Pn = P0(1+r)∧n
Pnis future value of P0
P0 is original amount invested
r is the rate of interest
n is the number of compounding periods (years, months, etc.)
P(n) = 2250(1+(.03/4)∧8
** since the interest is compounding quarterly, you need to divide the rate by 4, the number of quarters in a year.
Then you would do the math.
Answer:
$172,000
Explanation:
Calculation for what Andrea's 2020 gross income from the above is:
Using this formula
2020 gross income=Punitive damages+ Medical expenses deducted
2020 gross income=$160,000+$12,000
2020 gross income=$172,000
Therefore Andrea's 2020 gross income from the above is: $172,000
Answer:
In the Basic Solow Model without exogenous growth, if the population, and therefore the labor supply, doubles <u>steady state output per worker will be unchanged.</u>
Explanation:
According to the given scenario options A, B and C are ruled out. Hence, the answer to the above question is option D. Steady state output per worker will be unchanged.
Hope this helps.
Answer:
B) no more than 9%
Explanation:
The computation of the rate of interest is given below:
Given that
Initial Cost = $500
Yearly Yield = $200
Based on the above information
Let us assume the rate of interest be 10%
So,
PV at 10% is
= - $500 + $200 ( P/A , 10% , 3 )
= -$500 + $200 ( 2.487 )
= - 500 + 497.4
= -2.6
As we can see that the at 10% there is a negative value and if we take more than 10% so again it would be the negative value
Now
Let us assume the rate of interest be 10%
So,
PV at 8% is
= - $500 + $200 ( P/A , 8% , 3 )
= -$500 + $200 ( 2.577 )
= -$500 + $515.4
= $15.4
So the rate of interest would not be more than 9%
The answer would be $93.32
I hope this helped
