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Nataly [62]
3 years ago
9

Karl Yates needs ​$24,000 to pay for the remodeling work on his house. A contractor agrees to do the work in 10 months. How much

should Karl deposit at 7.4​% in order to accumulate the ​$24,000 by that​ time?
Business
1 answer:
vlabodo [156]3 years ago
7 0

Answer:

$22614 needs to be deposited today.

Explanation:

Let x be the amount we will initially invest. The investment will be made for 10 months while the interest rate given here as 7.4% is the annual interest rate.

So,

  • 24000 = x * ( 1 + 0.074 )^10/12
  • 24000 / ( 1 + 0.074)^10/12 = x
  • x = $22613.84 rounded off to $22614

Thus if Karl makes an initial investment of $22614  at 7.4% annual interest rate, then he will be able to withdraw a combined Principal + Interest of $24000 after 10 months.

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Answer:

To no the prices of goods and service and to buy stuff at low prices.

Explanation:

A purely competitive market is a situation where multiplier sellers have homogeneous products. The availability of the information is very important in a purely competitive market in order to decide how many sellers are selling the same product and from where an individual can buy products at low prices. Availability of information means, no seller can earn abnormal profits.

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4 years ago
Based on your understanding of the relationship between relative inflation rates and exchange rates, identify whether the preced
lys-0071 [83]

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2 years ago
1. Assume that the money demand function is (M / P)d = 2,200 – 200r, where r is the interest rate in percent. The money supply M
Wittaler [7]

Answer:

r= 3

Explanation:

Due that the level price does not changed, the first thing that you have to do to find the equilibrium is put the two equations with an equal

Money demand =Supply of money

2,200 – 200 r= 2,000

Now you have to find the value of r and you have to clear the formula and first you have to:

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600 = 200r

As the 200 is multiplying the r you have to pass the 200 to divided the 600

r= (600/200)

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The interest rate is 3%

3 0
3 years ago
Omkara, a furniture manufacturer, contracts with foam gnome for $50,000 worth of foam, which omkara will use for making ten sofa
snow_tiger [21]
In this situation, it would be a breach of contract if G<span>nome would require </span>Omkara<span> to pay a higher price than the agreed price. They have already contracted the price and they both agreed to it. </span>Omkara<span> can enforce her right to the contract claiming that she will only pay the $50000 because it is what they have agreed upon.</span>
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answer:

a: classes you have taken

b: job or volunteer experience

e: software skills

g: leadership skills

4 0
3 years ago
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