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Brrunno [24]
3 years ago
15

Upon graduating from college, you make an annual salary of $58,381. You set a goal to double it in the future. If your salary in

creases at an average annual rate of 7.61 percent, how long will it take to reach your goal? Round the answer to two decimal places.
Business
1 answer:
Fynjy0 [20]3 years ago
7 0

Answer: 9.20

Explanation:

In finance there is a rule for calculating this called 'The Rule of 70'.

With The Rule of 70, you are able to calculate the amount of time it will take an investment to double if you divide 70 by the growth rate of the investment.

In this scenario, the investment is your salary and the growth rate is 7.61% pee year.

The amount of time it will take to double is therefore,

= 70 / 7.61

= 9.19842312746

= 9.20 years.

It will take 9.20 years to double.

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According to the invisible hand concept, the best way for a society to encourage the creation of jobs and the production of the
shtirl [24]

Answer:

The correct answer is "Allow entrepreneurs personal freedom to follow their self-interest"

Explanation:

According to the invisible hand concept, the best way for a society to encourage the creation of jobs and the production of the products most wanted by consumers would be to allow entrepreneurs personal freedom to follow their self interest.

4 0
3 years ago
At the beginning of the year (January 1), Buffalo Drilling has $12,000 of common stock outstanding and retained earnings of $7,1
Mrrafil [7]

Answer:

                                Statement of stockholders' equity

                              at the end of the year (December 31)

                                     <u>Common Stock</u>        <u>Retained Earning</u>       <u>Total</u>

Opening Balance              $12,000                       $7,100               $19,100

Income for the year                                                $7400              $7400

Dividend Paid                                                        ($2,100)             ($2,100)

Common stock issuance  <u> $6,900  </u>                  <u>                 </u>           <u> $6900  </u>

End of the year Balance    $18,900                    $12,400             $31300

3 0
3 years ago
You expect KT Industries (KTI) will have earnings per share of $5 this year and expect that they will pay out $1.25 of these ear
sleet_krkn [62]

Answer:

9.75%

Explanation:

EPS = Earning per share = $5

DPS = Dividend per share  $1.25

ROI = return on investment = 13%, or 0.13

RR = Retention rate = (EPS - DPS)/EPS = ($5 - $1.25)/$5 = 0.75, or 75%

Growth = RR * ROI = 13% * 75% = 9.75%

Therefore, the expected growth rate for KTI's dividend is closest to 9.75%

7 0
3 years ago
What are the four main types of access proposed by Andersen (1997)?
kompoz [17]

<u>Explanation:</u>

They are:

  1. potential access
  2. realized access
  3. equitable or inequitable access
  4. efficient and effective access

According to Andersen, Potential access refers to the availability of resources that would allow an individual to seek care if needed. The Realized access is viewed as the actual use of the care, that is, the individual realizes (or makes use of ) the potential access. Further, Andersen describes Equitable access as a type of access driven by demographic characteristics and need. While Inequitable access results not from demographic characteristics and need but from the individual's social structure, health beliefs, and enabling resources.

A

4 0
3 years ago
You would like to invest in one of the profitable business units of a multinational corporation. In a meeting with management, y
zubka84 [21]

Answer:

Unit A has revenue of $27 billion and a profit of $6 billion. While its product is based on a new technology that is rapidly increasing in sales, the product currently lags the market share of competitors.

Explanation:

According to the BCG Matrix, question marks are business units that operate in rapidly growing markets but currently only possess a low market share.

This results in a lot of cash being consumed by the business unit, but also the possibility of high growth. It is called a question mark because it is uncertain if the business unit will be successful or not. This means that they are very risky investments.

3 0
3 years ago
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