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r-ruslan [8.4K]
3 years ago
9

Assume you have $2,000 in a savings account at the beginning of the year and the price level is equal to 100. If the price level

is equal to 120 at the end of the year, the real value of your savings is closest to:________
Business
1 answer:
SVEN [57.7K]3 years ago
6 0

Answer:

$1,667.67

Explanation:

Given:

Balance in savings account at the beginning of the year = $2,000

Price level at the beginning of the year = 100

Price level at the end of the year = 120

Anything that is worth $120 in the beginning of the year is worth $100 at the end of the year.

Anything worth $1 in the beginning is worth 100/120 at the end.

So, $2,000 is worth \frac{100}{120}\times2,000 = $1,667.67 at the end of the year.

Real value of savings is close to $1,667.67.

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Answer:

Explanation:price of the commodity

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income if the consumer

taste and preference

exceptation of change of price

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Explanation:

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The marketing concept is a philosophy that a business organization should employ to satisfy customers' needs while achieving the
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Explanation:

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3 0
2 years ago
What do inflation rates measure?
My name is Ann [436]

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Explanation:

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6 0
3 years ago
Arthur, age 19, is a full-time student at Gordon College and is a candidate for a bachelor's degree. During 2020, he received th
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Answer:

$500

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