Bob has to own his land for 18 years if the price is increasing at the rate of 6% per year.
Given that land was bought by Bob for $16390, the price is increasing at the rate of 6%, price of land today is $46817.
We are required to find the time for which Bob need to own the land so that the price of the land is $46817 today.
Compounding means calculating amount on the principal and the amount added interest.
Rate of increasing the price of land be 6%.
Price when Bob bought the land=$16390.
Price of land today=$46817.
It is like compounding of interest and the sum is calculated as under:
S=P*
In the above equation P is theamount at beginning,r is rate of increasing and n is the number of years.
46817=16390
46817/16390=
=2.8564
=
(Approximately)
From both the sides we will get n=18.
Hence Bob has to own his land for 18 years if the price is increasing at the rate of 6% per year.
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Answer:
2) Percentage of the typical consumer budget spent on the item.
Explanation:
In microeconomics, item weight refers to the money spent on purchasing a specific product with respect of the total money spent in total purchases. Item weight is usually measured as a percent of a specific purchase over the total purchases made by a consumer or household.
The answers are supply and demand.
Answer:
The gross profit margin of Candy Company is 65% (second option)
Explanation:
The gross profit margin is defined as:
Mg = (sales - costs) / price of sales
If for Candy Company the cost are $112,000 and sales $320,000 then the gross profit margin is:
Mg = ($320,000- $112,000) * 100% / $320,000 =
Mg = $208,000 * 100% / $320,000 = 0.65 * 100%
Mg = 0.65 * 100%
Mg = 65%
Answer:
Alcohol is alcohol, and depedning on your weight, even just 2 drinks in your system would be enough for you to be considered impaired. Your friend may feel fine, but after several drinks they are not functioning as well as they should, and will still get in trouble with the police if they get pulled over and are breathalized. Tell your friend that you will drive home; if you both have had drinks, find someone else to drive you or call a taxi. It doesn't matter if it was 1 drink or 6, alcohol is alcohol.
