is directly proportional to time. An interest rate is the amount of money due per period or a proportion of the amount borrowed or deposited. The total interest depends on the principal sum and the length of time over which it is lent or deposited. Therefore, the value of money will depend on interest rate and time. The longer time of debt or bank deposit, the higher interest rate.</span>
Answer:
save each year to reach their goal is $2152.48
save each year to reach their new goal is $2869.97
Explanation:
given data
amount saved = 120,000
Rate of Interest earned = 12.0 %
time = 18th birthday
solution
we consider here annual savings is = P
we use here formula for future value of annuity that is
future value of annuity = P ×
................1
here r is rate and n is time period
put her value
$120,000 = P ×
solve we get P = $2152.48
save each year to reach their goal is $2152.48
and
for $160,000 at 18th Birthday
we consider here annual savings = P
so from equation 1
we put here value
future value of annuity = P ×
$160,000 = P ×
solve and we get P = $2869.97
save each year to reach their new goal is $2869.97
Answer:
d. $889
Explanation:
The computation of the deposit amount is shown below:
Principal = Amount ÷ (1 + interest rate)^number of years
= $1,000 ÷ (1 + 4%)^3 years
= $1,000 ÷ 1.124864
= $889
Simply we divide the amount by the interest rate and the number of years so that the exact value can arrive
This is actually false. The effect is quite the opposite, things are really slowed down but in return you get safety and security and unbiased procedures. That's why you need a lot of various paperwork for example when you get a driver's license, instead of they just deciding to give it to you. Bureaucracy prevents things like corruption and personal bias.
The statement above is FALSE.
Loews conglomeration is into many businesses including hotels, insurance, watches, oil, gas, tobacco, etc. The diversification strategy of the company is to buy up firms that are in financial mess, turn them into profitable ventures and then sell them at a premium. They also diversified by investing into new business fields.