Answer:
1. 5.00%
2. 15.70 year
Explanation:
As per the data given in the question,
1) For computing the interest rate we need to applied the RATE formula which is shown in the attached spreadsheet
Given that
Future value = 0
Present value = -$2587.09
PMT = $950
NPER = 3 years
The formula is shown below:
= RATE(NPER;PMT;-PV;FV)
The present value comes in negative
After applying the above formula, the interest rate is 5%
2) For computing the number of years we need to use NPER i.e to be shown in the attachment below
Given that
Future Value = $920,925
Present Value = 0
PMT = -$40,000
Interest rate = 5%
The formula is shown below
= NPER(RATE;-PMT;PV;FV)
The PMT comes in negative
After applying the above formula, the nper is 15.70 years
Buying products produced in another country is known as importing.
Exporting is selling products done in the country abroad.
Trade protectionism is a State's disposition that interferes with free trade in order to protect and encourage local production. It consists of barriers to importation, like heavy duties or prohibition of importing certain products.
Comparative advantage is the specialization in the production of a certain good that has lower opportunity costs of production than competitors. For example, a country with plains and grasslands has a comparative advantage for specialization in agriculture.
As you can see, importing is the correct answer, because it consists of buying goods and services abroad for consumption in one's country.
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The supply curve slopes upward because at a higher price, producers have an incentive to produce more and supply a larger quantity.
More about the supply curve:
The supply curve illustrates the relationship between the price of an item or service and the volume delivered over a specific time period. In a typical scenario, the amount supplied will be shown on the horizontal axis and the price will be shown on the left vertical axis.
The law of supply is expressed by the supply curve, which rises from left to right: The amount supplied rises as a certain commodity's price rises. A new supply curve must be created if a component other than price or quantity changes.
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Answer: $140
Explanation:
Based on the information given in the question, the marginal cost of producing the 50th acre of sod will be:
TC = 0.2Q² + 120Q + 5000
The marginal cost will be:
= dTC / dQ
= 0.4Q + 120
Then we put the value of Q = 50 into the equation and this will be:
MC = 0.4Q + 120
MC = (0.4 x 50) + 120
MC = 20 + 120
MC = 140
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