business responses 3
Instructions: For response 1-2, respond thoughtfully. Just saying “I agree” or “I disagree” does not constitute a thoughtful response. They need to be substantive to promote further discussion, new ideas, or questions and are at least 150-350 words and meaningful sentences that are also professionally written. State your opinion. Do you agree with them? If so why or why not?
RESPONSE 1
Read the Chapter and the Rule of 72 and explain how long it will take you to double your money with an interest rate of 6 percent.
Rule of 72 is a technique to find the number of years that it will take to double investment by dividing 72 by the given rate of return or interest rate. Since it is asking us to double it with an interest rate of six percent, I will proceed to divide the interest rate into 72. According to the Rule of 72, it will take me to double my money with an interest rate of six percent in 12 years (72 divided by 6=12 years). In fact, the Rule of 72 is a mathematical rule that helps us to determine how long it will take an investment to double given an interest rate. Depending on the interest rate the Rule of 72 says that the interest rate is divided by 72.
RESPONSE 2
Based on Covid 19, a lot of jobs have been impacted devastating small businesses, yet many new opportunities are emerging, list some business ideas.
Covid 19 has impacted small businesses but many of them have adjusted to take out available. Some small business restaurants have even started selling their own supplies, like grocery supplies as well as cleaning products and toilet paper. Many small businesses have curated DIY boxes where customers can make their own things like a small pizza restaurant made do it yourself pizza boxes including the dough, the sauce, the toppings and an instructions paper. Some businesses are also making shipping options available so if people cannot leave their homes they can still order food or supplies and have it shipped to their door. Delivery options are also becoming free or recommended.
