question 15\n3 pts\ngovernment places controls on the personal financial environment by use of\nregulation…
question 15\n3 pts\ngovernment places controls on the personal financial environment by use of\nregulation and competition.\nregulation and fiscal policy.\ntaxation and competition.\ntaxation and fiscal policy\ntaxation and regulation\nquestion 16\n3 pts\nmichael and sandy purchased a home for $100,000 five years ago. if it appreciated 6% annually, what is it worth today?\n$135,603\n$106,000\n$133,823\n$130,000
Answer
Question 15
Brief Explanations:
The government uses taxation to collect revenue and regulation to set rules, both of which impact the personal financial environment. Fiscal policy is a broader concept related to government spending and taxation, and competition is not a direct control measure by the government on personal finance.
Answer:
taxation and regulation
Question 16
Explanation:
Step1: Recall compound - interest formula
The formula for compound appreciation is $A = P(1 + r)^n$, where $P$ is the initial amount, $r$ is the annual interest rate (as a decimal), and $n$ is the number of years. Here, $P=$100000$, $r = 0.06$, and $n = 5$.
Step2: Substitute values into the formula
$A=100000\times(1 + 0.06)^5$. First, calculate $(1 + 0.06)^5=(1.06)^5=1.06\times1.06\times1.06\times1.06\times1.06 = 1.3382255776$. Then, $A = 100000\times1.3382255776=$133822.56\approx$133823$.
Answer:
$133823$