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yaroslaw [1]
3 years ago
11

If the $10.61 cost in 1972 is equal to $68.69 in 2013, then what rate of inflation, i%=?, was used to determine the 2013 costs?

Express your answer as a %.
Business
1 answer:
Paraphin [41]3 years ago
4 0

Answer:

inflation rate = 4.66%

Explanation:

we can determine the inflation rate using the future value formula:

future value = present value x (1 + i)ⁿ

  • future value = $68.69
  • present value = $10.61
  • n = 41 years
  • i = inflation rate ?

$68.69 = $10.61 x (1 + i)⁴¹

(1 + i)⁴¹ = $68.69 / $10.61 = 6.474081056

⁴¹√(1 + i)⁴¹ =  ⁴¹√6.474081056

1 + i = 1.0466

i = 1.0466 - 1 = 0.0466 = 4.66%

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social norms

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Social norms are, if seen as a societal viewpoint, informal interpretations which regulate the actions of people in a society. In response to religious or community expectations, behavioral economics acknowledges smaller group structures (such as a team or perhaps a department) can also accept norms independently.

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Explanation:

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2 years ago
Indicate the missing amount for each letter.
ExtremeBDS [4]

Answer:

Follows are the solution to this question:

Explanation:

                                                       Case 1

                                      Production cost of goods

Work is under way, start                                                            1510

Material direct                                     9780

Labor Direct                                        5950

Overhead production                        8870

Total cost of production                                           24600  

Total work costs under way                                     26110

Less: Finishing job in phase                                       8140

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7 0
3 years ago
You run the Social Security Administration. What about this chart might worry you?
AURORKA [14]

Answer:

The amount of taxpayers that are part of the "older generation" is slowly rising and is higher than the amount in 1997.

Explanation:

Remember to run a successful government, you must have the income in which to run the government programs. Most of these funds come from taxpayer's. In this case, it is clear that younger people generally make more as well as are generally healthy, leading to a large amount of input of money into the government, with fewer withdrawals. This would give a huge boost to the government budget. Older people on the other hand tend to not work as much, so their taxes are generally lower. They also withdraw more from the Government through Social Security, and so leaves the government with a negative balance from them in most cases.

The chart on the other hand shows a <em>increase of percentage of older people</em>, which leaves a large gap in between the surplus and the spending, leading to a decrease of funding for the government. If this continues, the government would lose money, and would have to cut programs or face collapse. To fix this, they either have to, like stated above, cut programs, or give more taxes. Both are unacceptable to the American Public, which is what makes the government, as well as the average citizen, worried about the US government's funding surplus.

~

8 0
3 years ago
Read 2 more answers
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