The Erie canal was able to connect industries and consumers in the east with c. Midwestern farmers.
The Erie Canal:
- Was completed in 1825
- Connected New York City and the Great Lakes
- Allowed for goods to be shipped to and from the New York to the Great Lakes
The Great Lakes were accessible to farmers in the midwestern region and after the Erie Canal was built, farmers were able to send their produce via the Great Lakes and through the Erie Canal to New York City where it could be purchased by industries and people or shipped internationally.
In conclusion, the Erie canal was very important to midwestern farmers as it increased their reach.
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Options for this question include:
a. Southern planters
b. Canadian fur traders
c. Midwestern farmers
d. New England fishers
Answer:
Instructions are below.
Explanation:
Giving the following information:
Martha receives $200 on the first of each month. Stewart receives $200 on the last day of each month. Both Martha and Stewart will receive payments for 30 years. The discount rate is 9 percent, compounded monthly.
To calculate the present value, first, we need to determine the final value.
i= 0.09/12= 0.0075
n= 30*12= 360
<u>Martha:</u>
FV= {A*[(1+i)^n-1]}/i + {[A*(1+i)^n]-A}
A= montlhy payment
FV= {200*[(1.0075^360)-1]}/0.0075 + {[200*(1.0075^360)]-200}
FV= 366,148.70 + 2,746.12
FV= 368,894.82
Now, the present value:
PV= FV/ (1+i)^n
PV= 368,894.82/ 1.0075^360
PV= $25,042.80
<u>Stewart:</u>
FV= {A*[(1+i)^n-1]}/i
A= monthly payment
FV= {200*[(1.0075^360)-1]}/0.0075
FV= 366,148.70
PV= 366,148.70/1.0075^360
PV= $24,856.37
Martha has a higher present value because the interest gest compounded for one more time.
Answer:
D. More Units may be sold - but total revenue will be less than it would be at the higher price
Explanation:
Marginal Revenue (MR) represents the additional revenue that can be obtained if sales of a product are increased by one unit.
MR= is change in Total Revenue/Change in Total Output Quantity
In this situation as envisaged by the Marketing Manager, a price cut will lead to an increase in revenue based on more (marginal) units of the product sold at a lower price. The challenge, however, is that this increase in income will not be enough to offset the decrease in revenue that will result as a result of the price cut.
In other words, the organisation is better off selling fewer products or units at its current price than sell more (marginal units) at a reduced price.
A niche market is the subset of the market on which a specific product is focused. The market niche defines the product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that it is intended to target. It is also a small market segment.
Answer:
$2,385,086
Explanation:
To answer this question, we need to use the present value of an ordinary annuity formula:
Where:
- A = Value of the annuity
- i = interest rate
- n = number of compounding periods
Because the interest rate is annual, it is convenient to convert it to a monthly rate.
4.5% annual rate = 0.37% monthly rate.
The number of compounding periods will be = 12 months x 30 years
= 360 months
Now, we simply plug the amounts into the formula:
You will need to have saved $2,385,086 if you plan to retire under the aforementioned circumstances.
