The nominal interest rate will rise by 3%.
Nominal interest rate is the sum of real interest rate and inflation rate. Real interest rate is interest rate that has been adjusted for inflation. Inflation is the persistent rise in general price levels.
Nominal interest rate in year 2 = real interest rate + inflation rate
6% + 3% = 9%
Nominal interest rate in year 1 = 6%
Change in nominal interest rate = 9% - 6% = 3%
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Answer:
See below
Explanation:
Given the following;
Standard hours per unit of output 6.4 hours
Standard variable overhead rate $12.80 per hour
Actual hours 2,650 hours
Actual output 150 units
To calculate the variable overhead efficiency variance, we will use the formula below;
Variable overhead efficiency variance
= (Standard quantity - Actual quantity) × Standard rate
Standard quantity = 150 units × 6.4 = 960
Variable overhead efficiency variance
= (960 - 2,650) × $12.80
= $21,632 unfavourable
A consumer's life style is identified partly by what that person considers important in her environment and what she thinks of herself and the world around her.
<h3>What is consumer life style?</h3>
This refers to characteristics consumer possess, which is a reflection of certain behaviour. The lifestyle patterns provide broader views about the consumers.
The components of consumer life style are :
- Activities
- Interests
- Opinions
Therefore, a consumer's life style is identified partly by what that person considers important in her environment and what she thinks of herself and the world around her.
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Answer:
Final Value= $120
Explanation:
Giving the following information:
How much is $100 to be received in exactly one year worth to you today if the interest rate is 20%.
We need to calculate the future value of the principal and the compounded interest:
FV= PV*(1+i)^n
FV= 100*1.20^1= $120
