Suppose you were going to save $1,000 per year for three years at a 10% interest rate compounded annually, with the first investment occurring today. What would be the future value of this investment

$13,310

Explanation:

The investment would be 100% = $1000 * 100% / 10% = $10,000

So this is the amount that would be deposited today to earn $1000 each year which is 10% of the amount deposited today.

The Future Value is given as under:

Future Value = Present Value * (1 + r)^n

Here,

Present value is $10,000

r is 10%

and n is 3 years

So, by putting values we have:

Future Value = $10,000 * (1 + 10%)^3  = $13,310

c, theres a double tax on the business earnings

being born in poverty would limit the people's chances, opportunities and benefits.

this happen because of several things, such as:

- poor people tend to gain less access to good education and nutrition. this mean that their chance to obtain high paying jobs would also be limited.

- poor people tend to socialize with other poor people while the rich tend to socialize with other rich people. this means that simply throguh their social circle, rich people would have more business opportunities compared to the poor people.

- rich people tend to have more capital in their disposal. this would benefit them in business since it is far easier for them to fund their business operation compared to poor people.