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SVEN [57.7K]
2 years ago
15

You have invested $1,000 in an account that promises APY of 3 percent per year. Assuming you leave the original investment and a

ll earned interest in the account, and ignoring taxes, how long will it take to double your money?
Business
1 answer:
ioda2 years ago
4 0

Answer: The answer is<u> 24 years.</u>

<u />

Explanation: For this exercise we can use the rule of 72, this rule is by which investors can estimate how many years it will take for an initial investment to double. If you know the rate of return, you can know the time needed and if you know the time, you can calculate approximately the rate of return.

RULE OF 72 = APY% x NUMBER OF YEARS = 72

If we apply the formula it results =

3 × n = 72

n = \frac{72}{3}

<u>n = 24.</u>

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kykrilka [37]

Answer:

The above statement is true .

Explanation:

It is true , when a company take decision to move its operations out of the country it will affect its employees , owners , suppliers , distributors , even its customers .

It is because, when company move out , the employees working in it loss their jobs . They become jobless. The suppliers loss their customer. The distributor also loss their customer. The customer may like the product of the company and if the company moves out then they do not get their product which they like. The owner may also suffer loss,as its possible that the product do not gain popularity anywhere else . The company may loss its share. It also effect the economy , as a good earning company always serves to a country .

6 0
3 years ago
You have been at fault in your sexond accident in 6 months. Your insurance company is going to increase your annual premium by 2
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Answer:

$1,248

Explanation:

The current premiums are $975, which is equivalent to 100%. The new premium will increase by 28%.

New premiums will be $975% plus 28%, which is equal to 128% of  $975

= $975 x 128/100

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5 0
2 years ago
Read 2 more answers
Why do neoclassical economists tend to put relatively more emphasis on long-term growth than on fighting recession?
Bogdan [553]

Neoclassical economics places a larger focus on providing extra options and <u>improving living standards, </u><u>which are ultimately decided by long-term progress.</u>

As a result, it focuses on long-term growth rather than fighting recessions.

In actuality, neoclassical economics holds that a product's price is mostly influenced by its manufacturing costs. According to neoclassical economics, the primary factor for client decision-making therefore becomes price.

As a result, letting the neoclassical economists concentrate on prices is not the best way to combat the recession. Long-term economic performance is always emphasized by neoclassical economists.

Note that the neoclassical approach to macroeconomics emphasizes the idea that, over time, the economy tends to recover to its potential GDP and natural unemployment rate.

Learn what John Maynard Keynes would recommend to fight the recession: brainly.com/question/25586856


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1 year ago
What were two most challenging educational experiences? Explain why they were challenging
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to me it would actually have to be college course math because im not really good at trigonometry

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3 years ago
1._____________is the difference between earned income and costs. 2. An organization that produces or distributes a good or serv
Anestetic [448]

Answer:

1. Profit

2. Business

Explanation:

      Profit may be defined as the income which is distributed to the owner in the production process of a profitable market. In other words it is the extra revenue generated by the company that is in excess of the money spend as expenses. It is the difference between the earned income and the costs.

        Business is a regular work or occupation or trade of a person. It refers to an organized efforts as well as the activities of any individual to produce the goods and services and sell them for a profit.

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3 years ago
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