Answer:
a. 7,000 years
b. 2,333 years
c. 875 years
Explanation:
Based on rule of 70, we can have the following formula to do the calculation:
Number of years to double = 70 ÷ Interest rate per year .................... (1)
We can now calculate as follows:
a. A savings account earning 1% interest per year.
Number of years to double = 70 ÷ 1% = 7,000 years
b. A U.S. Treasury bond mutual fund earning 3% interest per year.
Number of years to double = 70 ÷ 3% = 2,333 years
c. A stock market mutual fund earning 8% interest per year.
Number of years to double = 70 ÷ 8% = 875 years
Note:
It can be observed that the higher the interest rate, the lower the number of years it will take the investment to double.
The free market economy is the one where the buyers & sellers should freely select to buy or make.
The following information related to the free market economy is:
- It should depend upon the supply & demand having no government interference.
- In this, the buyers & sellers have the right to select for making or buying whatever they want.
Therefore we can conclude that the free market economy is the one where the buyers & sellers should freely select to buy or make.
Learn more about the economy here: brainly.com/question/11905095
The factor that would shift demand is the reduction in the price of laptops.
The equilibrium price and quantity would decrease.
<h3>What is the result of the policy?</h3>
When the price of laptops are reduced, the quantity demand for laptops would increase while the demand for computers would fall. This is because computers and laptops are substitute goods.
As a result of a fall in the demand for computers, the demand curve would shift to the left. Equilibrium price and quantity would fall.
Please find attached the required diagram. To learn more about the demand curve, please check: brainly.com/question/25140811
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<span>A product used in this way is known as a Benchmark Item.
Benchmark item refers to the type of product that is used as a standard when we want to compare it another similar product.
By seeing the price of Burger in this particular situation, Jason could predict the price of other product that being sold in that place.</span>
