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Yuliya22 [10]
3 years ago
6

Assume you have $2,000 in a savings account at the beginning of the year and the price level is equal to 100. If the price level

is equal to 120 at the end of the year, the real value of your savings is closest to $1,667. $1,880. $2,120. $2,400.
Business
1 answer:
leva [86]3 years ago
5 0

Answer:

$1,667

Explanation:

Given that,

Savings account at the beginning of the year = $2,000

Price level at the beginning of the year = 100

Price level at the end of the year = 120

Price level increases from 100 to 120

Therefore, what was worth $120 earlier, is not worth only $100.

Hence, $120 at the beginning of the year is worth = $100 at the end of the year

$1 at the beginning of the year is worth = ($100 ÷ $120) at the end of the year

Savings of $2,000 at the beginning of the year is worth:

= ($100 ÷ $120) × $2,000

= 0.833 × $2,000

= $1,667

Therefore, the real value of the savings is $1,667.

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Trade promotion organizations in a country and Global organizations for international trade. These important auxiliaries ensure a smooth flow of goods from producers to the consumers.

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c. Dr. Input’s courtesy adjustment: $50

<h3>What is the courtesy adjustment?</h3>

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<h3>Data and Calculations:</h3>

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#SPJ1

<h3>Question Completion:</h3>

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