Please help i will give brainliest

If $1,000 is deposited in a certain bank account and remains in the account along with any accumulated interest, the dollar amou

Naddika [18.5K]

Answer:

The rate is greater than 8%

Explanation:

Given

$\small I = 1,000 \left (\left (1+\frac{r}{100} \right )^{n}-1 \right )$

Missing part of question

$I =210$

$n =2$

Required

Is r > 1

We have:

$\small I = 1,000 \left (\left (1+\frac{r}{100} \right )^{n}-1 \right )$

Substitute values for r and I

$210 = 1,000 \left (\left (1+\frac{r}{100} \right )^{2}-1 \right )$

Divide both sides by 1000

$0.210 = \left (\left (1+\frac{r}{100} \right )^{2}-1 \right )$

Add 1 to both sides

$1.210 = (1+\frac{r}{100} \right ))^{2}$

Take square roots of both sides

$\sqrt{1.210} = 1+\frac{r}{100}$

$1.1 = 1+\frac{r}{100}$

Subtract 1 from both sides

$0.1 = \frac{r}{100}$

Multiply both sides by 100

$r = 10$

$10 > 8$

Hence, the rate is greater than 8%

7 0

3 years ago

If a firm favors a push strategy, using direct selling to educate potential consumers about the features of its products, what k

BigorU [14]

Answer:

industrial products

Explanation:

A company that does this and mostly favors a push strategy is usually selling industrial products. That is because a push strategy focuses on taking the product to the potential customer and showing them how it works as well as how it can benefit them, therefore pushing the product on them. Industrial Products are great for such a strategy since they require actual demonstration and can easily show the potential customer the actual value that the product can provide.

3 0

3 years ago

Tony is a 45-year-old self-employed psychiatrist who has net earned income of $300,000 in 2020. What is the maximum amount he ca

Natali5045456 [20]

Answer:

Tony is a 45-year-old psychiatrist who has net earned income of $300,000 in 2020. What is the maximum amount he can contribute to his SEP for the year? 300,000x.25= 75,000 or $57,000

$57,000

Explanation:

6 0

2 years ago

An existing electrical power line needs to have its capacity increased, and this can be done in either of two ways. The first me

nekit [7.7K]

Answer:

3 years

Explanation:

First method

The PV of the investment can be written as:

PV1 = $15,000 + $32,500/(1+0.06)^n

Second method

The PV of the investment can be written as:

PV2 = $23,000 + $23,000/(1+0.06)^n

After n years both projects will be economically equal. Hence their present value must be equal PV1 = PV2

$15,000 + $32,500/(1.06)^n = $23,000 + $23,000/(1.06)^n

$23,000 - $15,000 = $32,500/(1.06)^n - $23,000/(1.06)^n

$8,000 = $9,500/(1.06)^n

(1.06)^n = $9,500/$8,000

(1.06)^n = 1.1875

Taking log on both sides we get:

nlog1.06 = log 1.1875

n = log 1.1875/log 1.06

n = 0.07463361829/0.02530586526

n = 2.94926166417121

n = 3

So, the answer is 3 years

3 0

2 years ago

Trade Associations provide all of the following except

Lyrx [107]

Answer: B: a degree

Trade Associations provide all of the following a degree.

Explanation:

Trade Associations refer to a group of people in a particular business or trade, who come together to promote their common interests. They are established to set laws and provide great knowledge to companies within the industry. Members operate in the same industry. They are non-profit organizations who provide different learning tools for businesses in a particular industry. They are also known as trade organization.

6 0

3 years ago