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Answer:
a. Write a function that determines the investment's value (in dollars) in terms of the number of years t since the investment was made: 13,000 * (1 + 0.0236/12)^(12t) = 13,000 * 1.001967^12t
b. The investment's value after 20 years: $20,833.58
c. How long it will take for the investment's value to double: 352.8 months or 29.4 years.
Explanation:
a. As the interest rate is 2.36% APR compounded monthly, the monthly interest rate is 2.36%/12 and the Effective annual rate of is ( 1 + 0.0236/12)^12 - 1
=> After t years of investment, the value of the account is decided by the function: Interest receipt + Initial investment = Initial investment * [ ( 1 + 0.0236/12)^(12t) - 1 ] + Initial investment = Initial investment * 1.001967^12t = 13,000 * 1.001967^12t
b. Apply the function above, we have: The investment's value after 20 years = 13,000 * 1.001967^12*20 = 20,833.58
c. The investment's value is double means: 1.001967^12t = 2 <=> 12t = 352.8
<=> t = 29.4 => it will take for the investment's value to double: 352.8 months or 29.4 years.
Answer:
Appurtenant easement
Explanation:
An appurtenant easement grants the dominant tenement the right to use any adjoining property that transfers with the land through the servient tenement.
While the servient tenement provides the easement . the dominant tenement benefits the easement
In the scenario given , the lots are dominant tenement being the beneficiary of the right to use the land while the lake frontage is the servient tenement as it provides the easement for the lots
Answer:
The person is NOT spending her income for both goods in a manner that maximizes her satisfaction.
Explanation:
Based on the information given The person is NOT spending her income for both goods in a manner that maximizes her satisfaction which means that she would have to INCREASE baseball games consumption and DECREASE movies consumption reason been that we were told that an individual enjoys going to baseball game three times compare to seeing new movie which therefore means The price of the ticket for a baseball game which is the amount of $30 should be increase while the price of a ticket for a movie which is the amount of $15 should be decrease.