semiconductor company that usually gives year-end bonuses in the amount of 7,000 pesos to each of its operators is having budget problems. The company decided not to give bonuses this year, it would give each operator two bonuses next year, the regular one 7,000 pesos plus an amount equivalent to 7,000 pesos that each operator should have gotten this year. If the interest rate is 7% per year, what will be the total amount of bonus money the operators should get next year?
semiconductor company that usually gives year-end bonuses in the amount of 7,000 pesos to each of its operators is having budget problems. The company decided not to give bonuses this year, it would give each operator two bonuses next year, the regular one 7,000 pesos plus an amount equivalent to 7,000 pesos that each operator should have gotten this year. If the interest rate is 7% per year, what will be the total amount of bonus money the operators should get next year?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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A semiconductor company that usually gives year-end bonuses in the amount of 7,000 pesos to each of its operators is having budget problems. The company decided not to give bonuses this year, it would give each operator two bonuses next year, the regular one 7,000 pesos plus an amount equivalent to 7,000 pesos that each operator should have gotten this year. If the interest rate is 7% per year, what will be the total amount of bonus money the operators should get next year?
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