A = P (1 + I)^n
40000 = 5000 (1 + 0.07)^n
(1.07)^n = 40000/5000 = 8
ln(1.07)^n = ln8
nln1.07 = ln8
n = ln8/ln1.07 = 30.7...
The best answer is closest to (d) 30.6 years.
What is the question here
Shamrock Shades operates in mall kiosks throughout the southwestern U.S. Shamrock purchases sunglasses from bulk discounters and sells the sunglasses in the mall kiosks. Shamrock is in the process of budgeting for the coming year and has projected sales of $310,000 for January, $390,000 for February, $550,000 for March, and $590,000 for April. Shamrock's desired ending inventory is 30 percent of the following month's cost of goods sold. Cost of goods sold is expected to be 20 percent of sales. Required: Compute the required purchases for each month of the first quarter (January- March) January February March Required Purchases
By definition, a mortgage is loan that is used to purchase a property. The financial institutions can are designed to offer low interest rates on residential mortgages are commercial banks and loan associations. They often lead against the one-to-four family mortgages.
