Contract I believe would be the answer
Answer:
b) bring the factors of production together and take the risks of producing output.
Explanation:
There are basically four factors of production which are required in order to ensure the manufacturing of output, which are land,labor,capital as well as an entrepreneur.
The role of an entrepreneur is to bring together all factors in order to serve the purpose of creating valued-added output that can be sold at a price higher than the cost price in order to make a profit.
All in all, the role of an entrepreneur is not just to provide capital or control land but bring all factors of production together
Answer:
(1) $9,973.15
(2) 10.7%
Explanation:
(1) A = P(1+r)^n
A (estimated cost of the wedding) is the total amount to be saved = $52,000
r = interest rate = 3.5% = 0.035
n = duration of savings = 4 years = 4×12 = 48 months
52000 = P(1+0.035)^48
52000 P(1.035)^48
52000 = P(5.214)
P = 52000/5.214 = 9,973.15
Amount to be saved each month is $9,973.15
(2) A = P(1+r)^n
A is the total amount the coin was resold = $297,500
P is the amount the coin was purchased = $219,000
n is the duration of the investment = 3 years
297,500 = 219,000(1+r)^3
(1+r)^3 = 297,500/219,000
(1+r)^3 = 1.358
1+r = (1.358)^1/3
1+r = 1.107
r = 1.107 - 1 = 0.107 = 10.7%