Acouple saves £6000 at the beginning of each year. calculate how much would the total savings be after four years, if the bank pays interest of 2.75% per annum.

The total savings after four years will be £25,696.00, assuming interest is compounded annually.

We have

Annual Savings = £6,000

Interest rate per annum = 2.75%

No. of years = 4

Timing of savings = Beginning of the year.

Since the couple saves £6000 at the beginning of each year, we can treat this amount as an annuity due.

We assume that interest is compounded annually.

We use the following formula to arrive at the Future Value of an annuity due:

Substituting the values in the equation above we get,

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

according to the song of roland, the characteristics of an ideal knight are: loyalty to the king, skilled warriors and horseman, valiant, bold, courageous, strong and proud in battle. they should be determined to fulfil their duties and willing to die to make their people safe.