Answer:
The correct answer is "$9450".
Explanation:
Given:
Payoff from investment,
= $6000
Lending to bank,
=
=
Now,
At 15% interest,
The amount to be received from bank will be:
=
=
=
= ($)
hence,
In her old age, most she can assume will be:
=
= ($)
Answer:
Explanation:
A Market Basket is used to calculate inflation overtime by tracking the change in prices of a specific and permanent number of goods and services.
The formula for calculating the market basket is;
Cost of Market Basket = ∑(Price of good * Basket Quantity of good)
2015
Cost of Market Basket = (25 * 0.4) + (2 * 18) + ( 4 * 12)
Cost of Market Basket = 10 + 36 + 48
Cost of Market Basket = $94
2016
Cost of Market Basket = (25 * 0.5) + (2 * 22) + ( 4 * 18)
Cost of Market Basket = 12.5 + 44 + 72
Cost of Market Basket = $128.50
2017
Cost of Market Basket = (25 * 0.6) + (2 * 20) + ( 4 * 15)
Cost of Market Basket = 15 + 40 + 60
Cost of Market Basket = $115
Answer:
annual rate of interest = 9.01 %
Explanation:
given data
future value = $345,000
present value = $73,000
time period = 18 years
to find out
annual rate of interest
solution
we get here annual rate of interest that is express as
annual rate of interest = - 1 ..................................1
put here value and we get annual rate of interest that is
annual rate of interest = - 1
annual rate of interest = 9.01 %