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Sindrei [870]
3 years ago
8

Towne Station is saving money to build a new loading platform. Three years ago, they set aside $23,000 for this purpose. Today,

that account is worth $31,406. What rate of interest is Towne Station earning on this investment?
Business
1 answer:
goldenfox [79]3 years ago
6 0

Answer:

Interest rate = 10.94%

Explanation:

The future value is the estimated worth of an investment at a specified time assuming a particular interest rate. The present value is the initial amount invested.

For Towne station the future value of their investment is $31,406, and three years ago they put in $23,000.

To get the interest rate we will use the following formula

Future value= Present value* {(1+ interest rate)^number of years}

31,406= 23,000* {(1+Interest rate)^3}

Interest rate = 0.1094~10.94%

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lidiya [134]

By definition, empirical probability is equal to C. Number of successful trials/Total number of trials.

<h3>What is an empirical probability?</h3>

It should be noted that empirical probability simply means a experimental probability that is based on historical data.

In this case, by definition, empirical probability is equal to the number of successful trials divided by the total number of trials.

Learn more about empirical probability on:

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7 0
2 years ago
A "Buy American" provision in the 2009 stimulus bill would ________ consumer surplus and ________ producer surplus for industrie
Neko [114]

Answer:

The correct answer is decrease; increase.

Explanation:

The "Buy American" law was passed in 1933 and established that the US federal government. UU. You must prioritize the purchase of products manufactured in the country. Under certain circumstances, however, the "Buy American" law may not apply when:

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The "Buy American" law may also not apply if the president of the United States or a delegated authority said it on the grounds of reciprocal agreements with other countries defined in the Law on Trade Agreements, the North American Free Trade Agreement (NAFTA) and the World Trade Organization.

7 0
3 years ago
A good economic theory is best described as one that:: A. Is true. B. Realistically depicts the real world economists are trying
ollegr [7]

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8 0
3 years ago
Suppose that Michelle buys a cappuccino from Paul's Cafe and Bakery for $4.75. Michelle was willing to pay up to $6.75 for the c
miv72 [106K]

Answer:

$2

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lara31 [8.8K]

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