Compound interest is a very powerful way to save for your retirement. saving a little and giving it time to grow is often more effective than saving a lot over a short period of time. to illustrate this, suppose your goal is to save $1 million by the age of 6060. what amount of money will be saved by socking away $11 comma 79311,793 per year starting at age 2929 with aa 66% annual interest rate. will you achieve your goal using the long-term savings plan? what amount of money will be saved by socking away $27 comma 18627,186 per year starting at age 4040 at the same interest rate? will you achieve your goal using the short-term savings plan?

Total marketing effort is a term used to describe the critical decision factors that affect demand: price, advertising, distribution, and product quality. define the variable x to represent total marketing effort. a typical model that is used to predict demand as a function of total marketing effort is based on the power function: d = axb suppose that a is a positive number. different model forms result from varying the constant b. sketch the graphs of this model for b = 0, b = 1, 0< b< 1, b< 0, and b> 1. (we encourage you to use excel to do this.) what does each model tell you about the relationship between demand and marketing effort? what assumptions are implied? are they reasonable? how would you go about selecting the appropriate model?