The problem could be solved by using the future value (FV) formula: FV = PV × (1 + r)ⁿ, where;
PV = Present value
r = interest rate
n period
So, substituting the formula with the value:
FV = $38,600 × (1 + (.03÷52))⁵²
≈ $39,775.20
Note that the interest is divided by 52 since it has to be compounded weekly.
So, the weekly payment will amount to $764.91 ($39,775.20÷52).
People with large heads tend to have high iqs.
Answer:
The correct option is (C)
Explanation:
Efficiency wages are higher than market wages that are paid by employers to motivate employees so that they perform better and their efficiency and productivity increase. Efficiency wages are directly proportional to productivity. The more the efficiency wage, higher will be labor productivity.
Efficiency wages are lie above equilibrium level. It helps in reducing labor turnover, improve labor efficiency and attract skilled employees.
