Answer:
The EAR of this arrangement is 22.24%.
Explanation:
The choice given by the store means that the present value of 52 weekly equal payment discounting at a weekly discount rate will be equal to the furniture price which is $1,520 ( as one year has 52 weeks). So, we apply the formula for calculating the present value of the annuity, with x denoted as discount rate as below:
1,520 = (32.33/x) * [1 - (1+x)^(-52)] <=> x = 0.387%.
As x = 0.387% is weekly rate, the EAR will be calculated as:
EAR = [ (1+0.387%)^(52) ] - 1 = 22.24%.
Take the number of people employed and divide by total population of country. then multiply by one hundred.
Answer:
The answer is <u>84% of the wage earners earn less than $14,000 each.</u>
Explanation:
This would make the most sense in the buissness area.