Answer: Mass customization
Explanation:
The mass customization is one of the marketing technique in which the various types of products and the services are get modified according to the customer requirement.
It basically associate with the mass production in which the products are available with the lower cost. In the organization, the mass customization technique basically allow the customers for selecting and designing the various types of features for the products.
Therefore, Mass customization is the correct option.
He must pay back 20268.32 of amount after borrowing 16000 for 8 years at the interest rate of 3% for one year.
<h3>How to calculate loan amount ?</h3>
- The term "Loan Amount" refers to the sum of money we currently owe you for this mortgage. The loan amount may also include other fees, interest , defaulted payments, interest on defaulted payments, principal, and interest on unpaid principal.
- The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate. The total interest on a loaned or borrowed sum is determined by the principal amount.
Amount he borrowed = 16000
No. of years = 8 years
Rate of interest = 3%
Calculate full amount (A) :
Equation for A = P(1 + r/n)^(nt)
A = 16000(1 + .03)^8
A = 20268.32
He need to pay 20268.32 after 8 years.
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Answer:
true
Explanation:
because there will be so many claims that each time you make a claim it costs more.