A good is characterized as "non-rival" when one person's use of the good does not reduce another person's ability to use the same unit of the good. Therefore, the correct option is "non-rival."
A "good" is anything that satisfies human wants. A good can be a physical item such as a house, a car, or a piece of land. A good can also be a service, such as a hair salon or a concert performance.
A "non-rival good" is one that does not reduce the quantity available to others when consumed or used. A common example of a non-rival good is air. Another example of non-rival goods includes an internet file-sharing website. The more individuals download files, the larger the number of files is available to be downloaded by others.
In the case of a non-rival good, one person's use of the good does not reduce another person's ability to use the same unit of the good. For instance, air is non-rival because my breathing it does not prevent another person from breathing it.
Similarly, knowledge is non-rival. The teacher's knowledge and the student's knowledge are not mutually exclusive. The use of the same unit of knowledge does not limit the quantity of knowledge available to other students.
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Assume interest rate = 10% per year. What is the price of a 6-month put with strike 85, on a stock with a current price of 100 and volatility 40% p.a.?
A 6-month option with strike 85 on stock at 100 and volatility of 40% p.a. costs $6.62. A 6-month put with strike 85 on a stock with a 100 price and 40% annual volatility costs $6.62.
A put option offers the holder the right but not the obligation to sell the underlying asset at a certain price and time. European put option formula:
P = Ke^(-rT)N(-d2) - SN(-d1).
P: put option price K = stock price T=expiration time r= risk-free
interest rate N = cumulative normal
distributiond1
= [ln(S/K) + (r + 0.5σ²)T] / σ√T
d2 = d1 - σ√T
In this case, we have:\(S = 100K = 85T = 0.5 years \\r = 10% p.a.σ = 40% p.a.d1 = [ln(100/85) + (0.1 + 0.5(0.4)²)0.5] / (0.4√0.5) ≈ 0.378d2 = 0.378 - 0.4√0.5 ≈ 0.042\)
Using a standard normal distribution table, we find that:\(N(d1) ≈ 0.648N(d2) ≈ 0.521\)
Substituting these values into the put option formula:\(P = 85e^(-0.1(0.5))(0.521) - 100(0.648) ≈ $6.62.\)
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Find a news headline that refers to the business cycle. What phase of the business cycle does your headline reference? Explain.
Answer:
The business cycle typically consists of four phases:
Expansion: This phase is characterized by increasing economic activity, rising GDP, low unemployment rates, high consumer confidence, and increased business investments.
Peak: The peak represents the highest point of economic expansion before the cycle starts to slow down.
Recession: This phase marks a slowdown in economic activity. It is characterized by declining GDP, rising unemployment, reduced consumer spending, and decreased business investments.
Trough: The trough represents the lowest point of the business cycle. It is the phase where the economy reaches its bottom before starting to recover.
which of the following statements is false? a. cash flows do not have to occur for every period shown on the time line. a lump sum cash flow can be depicted as easily as annuities on a time line. b. time lines can show cash flows that occur over years, quarters, or any other periods. c. time lines typically show dollars below the line and years above the line. d. time lines put verbal information into a diagram that is useful for seeing the cash flows that occur, when they occur, and the interest rate used in the analysis.
The false statement from the given options is "Time lines typically show dollars below the line and years above the line.cash flow.
A timeline is a graphical representation of the time-series data, with the data arranged in chronological order over a period of time. Time lines are useful for visually depicting cash flows, and the points in time when they occur, as well as the interest rate used in the analysis. A time line is a diagram that summarizes the timing and size of cash flows, as well as the interest rate used in the analysis.Which statement is false?The correct answer is (c) Time lines typically show dollars below the line and years above the line.
The above statement is incorrect, as typically, time lines display cash flows above the timeline, and the years (time frame) are represented below the line. So, the statement given in option (c) is false.The other statements are true, such as cash flows do not have to occur for every period shown on the time line, lump sum cash flow can be depicted as easily as annuities on a time line, and time lines can show cash flows that occur over years, quarters, or any other periods. In conclusion, the false statement is (c) Time lines typically show dollars below the line and years above the line.
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What is the difference between marginal revenue and marginal benefit?
While borderline profit measures the fresh profit a company earns by dealing one fresh unit of its good or service, marginal benefit measures the consumer's benefit of consuming an fresh unit of a good or service.
Marginal benefit is a measure of a consumer's benefit of copping an fresh unit of a good or service, while borderline profit is a measure of how important plutocrat a company earns by producing a unit of a good or service. Borderline benefit is the maximum quantum of plutocrat a consumer is willing to pay for an fresh good or service.
The consumer's satisfaction tends to drop as consumption increases. Borderline cost is the change in cost when an fresh unit of a good or service is produced.
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Why are wages and salaries generally determined by the market for labor?
According to maximum economics textbooks, our wages and salaries are decided similar to another price: with the aid of using deliver and call for. People deliver their labor, and organizations call for it, growing a marketplace for labor.
Many dealers and shoppers of exertions services. Consequently, salary and salaries are decided by the intersection of the call for exertions and the deliver for exertions. A curve displaying the one-of-a-kind portions of exertions employers are inclined to lease at one-of-a-kind salary quotes in a given time period, ceteris paribus.
Wages are determined via way of means of deliver and demand, however they may be encouraged via way of means of an extensive kind of factors, along with the price of dwelling in a selected area, the presence of a union and the present-day minimal wage.
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Delicious Foods manufactures various types of ice cream that feature pistachios. Foodie Company has approached Delicious Foods with a proposal to sell the company its top selling ice cream at a price of $22,000 for 10,000 pounds. The costs shown are associated with production of 10,000 pounds of ice cream:
Cost Information
Cost Type Costs
Direct Materials $13,000
Direct Labor $5,000
Variable Overhead $5,000
Fixed Overhead $2,000
No fixed overhead costs are avoidable. If Delicious Foods accepts the offer, by how much will net income increase (decrease)?
Group of answer choices
$2,000
$1,000
$3,000
$(3,000)
($7,000)
The Net Income increase by $(3,000).
Explanation:
To determine the net income increase (or decrease) if Delicious Foods accepts the offer from Foodie Company, we need to analyze the costs associated with the production of 10,000 pounds of ice cream and compare it with the proposed selling price. Here's a step-by-step explanation:
1. Calculate the total production cost, which includes direct materials, direct labor, variable overhead, and fixed overhead costs:
Direct Materials: $13,000
Direct Labor: $5,000
Variable Overhead: $5,000
Fixed Overhead: $2,000
Total Production Cost = $13,000 + $5,000 + $5,000 + $2,000 = $25,000
2. Compare the total production cost with the proposed selling price:
Selling Price: $22,000
Total Production Cost: $25,000
3. Calculate the net income increase (or decrease):
Net Income Change = Selling Price - Total Production Cost
Net Income Change = $22,000 - $25,000
Net Income Change = - $3,000
If Delicious Foods accepts the offer, the net income will decrease by $3,000. So, the answer is:
($3,000)
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Which is considered part of a person’s income for the year?
Answer:
Gross income is everything that an individual earns during one year, both as a worker and as an investor. Earned income includes only wages, commissions, bonuses, and business income, minus expenses, if the person is self-employed.
Explanation:
Abby recently hired an architect to design her new home. Abby would like to know which manufacturer will be used for the flooring to be installed throughout the living room and dining room. Where should Abby look to find this information...
the correct answer is Specifications.
What is a cornerstone?
The first stone laid during the construction of a masonry foundation is known as the cornerstone, foundation stone, or setting stone. This stone will serve as the reference point for all others, setting the overall structure's location.
A cornerstone eventually evolved into a ceremonial masonry stone, or replica, placed in a conspicuous spot on the exterior of a structure, with an inscription on the stone listing the building's construction dates as well as the names of the architect, builder, and other important people. In eastern architecture and generally in religious building, the cornerstone-laying ritual is a significant cultural element.
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by conducting ________, corporations expect to prevent unethical conduct to a greater degree.
By conducting ethical training programs and establishing a culture of ethical behavior, corporations expect to prevent unethical conduct to a greater degree.
These programs aim to educate employees on the company's values and principles, as well as provide guidance on how to navigate ethical dilemmas. The goal is to ensure that employees understand the importance of ethical behavior and are equipped with the tools to make ethical decisions.
Additionally, corporations may implement codes of conduct, whistleblower policies, and other mechanisms to encourage employees to report unethical behavior and hold themselves and others accountable. By prioritizing ethics and integrity,
Corporations can create a work environment that fosters trust and promotes responsible behavior, ultimately reducing the risk of misconduct and preserving the company's reputation. These training programs help employees understand the company's values and expectations, which in turn fosters a more ethical work environment.
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Presented below is information related to Ricky Henderson Company.
Cost Retail
Beginning inventory $ 200,000 $ 280,000
Purchases 1,375,000 2,140,000
Markups 95,000
Markup cancellations 15,000
Markdowns 35,000
Markdown cancellations 5,000
Sales revenue 2,200,000
Compute the inventory by the conventional retail inventory method. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answer to 0 decimal places, e.g. 28,987.)
Ending inventory using conventional retail inventory method
$Presented below is information related to Ricky He
The ending inventory using conventional retail inventory method is $170,100.
Ricky Henderson Company Ending inventory
Cost Retail
Beginning inventory $200,000 $280,000
Add Purchases $1,375,000 $2,140,000
Total $1,575,000 $2,420,000
Markups $95,000
Markup cancellations ($15,000)
Net markup $80,000
($95,000-$15,000)
Total $1,575,000 $2,500,000
($2,420,000+$80,000=$2,500,000)
Markdowns $35,000
Markdown cancellations ($5,000)
Net markdown ($30,000)
($35,000-$5,000)
Sales price of goods available $2,470,000
($2,500,000-$30,000)
Less Sales revenue ($2,200,000)
Ending inventory at retail $270,000
($2,470,000-$2,200,000)
Second step is to calculate the Cost-to-retail ratio using this formula
Cost-to-retail ratio=Cost of goods sold available/Retail price of goods available+ Net markup
Let plug in the formula
Cost-to-retail ratio=$1,575,000/($2,420,000+$80,000)
Cost-to-retail ratio=$1,575,000/$2,500,000
Cost-to-retail ratio=0.63
Third step is to calculate the ending inventory at cost (lower of cost or market) using this formula
Ending Inventory at cost =Cost-to-retail ratio× Ending inventory at retail
Let plug in the formula
Ending Inventory at cost=0.63×$270,000
Ending Inventory at cost =$170,100
Inconclusion the ending inventory using conventional retail inventory method is $170,100.
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In a particular country in 1998, the average worker needed to work 25 hours to produce 40 units of output. In that same country in 2008, the average worker needed to work 40 hours to produce 68 units of output. In that country, the productivity of the average worker:.
The productivity of the average worker is increased by 6.25 percent between 1998 and 2008.
What is productivity?Productivity refers to the measure of the efficiency of the employee of the company to produce the goods and services in the organization. It can be expressed in terms of the amount and numbers.
The productivity of the worker can be calculated as follows:-
P= output / no. of hours
Where:
P= productivity
In 1998, The productivity of the worker is as follows:-
P = 40/25
= 1.6
In 2008, The productivity of the worker is as follows:-
P = 68/40
= 1.7
Thus the increase and decrease in the productivity of the worker can be calculated as follows:-
Percentage of increase=P2008-P 1998}{P 1998}x100
= 6.25 percent
The productivity of the average worker increased by 6.25 percent between 1998 and 2008.
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Which of the following is the best thing to consider when making comparisons between job offers? a. Gross pay b. Total employee benefits c. Total job benefits d. Total employment compensation.
The best thing that can be considered while making comparisons between job offers is that the total job benefits must be taken into consideration. So, the correct option is C.
Total job benefits refers to the benefits including and other than salaries that an employee gets from different job offers at a given period of time, which may or may not include perks.
Benefits of a jobTotal job benefits implies that what are the in all benefits an employee may reap by accepting such job offer by intimating his positive interest to the employer or recruiter.The total job benefits include salaries and other perks like vehicle facility, accommodation, health and education expenses of family members and other perks as may be specified by the employer.The employee has to be rational while choosing the right job offer. If a company offers $10000 salary without any perks can be avoided for a job offering $7500 but with car and a house and education expenses.
Hence, the correct option is C, that a person must take into consideration his total job benefits given by two different job offers.
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Answer:
C is correct
Explanation:
Edge Carrer Prep
Cost is a major factor for consumers when purchasing health products. Please select the best answer from the choices provided. T F Mark this and return
The statement "cost is a crucial issue for customers when purchasing health products" is correct. The sort of health product purchased will be determined by the consumer's purchasing power and the product's price. Customers are drawn in by lower prices.
What is meant by purchasing power?The amount of products and services that may be purchased with a unit of cash is referred to as purchasing power. For example, if one took one unit of cash to a store in the 1950s, one could buy a higher number of products than one could now, showing that the currency had greater buying power in the 1950s.
If one's monetary income remains constant while the price level rises, the buying power of that income decreases. Inflation does not automatically entail a decline in one's buying power, as the latter may grow faster than the price level.
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costs for office equipment in the first year of a business can run from approximately question 8 options: $500 to $1,500. $3,000 to $12,000. $6,000 to $18,000. $10,000 to $25,000.
The costs for office equipment in the first year of a business can run from approximately $3,000 to $12,000. Therefore, the option B holds true.
What is the significance of costs?Costs can be referred to or considered as the amount to be incurred by a firm in order to ensure smooth functioning of its business operations. They vary from the department to department and the nature of the firm.
Costs such as office equipment can have a varying range for different natures of the firm. Most of the firms will have a cost for these equipments between $3,000 to $12,000. This range is not exhaustive, though.
Therefore, the option B holds true and states regarding the significance of costs for office equipments.
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What can a boosted post help an advertiser achieve?
A boosted post helps an adviser to connect with the audience and gain trust.
Boosted post is a kind of post that is used on social media platforms in order to enhance the page of the platform and to attract audience to the page. Boosted post can help better communication with the audience along with the increase in a greater number of messages, calls and texts. Boosted posts help for better advertisements of the product. For example, A Chocolate brand may use Boosted posts to gain audience as well as consumers. Boosted posts helps an adviser to be discovered among people, to establish a benchmark in the market and to gain more and more customers. It's a kind of marketing strategy used for publicity purpose.
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how much would your parents have to deposit each month into an account that grows at a rate of 7% per year compounded bi-monthly (compounded once in two months) if they want to have $68,000 at the end of year 4 to cover part of your college expenses? assume no interperiod compounding.
Your parents would have to deposit $1,227.68 each month into an account that grows at a rate of 7% per year compounded bi-monthly (compounded once in two months) if they want to have $68,000 at the end of year 4.
What do you mean by deposit?
Deposit is money or asset that is placed or kept in a bank, financial institution or other business for safekeeping. It can also refer to the act of placing or keeping money or assets in such an institution. The term can also refer to goods placed in a warehouse, such as a grain deposit. Deposits are often held in exchange for a benefit, such as an interest rate or other services. Deposits are generally used as a form of savings, allowing individuals and businesses to store their money securely until it is needed for investment or other purposes. Depositing money into a bank is an important part of financial planning, as it helps to ensure the safety of assets, as well as providing access to interest-bearing accounts and other investment opportunities.
This calculation is based on an annuity formula with the following values:
n = 8 (semi-annual compounding periods)
i = 0.035 (7% per year compounded bi-monthly)
PV = 68,000
FV = 0
PMT = 1,227.68
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sam is selling his real estate. he puts in the contract that there are no liens or claims against the property. what is this called?
Sam is including a warranty in the contract that there are no liens or claims against the property. This is commonly known as a "warranty of title" or "warranty of ownership,"
When Sam is selling his real estate and includes in the contract that there are no liens or claims against the property, he is providing a "warranty of title." This warranty ensures the buyer that the property has a clear title, free from any encumbrances or legal issues. It offers protection to the buyer by holding the seller responsible for addressing any title defects discovered after the sale. It guarantees that Sam has the legal right to sell the property and that there are no outstanding debts, liens, or other claims against it that would affect the new buyer's ownership. This warranty is often included in real estate contracts to provide protection for the buyer and ensure a smooth transfer of ownership. If any liens or claims are discovered after the sale, the warranty of title may provide the buyer with legal recourse to seek compensation from the seller.
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_____ management is the art and science used to determine the most effective ways to acquire and use funds to achieve the firm's goals.
Financial management is the art and science used to determine the most effective ways to acquire and use funds to achieve the firm's goals.
Financial management involves the planning, organizing, directing, and controlling of financial activities to achieve the firm's objectives. It is crucial for ensuring the efficient utilization of resources and maximizing shareholder value. Some of the most effective ways financial management achieves a firm's goals include:
1. Budgeting and forecasting: By preparing budgets and financial forecasts, management can allocate resources optimally and anticipate future financial needs.
2. Capital structure management: Determining the right mix of debt and equity helps a firm minimize its cost of capital and maximize shareholder value.
3. Investment decision-making: Financial management enables the firm to evaluate and select the most profitable investment projects, thus ensuring long-term growth and sustainability.
4. Working capital management: By managing cash, inventory, and accounts receivable/payable efficiently, financial management ensures that the firm maintains adequate liquidity and avoids financial distress.
5. Risk management: Identifying and managing financial risks, such as interest rate fluctuations, currency exchange rate risk, and credit risk, helps the firm protect its financial stability.
In summary, financial management plays a crucial role in helping a firm achieve its goals by efficiently allocating resources, managing capital structure, making sound investment decisions, maintaining liquidity, and managing financial risks.
Therefore, financial management is the art and science used to determine the most effective ways to acquire and use funds to achieve the firm's goals.
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Mnemonics are a tool to aid which of the following?
A. Perception
B. Memory
C. Rewards
D. Confidence
Answer:
B. Memory
Explanation:
Mnemonics are a tool to aid memory.
You have a small business. your first-year financials are as follows.
start-up costs $60,800
gross sales $65,800
total expenses $28, 500
income taxes $6, 370
what is the return on investment (roi)for your business?
The return on investment for the business with the given financials are as follows,
Start-up costs $60,800
Gross sales $65,800
Total expenses $28, 500
Income taxes $6, 370
Overall expenditure $95670
Return on investment, $65800- $95670
= $-29870.
What is Return on investment?Return on investment is a financial ratio used to calculate the benefit an investor will receive in relation to their investment cost. It is most commonly measured as net income divided by the original capital cost of the investment.
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in the context of big data, both structured and unstructured information are growing exponentially with regard to _____.
As per the Big data both structured and unstructured information are growing exponentially with regard to Volume, Velocity and Variety of information.
What is Big data?Big data is known to be as the data which are considered to be too large and are to be dealt with Traditional data in the company over a period of the time.
Big Data has become basically a popular term to explain the exponential growth, availability, and use of information, both structured and unstructured system with regards to the Volume and Velocity.
Therefore Big data are merely growing because of Variety of information and the volume and velocity.
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Television advertising offers many advantages to national advertisers, but it is a relatively ______ form of advertising
Television advertising offers many advantages to national advertisers, but it is a relatively expensive form of advertising.
Advertisement is used by companies to promote their products and make people aware of such products. There are different forms of advertisement such as through television, radio, newspaper, etc.
Television advertising is typically desirable but costly to produce the advertisement. It's desirable but expensive to buy time. Despite its advantages, it's costly.
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What should you, the worker, be aware of with regard to evacuation procedures at your workplace?
(select two answers)
(a) when you get back into the building
(b) evacuation plans
(c) what to do when the emergency has passed
(d) how long the emergencies will last
With regard to evacuation what one has to be aware of would be
evacuation planshow long the emergencies will lastWhat is meant by evacuation?This is the term that is used to refer to all that would have to be done in order to get all the occupants of a building out of it due to an emergency that is occurring in the building. The need for evacuation is often due to emergency that could cause a loss of life. An example of such incidence would during a fire outbreak.
Hence we can say that With regard to evacuation what one has to be aware of would be
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A bond with an annual coupon rate of 4.8% sells for $970. What is the bond’s current yield? (Round your answer to 2 decimal places.)
Rounded to 2 decimal places, the bond's current yield is 4.95%.
The current yield of a bond is a financial measure that represents the annual return on investment (yield) of the bond based on its current market price. It is calculated by dividing the bond's annual coupon payment by its current market price.
To calculate the current yield, you need to know the bond's annual coupon payment, which is typically expressed as a percentage of the bond's face value.
For the case above, to calculate the bond's current yield, you need to divide the annual coupon payment by the bond's current market price.
Annual Coupon Payment = (Coupon Rate x Face Value) Annual Coupon Payment = (0.048 x 1000) = $48We know that the current Market Price = $970, hence:
Current Yield = (Annual Coupon Payment / Current Market Price) Current Yield = (48 / 970) Current Yield = 0.04948Rounded to 2 decimal places, the bond's current yield is 4.95%.
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What are some methods that a business can use to maximize its profits through profit Expense Management?
Some key areas can help drive to maximize profits. These are reducing costs, increasing turnover, increasing productivity, and increasing efficiency. One can also expand into new market sectors, and develop new products, or services.
Profitability is the ability of a business to produce more revenue than expenses. A profit margin is the amount of money that a business makes from the sale of a product or service. One of the first strategies to help in increasing profitability is to meet with members of your team to establish common goals related to increasing profits. Conducting market research can help you identify target audiences and understand their motivations to purchase your product or services.
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Assuming elasticity of demand is reported as an absolute value, a price elasticity of demand of 0.4 indicates an: Multiple Choice elastic demand, meaning the percentage change in quantity demanded will be greater than the percentage change in price. inelastic demand, meaning the percentage change in quantity demanded will be greater than the percentage change in price. elastic demand, meaning the percentage change in quantity demanded will be less than the percentage change in price. inelastic demand, meaning the percentage change in quantity demanded will be less than the percentage change in price.
A Price elasticity of 0.4 means that there is inelastic demand, meaning the percentage change in quantity demanded will be less than the percentage change in price.
Price elasticity shows how much the quantity that is demanded of a good will change as a result of prices changing.
When the Price elasticity is less than 1, as is the case here, it means that for every 1% change in price, there is a 0.4% change in quantity demanded. This means that demand is inelastic as it does not change significantly as a result of a price change.
Examples of such goods include:
medicine utilities foodall essential goodsIn conclusion, a price elasticity of 0.4 means that a good is inelastic because the quantity demanded of it does not change significantly in response to a price change.
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an engineer invests $6,000 at the end of every year for a 40-year career. if the engineer wants $1 million in savings at retirement, what interest rate must the investment earn? a. 6.3% b. 4.3% c. 8.3% d. 10.3%
In order to accumulate a savings of $1 million within a 40-year time frame with an annual contribution of $6,000, the engineer must secure an interest rate of 8. 3%
How to solveThis can be calculated using the following formula:
Future Value = Present Value * (1 + Interest Rate)^Number of Years
In this case, the future value is $1 million, the present value is the annual investment of $6,000, and the number of years is 40. Plugging these values into the formula, we get:
$1,000,000 = $6,000 * (1 + Interest Rate)^40
Solving for the interest rate, we get:
Interest Rate = \((1,000,000 / 6,000)^(1/40) - 1 = 8.3\)%
Hence, in order to accumulate $1 million after 40 years by investing $6,000 annually, the engineer must achieve an interest rate of 8. 3%
Answer: c. 8.3%
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who makes the final decision on ordering the product backlog?
a. Lead Developer
b. Scrum Master
c. Product Owner
d. Development Team
The Product Owner makes the final decision on ordering the product backlog.
The ultimate say on what further is added to the product backlog belongs to the product owner. Contrary to popular belief, anybody may order products from the product backlog, not just the product owner. The statement is untrue. It should be suggested that the product backlog be ordered by everyone who has a voice in how the project turns out. However, the product owner, who often is the sole person with ultimate authority, is in charge of allocating a backlog item's priority.
A list of all the tasks required to create and release your project is contained in the product backlog. Every team member should be able to comprehend the requirements for developing it thanks to the sufficient level of information in it. The project team or a business often includes product owners (PO) on its roster.
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Which of the following might issue a bond?
A. A small business
B. The state of Nebraska
C. An investment firm
D. The IBM corporation
Answer:
The state of Nebraska
Explanation:
The state of Nebraska might issue a bond. The correct option is b.
What is a bond?A bond refers to a fixed-income instrument that represents a loan made by an investor to a borrower generally in corporate or governmental. A bond could be thought of as an I.O.U. between the lender and borrower which includes the details of the loan and its payments. Bonds are used by companies, municipalities, states, and sovereign governments to finance projects and operations. Owners of bonds are debtholders, or creditors, of the issuer.
Bond details include the end date when the principal of the loan is due to be paid to the bond owner and usually include the terms for variable or fixed interest payments made by the borrower. Bond prices are inversely correlated with interest rates and when rates go up, bond prices fall and vice-versa.
Bonds have maturity dates at which point the principal amount must be paid back in full or risk default.
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You open a new bank account at Eastside Savings. You see FDIC stickers around the bank, and the teller specifically mentions that Eastside
Savings is "FDIC Insured". A few months later, you hear on the radio that Eastside Savings is struggling to stay in business. Your savings balance
Is $500. What would happen to that money if Eastside Savings failed?
A.You could lose $250 since FDIC Insurance only covers 50% of the money you have deposited.
B.You would lose all of your money.
C.You would receive $250,000 since FDIC Insurance provides each account at the bank with $250,000 regardless of how much they
have deposited
D.You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Answer:
The correct option is D. You would receive all the money you have deposited at Eastside Savings since FDIC insurance covers accounts up to $250,000.
Explanation:
Based on the information given what would happen to that money in a situation where Eastside Savings failed is that such individual would receive all the money he/she have deposited at Eastside Savings reason been that FDIC which is fully known as FEDERAL DEPOSIT INSURANCE CORPORATE insurance covers accounts up to the amount of $250,000 and Secondly Eastside Savings is "FDIC Insured".