Kari would like to save $10,000 for a down payment on a house. Illustrate the difference in years it will take her to double her current $5,000 savings based on a 6%, 12%, and 18% interest rate.

Explanation:

The growing of the $10,000 will depend on the number of times the interest is compounded per year.

For didactic purposes, the period of compounding will be annual (once per year)

Formula:

Then:

For r = 6 %, r = 0.06

For r = 12%

For r = 18%

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.

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