Kings code essay business studies

If $1,000 is deposited in a certain bank account and remains in the account along with any accumulated interest, the dollar amou

Naddika [18.5K]

Answer:

The rate is greater than 8%

Explanation:

Given

$\small I = 1,000 \left (\left (1+\frac{r}{100} \right )^{n}-1 \right )$

Missing part of question

$I =210$

$n =2$

Required

Is r > 1

We have:

$\small I = 1,000 \left (\left (1+\frac{r}{100} \right )^{n}-1 \right )$

Substitute values for r and I

$210 = 1,000 \left (\left (1+\frac{r}{100} \right )^{2}-1 \right )$

Divide both sides by 1000

$0.210 = \left (\left (1+\frac{r}{100} \right )^{2}-1 \right )$

Add 1 to both sides

$1.210 = (1+\frac{r}{100} \right ))^{2}$

Take square roots of both sides

$\sqrt{1.210} = 1+\frac{r}{100}$

$1.1 = 1+\frac{r}{100}$

Subtract 1 from both sides

$0.1 = \frac{r}{100}$

Multiply both sides by 100

$r = 10$

$10 > 8$

Hence, the rate is greater than 8%

7 0

2 years ago

How does the business cycle affect consumers? check all that apply.

kiruha [24]

Answer:

The business cycle is crucial for businesses of all kinds because it directly affects demand for their products. Boom: high levels of consumer spending, business confidence, profits and investment. Prices and costs also tend to rise faster. Unemployment tends to be low as growth in the economy creates new jobs.

5 0

2 years ago

A red sleeveless dress has been a fast seller at a clothing store. Which of these might raise the price of the dress? A.A change

grigory [225]

Correct answer choice is:

D. A reduction in the number of dresses available from the manufacturer.

Explanation:

As per the law of supply and demand, a product tends to experience a rise in costs if the availability is faded. When the availability is faded, the merchandise becomes a lot more limited and provides the vendor additional power to extend the worth if the purchasers wish to accumulate it.

8 0

3 years ago

Read 2 more answers

Zeus wanted to convey Mount Olympus to Artemis, Ares, Aphrodite, and Athena in equal shares. On July 1, he saw Artemis, Aphrodit

dsp73

Answer:

Joint Tenancy

Explanation:

Each tenant was given an equal share.

The conveyance deed was completed on a specific date passing all the land fairly to all tenants.

The Hera, Aphrodite, Athena and Ares also bear the title of Mutual Tenancy as Zeus transmitted Mount Olympus to them.

Therefore the correct option is Joint Tenancy and the same is to be considered

3 0

3 years ago

________________ invested or made loans with 95 percent of the deposits that were being held..

Over [174]

Answer:

(European) goldsmiths

Explanation:

European goldsmiths (Italian goldsmiths were the first) formulated a principle that only 5% of deposits were needed in reserve at any particular time, therefore they could lend 95% of the gold they held in deposit.

Goldsmiths would rent space in their vaults that allowed other people to keep their gold in a safe place. That led to transactions were notes indicating the amount of gold deposited would be traded instead of trading gold itself.

Eventually goldsmiths discovered that they could trade (lend) more money than the amount of gold they held in deposits, inventing fractional reserve banking.

4 0

3 years ago