Answer:
It acts as a stimulus to a market
Explanation:
Incentive encourages people to act in a particular and desired way. It is anything that motivates people to work hard to achieve set objectives.
Since incentives influence behavior, they can act to stimulate the market. Stimulating the market refers to the actions that encourage increased economic activities. Incentives lead to increased levels of activities in the market.
It depend on the country and the place. In certain countries there are certain regulations determining the lowest payment, in other countries the unions plays a big role on determining the minimum salary for the new graduates, or at least they know very well the average salary for the careers they represent. However, the active demand in certain careers plays a big role in determining the average salary. In many cases, it would be possible for you to google it and read about the various stories of the applicants and the people who joined the new jobs.
The future value of a given amount of money at a simple interest rate r% after t years is given by the formula: FV = PV(1 + rt), where PV is the present value of the money, r is the rate and t is the time.
FV = PV(1 + rt)
FV = 240000(1 + 0.1 x 5)
FV = 240000(1 + 0.5)
FV = 240000(1.5)
FV = 360,000
Therefore, the future amount of $240,000 received 5 years from today at 10 percent annual interest is $360,000
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