Yes asking questions is good :)
Answer:
0.2840 or 28.40%
Explanation:
The formula for EAR= (1 + i/n)^n - 1
Where i= stated interest rate
n= number of compounding periods
In this case since the interest he paid is 1 cent, to convert it into percentage, we divide it by the dollar and multiply by 100
Note: 100 cent = 1 dollar
Therefore 4 dollars= 400 cents
To get the Interest rates= 1/400 x 100
= 0.25
n= 365 since we are computing daily
(1 + 0.25/365)^365 - 1
(1 + 0.000685)^365 - 1
(1.000685)^365 - 1
1.2840 - 1
0.2840 or 28.40%.
Answer:
less than zero
Explanation:
According to the law of demand, an increase in price reflects in a decrease in demad. That is, price and demand are inversely proportional. Since ax is associated with the price of good X, it must be negative to accurately describe that behavior in the demand function.
Thus, ax will be: less than zero.
Answer:
FV= $5,864.86
Explanation:
Giving the following information:
Annual deposit= $200 at the beginning
Number of periods= 15 years
Interest rate= 8%
<u>To calculate the future value, we need to use the following formula:</u>
FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}
A= annual deposit
FV= {200*[(1.08^15) - 1]}/0.08 + {[(200*(1.08^15)] - 200}
FV= 5,430.42 + 434.44
FV= $5,864.86
Answer: <em>customers' lack of money
</em>
Explanation:
Here, in this particular case we can state that the restaurateur Andrew who owns and run a popular contemporary but expensive Chinese restaurant is addressing the fact that customer's lack money. The fact in this particular case is that consumers are willing to pay a modest amounts for the small amount of food being served while in contrast not paying for the "atmosphere" of his restaurant.
