Tropical Tans Is Saving Money to Build a New Salon

question 279

Multiple Choice

Tropical Tans is saving money to build a new salon. Three years ago, they set aside $12,000 for this purpose. Today, that account is worth $16,418. What rate of interest is Tropical Tans earning on this money?

• A) 10.88%
• B) 10.97%
• C) 11.01%
• D) 11.14%
• E) 11.23%

Grasp the importance of environmental factors, such as economic crises, in creating uncertainty and risk in decision-making.

Recognize the steps involved in the decision-making process, including problem identification and alternative generation.

Understand how intuition and creativity are involved in resolving uncertainty in leadership and decision-making.

Understand the concept of information and reputation crises within organizations.

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Definitions:

Competitive Business

A business that actively strives for a superior position in the marketplace through strategies like innovation, quality improvement, and customer service enhancement.

Challenges of Growth

The difficulties and obstacles that a company or organization faces as it expands or increases in size.

Oligopolistic

Pertaining to a market structure where a few firms dominate the industry, often leading to limited competition.

Perfectly Competitive

A theoretical market structure characterized by infinite buyers and sellers, homogeneous products, and free entry and exit, leading to optimal output levels and no individual control over prices.