Hank made payments of $224 per month at the end of each month for 30 years to purchase a piece of property. He promptly sold it for $188 comma 508. What interest rate, compounded monthly, would he need to earn on an ordinary annuity for a comparable rate of return?

Brian has just finished college. he wants to set up a small business to make and sell fireworks. he registers his company and acquires a license from the government. he finds that most of his competitors are selling fireworks at an extremely low price. he would like to make more money, so he decides to innovate and develop better fireworks. he sells his fireworks at a higher price, and they are a huge hit with the customers. after a few years, he earns enough profit to set up a bigger fireworks factory that complies with the government’s health and safety regulations. he even starts exporting fireworks overseas. which type of economy does this scenario describe?