Sixty years ago, your grandparents opened two savings accounts and deposited $200 in each account. the first account was with city bank at 3 percent, compounded annually. the second account was with country bank at 3.5 percent, compounded annually. which one of the following statements is true concerning these accounts? the country bank account is currently worth $1,526.08.the city bank account has earned $211.19 more in interest than the country bank account. the country bank account has paid $367.48 more in interest than the city bank account. the country bank account has paid $397.30 more in interest than the city bank account. the city bank account is currently worth $1,201.54.

the true statement is The Country Bank account has paid $397.30 more in interest than the City Bank account

Explanation:

Given:

Time, n = 60 year

Principle amount = $200

Rate of interest in City bank = 3%

Rate of interest at country bank = 3.5%

Now,

present value = Principle × ( 1 + rate )ⁿ

therefore,

The present value in city bank

Present value = $200 × ( 1 + 0.03 )⁶⁰

or

Present value = $1,178.32

and,

The Present value in country bank

Present value = $200 × ( 1 + 0.035 )⁶⁰

or

Present value = $1,575.61

Difference in interest = $1,575.61 - $1,178.32 = $397.29 ≈ $397.30

Hence,

the true statement is The Country Bank account has paid $397.30 more in interest than the City Bank account

answer; ///product strategy;

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.