The president of a growing engineering firm wishes to give each ofthe35employees a holiday bonus. How much is needed to invest monthly for a year at aneffectiveannual interest rate of 8%, compounded monthly so that each employee will receive a $1,000 bonus

The amount to invest : A = P(1+r)^n

$35000 = P ( 1+0.0067)^12

$35000/(1.0067)^12 = P

P = $32304.81 is the amount to invest

Explanation:

A is the total amount, final answer = $1000*35 = $35000

P is the amount to invest ?

R is the rate = 8% /12 = 0.0067

N = years * 12 =12 months

compounded monthly = 12

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi