Answer: The given statement is false.
Explanation:
Immigrants give a boost to the average wages of Americans by increasing the overall productivity and help in investment. Immigrant workers are more advanced in skill sets and knowledge which helps the native Americans to improve their productivity. This process has boosted the investment which in turn increased the demand for labor and increased the pressure on improving wages of labor.
Answer:
r = 9.86%
Explanation:
The formula for calculating the future value of an invested amount yielding a compound interest is given by:
where:
FV = future value = $16,000
PV = present value = $10,000
r = interest rate = ?
n = number of compounding period per year = 1
t = time in years = 5
∴
dividing both sides by 10,000
to remove the power of 5, we have to take the 5th root of both sides:
Using your calculator:
1.09856 = 1 + r
∴ r = 1.09856 - 1 = 0.09856
r = 0.0986 = 9.86%
∴ r = 9.86%
5.55 years
I/Y: 8.5
PV: 899000
PMT: -210000
FV:0