Answer:
Josh will get $4376 after 3 years.
Explanation:
The formula of Compound Interest is:
where A = Amount
P = Principle
r = rate
n = Number of Compounding per year
t = total number of year
Here, P = 4000, r = 3% = 0.03, n = 4(quarterly), and t = 3.
Putting all these values in above formula:
⇒
⇒
⇒
⇒ A = 4376
Hence, Josh will get $4376 after 3 years.
As the price of computers falls the quantity of computer demand increases. This is an application of the law of demand.
What do you understand by the Law of Demand?
According to the law of demand, pricing has an inverse relationship with the number of goods purchased. Alternatively said, the quantity requested decreases as the price increases. Decreasing marginal utility is what causes this.
What is the Law of Decreasing Marginal Utility?
According to the law of diminishing marginal utility, consumption grows at the same time that the marginal utility from each new unit decreases. The incremental gain in utility caused by consuming one more unit is called the marginal utility. The word "utility" is used in economics to denote happiness or contentment.
Know more about the Law of Demand:
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That would be a Bass Drum
Answer: 31
Explanation:
Based on the information given, the economic order quantity will be:
Annual requirement = 2000
Buying cost per order = 37
Carrying cost = 150
Economic order quantity will be:
= ✓(2 × 2000 × 37/150)
= ✓986.7
= 31.4
= 31
Therefore, economic order quantity is 31 units