Well there are basically three types of budgets such as balanced budget, surplus budget and deficit budget
Explanation:
Given that $4800 is invested at the rate of 10.8% in 20 years, the future value of the money will be:
A=P(1+r/100)^n
where:
A=future amount
P=principle=$4800
r=rate=10.8%
n=time=20 years;
Thus
A=4800(1+10.8/100)^20
A=$4800(1.108)^20
A=$37,328.15
Thus the amount after 20 years will be $37,328.15
Answer:
The answer is D, the grievance is brought before a court which decides the case.
Explanation:
A grievance procedure is a process adopted within an organisation for the purpose of resolving conflicts. Most of the time, it is meant to resolve conflict between individuals of lower cadre or hierarchy in an organisation and people in the top management position.
There are about six different procedure in the grievance process and taking a grievance to the court to decide on a case is not one of them. However, it is worthy to note that when all necessary grievance procedure have been utilized and there seem not to be a resolution in sight, a third part arbitrator in invited into the scene which mostly is between high management personnel.
Answer:
Annual deposit = $326,265.88
Explanation:
<em>The amount to be set aside annually to accumulate $2.5 million in 7 years time ca n be worked out using the future value of an ordinary annuity formula.</em>
The formula is given as follows:
FV = A×( (1+r)^n - 1)/r).
A= FV/ ((1+r)^n - 1)/r
FV - Future value
A- annual deposit
n- number of years
r- rate of return
FV - $2.5 million
A- ?
n- 7
A=2,500,000 ÷ (1.03^7 - 1)/0.03 = 326,265.88
Annual deposit = $326,265.88
