Ruth Wants to Save an Amount of Money to Buy

question 12

Essay

Ruth wants to save an amount of money to buy a new computer two years from now.She estimates that the price of the computer will be $800,and she wants to save the money in two tranches at the beginning of each of the next two years.For simplicity,suppose interest is computed only at the end of the year and Ruth wants to save equal amounts every year.If the interest rate is 10% per year,how much does Ruth need to save every year?

---

Definitions:

Labour Costs

The total amount of money that businesses need to pay to their employees, including wages, salaries, and benefits.

Unemployment Rates

The percentage of the labor force that is jobless and actively seeking employment.

Training Needs

Identification of gaps in knowledge, skills, and abilities among employees or a workforce, which can be addressed through targeted training programs.

Training Methods

Various approaches and techniques used to enhance the skills, knowledge, and abilities of employees.