An CPI can be said as an index which measures the prices of "market basket" of some 300 good and services that is assumed to be fixed and the services are brought by a "typical" consumer.
Explanation:
1)<u>How does the Bureau of Labor Statistics (BLS) calculate the rate of inflation from one year to the next?</u>
The Consumer Price Index is an index which measures the prices of market basket of goods and services and it is used by the Bureau of Labor to calculate the rate of inflation, using the price of the basket from the current year divided by the base year, then multiplied by 100.
<u>2)What effect does inflation have on the purchasing power of a dollar?</u>
Inflation lowers the purchasing power of the dollar and it basically occurs when the market basket of goods is priced positively with reference to the rate of inflation.
<u>3) How does it explain differences between nominal and real interest rates</u>
A real interest rate is an interest rate that takes into account the effects of inflation in order to reflect the real cost of funds to the borrower and the real yield to an investor. A nominal interest rate refers to the interest rate that is calculated before taking the effects of inflation into account.
<u>4)How does deflation differ from inflation?</u>
Deflation occurs when the rate of inflation is negative.
An insurance company assigns more complex loss cases to a claims adjustor.
What is claims adjustor?
A claims adjuster looks into insurance claims to ascertain the scope of covering a business's obligation. Claims adjusters can deal with both liability claims involving third parties' property damage or personal injuries as well as property claims involving damage to structures.
The claimant is interviewed, any potential witnesses are questioned, records (including police or medical records) are checked, and any relevant property is inspected by the claims adjuster as they go through each case.
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Answer:
Single accounts are held by one person, while joint accounts have two or more holders.
Explanation:
The main difference between a single account and a joint account lies in the ownership of the account, that is, in how many people can be owners of said account. Thus, single accounts can only have one owner, that is, a single account owner. On the other hand, joint accounts can have more than one holder, with which the bank account can be shared by several people at the same time.
A firm gathers primary data by conducting surveys, interviewing customers, or mailing out questionnaires. The data gained through the surveys and interviews is a first-hand experience. And the data observed or collected directly from first-hand experience is called primary data. Secondary data on the other hand is published data and data obtained from other parties. <span />
Answer: 45 months
Explanation:
Credit owed $7200
Monthly payment $225
APR annaully 18.4%
Monthly APR = 18.4/12 = 1.533%
SOLUTION
1st Month interest payment
1.533% x $7200 / 100 = $110.40
Principal paid (monthly payment - interest paid) = $225 - $110.40 = $114.60
Balance ( principal - principal paid) = 7200 - 114.60 = $7085.40
2nd Month interest payment
1.533% x $7085.40 / 100 = $108.64
Principal paid (monthly payment - interest paid) = $225 - $108.64 = $116.36
Balance ( principal - principal paid) = $7085.40 - $116.36 = $6969.04
By following this step up to the 45th month you get $74.74 as the monthly payment this sums up to.
Month interest payment
1.533% x $74.74 / 100 = $1.15
Principal paid (monthly payment - interest paid) = $75.88 - $1.15 = $74.74
Balance ( principal - principal paid) = $74.74 - $74.74 = $0
The payment would be completed at exactly 45months