Answer:
Credit is the provision of money or bills, based on a loan agreement between the bank and another party that requires the borrower to carry out the amount of interest in return
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Answer:
Their income after 20 years would be 72,550 dollars.
Explanation:
The income after 20 years can easily de determin by using compounding
formula
Future Value = Present Value (1 + I)^ 20
= 90,000 (1 + 0.03)^ 20
= 162,550 dollars
Income can be determing by subtracting Pv from Fv i.e
Income = 162,550 - 90,000 = 72,550
Calculation on excel sheet
A B C D
1 90,000 1.03 = A1 * 1.03 = C1-A1
2 = D1 1.03 = A2 * 1.03 = C2-A2
20 = D19 1.03 = A20 * 1.03 = A20 - C20
* In work sheet colunm D will show income on investment.
Answer:
Perfectly inelastic, Perfectly elastic
Explanation:
Consumers will pay the full tax that is placed on the sellers of a good if demand is <u>Perfectly inelastic</u> or supply is <u>Perfectly elastic.</u> The reason for this is that the complete tax burden is borne by a perfectly inelastic side and no tax burden falls on the perfectly elastic side of a transaction.
Faisal has provided John an informational support. An informational support is a way of providing an individual any advices or guidance in terms or problems or anything that could be of help to the person. It could be seen above as Faisal has provided him support and guidance by asking him questions and evaluating the problem. It could also be seen that John has been helped by Faisal for his productivity has been improved.