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- Why is scientific literacy is important? Answer can be related to decision-making, economic productivity, and education. Please answer in paragraph thanksWhat is meant by the rate of interest. How is the rate of interest determined? Explain in 500 words.In January 2015, Tim's Gyms, Inc. owned machines valued at $1 million. During the year, the market value of the equipment fell by 40 percent. During 2015, Tim spent $200,000 on new machines. During 2015, Tim's net investment totaled______. a. $200,000 b. -$200,000 c. $800,000 d. $400,000
- Optimizing economic agents use the real interest rate when thinking about the economic costs and returns of a loan. Suppose the average rate paid by banks on savings accounts is 0.80% at a time when inflation is around 1.95%. For the average saver, the real rate of interest on his or her savings is ___%.How does health, wealth, and happiness of an economy might tie into the business world or be important to know from a business perspective?Discuss the overall purpose people have for investing. Define investment