A business that sells educational toys is a better idea for the current economic climate, as the population is increasing and every parent want the best possible growth of their child.
The general status of the local, governmental, or international economy is referred to as the "economic climate". The status of the stock market, the employment market, or the accessibility of credit are typically indicators of the economic climate. It could also be a reflection of how investors, economists, businesses, and consumers see the state of the economy.
A particularly strong economic downturn, from 2.7 percent in 2022 to 1.3 percent in 2023, is predicted for advanced economies. A realistic alternative scenario with increased financial sector stress shows that by 2023, global GDP would have fallen to around 2.5 percent, with advanced economies' growth dropping below 1 percent.
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one of the following is not a personal characteristics of successful leader
Self-assurance is not one of the character attributes of a successful leader.
We feel better equipped for life's experiences when we are Self-assurance Confident people are more likely to seize opportunities and advance with others than they are to back away from them.
Confidence motivates us to try something again if the first time doesn't work out. The opposite happens when confidence attributes is low. Anybody can gain confidence over time. Even while it won't always be easy, those with a growth mentality are more likely to succeed in developing the confidence they desire in the areas they want it.
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How would you approach this using the excel functions of pv and pmt?
Here's the question:
You want to accumulate $1 million by your retirement date, which is 25 years from now. you will make 25 deposits in your bank, with the first occurring today. The bank pays 8% interest, compounded annually. You expect to receive annual raises at 3%, which will offset inflation, and you will let the amount you deposit each year also grow by 3% (i.e, your second deposit will be 3% greater than your first, the third will be 3% greater than the second, etc.) How much must your first deposit be if you are to meet your goal.
To approach this using Excel functions, we can use the PV (present value) and PMT (payment) functions to calculate the amount of the first deposit. Here are the steps:
1. Calculate the future value of the $1 million using the FV (future value) function:
=FV(8%, 25, 0, -1000000)
This returns a value of $4,660,962.91, which is the amount that will accumulate in 25 years at 8% interest.
2. Calculate the present value of the future amount using the PV function:
=PV(8%-3%, 25, -1*FV(8%, 25, 0, -1000000), 0, 1)
This returns a value of $1,257,407.11, which is the amount that needs to be deposited today to accumulate to $4,660,962.91 in 25 years at 8% interest with 3% annual raises.
3. Calculate the payment amount using the PMT function:
=PMT(8%, 25, -1*PV(8%-3%, 25, 0, 1257407.11, 1), 0, 1)*(1+3%)
This returns a value of $68,527.78, which is the amount of the first deposit.
So, the first deposit should be $68,527.78 to accumulate $1 million in 25 years with 8% interest, 3% annual raises, and 3% increase in deposit each year.