Best answer

Money solves the problem of double coincidence of wants by acting as a medium of exchange.

Double coincidence of wants implies a situation where two parties agree to sell and buy each other's commodities., i.e., what one party desires to sell is exactly what the other party wishes to buy..

Answered by: Pᴇʜ Date created: May 12, 2022

What rate of return do you need to double your money in 10 years?

Asked By: chepner Date created: May 04, 2022

7.2 percentThe math rule of 72 tells you how long it will take to double your money at a given rate. The interest rate times the number of years to double compounded equals 72. So to double an investment in 10 years, divide 72 by 10. A mutual fund needs an average annual return of 7.2 percent to double in 10 years.

Answered By: Jon Date created: May 07, 2022

Why is money a better system than barter?

Asked By: piokuc Date created: May 07, 2022

Hey is money better than barter system in trade}? The main advantage of money over barter is that money is always going to be usable. Barter is very often not possible. This is because of the need for what is called a “coincidence of wants” (sometimes called a “double coincidence of wants”).

Answered By: jh314 Date created: May 07, 2022

How long does it take to double your money in a 401k?

Asked By: Doug Date created: May 09, 2022

For example, if you invest $10,000 at 10 percent compound interest, then the “Rule of 72” states that in 7.2 years you will have $20,000. You divide 72 by 10 percent to get the time it takes for your money to double. The “Rule of 72” is a rule of thumb that gives approximate results.

Answered By: Greg Date created: May 10, 2022

How can I double my money per year?

Asked By: Michael Berry Date created: May 10, 2022

The rule states that the amount of time required to double your money can be estimated by dividing 72 by your rate of return. For example: If you invest money at a 10% return, you will double your money every 7.2 years.

Answered By: Seth Ladd Date created: May 10, 2022

Can money solve all your problems?

Asked By: Donut Date created: Apr 28, 2022

Yes, money can fund a certain amount of happiness and peace of mind. But it cannot fund everything. ... If you're ever going to develop a healthy mindset about money, it begins with understanding that even if money could solve a lot of your problems, it will never be able to solve them all.

Answered By: Pawel Date created: May 01, 2022

Does Orkin have a money back guarantee?

Asked By: freedomn-m Date created: May 08, 2022

The Orkin Guarantee And if we're unable to solve your pest problem, we'll refund your last service payment as long as you're a customer. More importantly, you can call your Orkin Man anytime you have a problem and we'll work to solve it.

Answered By: H. Pauwelyn Date created: May 09, 2022

How much money would it take to solve world problems?

Asked By: Elias Zamaria Date created: May 13, 2022

There are 820 million people in the world suffering from chronic hunger — with roughly 30 million of those folks being in the U.S. How much money would it take to solve this global problem? According to Global Giving, estimates range from $7 billion to $265 billion per year.

Answered By: Amadan Date created: May 15, 2022

How do you solve money problems?

Asked By: Chin. Udara Date created: May 08, 2022

9 Practical Steps to Solve Your Financial Problems Without an Ivy League EducationLive on Cash for 2 Weeks. ... Increase Your Spending Awareness. ... Create a Spending Plan or a Budget to Solve and Prevent Financial Problems. ... Find a Replacement for One Large Expense in Your Monthly Budget. ... Identify Expenses You Can Reduce.More items...•Oct 14, 2020

Answered By: YBS Date created: May 08, 2022

Will giving money to the poor solve the problem of poverty?

Asked By: EpicPandaForce Date created: May 14, 2022

In global development, cash transfers typically describe direct payments that donor organizations or governments make to the poor, often with no strings attached. ... Since 2000, the radically simple idea of just giving the poor money has become quite popular.

Answered By: Christopher DuBois Date created: May 16, 2022

Is money a cause of depression?

Asked By: TofuBeer Date created: Apr 29, 2022

It's no coincidence that one in four people with a mental health problem is also in debt as they form their own vicious circle. The grinding effect of living in poverty can lead to depression, while the medical effects of depression only contribute further to financial problems.

Answered By: sberry Date created: May 01, 2022

Related Question Answers

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How much money does a successful movie make?

However, this io9 write-up states that generally speaking, a movie needs to make at least double its budget at the box office to break even.

Usually you can use a blended rate of 2.5x budget for break even.

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What is money and its functions in economics?

Money is an economic unit that functions as a generally recognized medium of exchange for transactional purposes in an economy. Money provides the service of reducing transaction cost, namely the double coincidence of wants.

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How often does the value of money double?

The result is the number of years, approximately, it'll take for your money to double. For example, if an investment scheme promises an 8% annual compounded rate of return, it will take approximately nine years (72 / 8 = 9) to double the invested money.

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How often does your money double in a 401k?

How the Rule Works. To use the Rule of 72, divide the number 72 by an investment's expected annual return. The result is the number of years it will take, roughly, to double your money.

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How has the introduction of money solve the problem of barter system?

(b) (i) The problem of double coincidence of wants made trade difficult and time wasting. (ii) Many goods used in barter trade cannot be divided into smaller units. ... (c)(i) Money has solved the problem of double coincidence of wants i.e. with money you can buy all you want or sell what you have at any time.

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How does money double every 7 years?

The rule states that the amount of time required to double your money can be estimated by dividing 72 by your rate of return. 1 For example: If you invest money at a 10% return, you will double your money every 7.2 years. ... If you invest at a 7% return, you will double your money every 10.2 years.

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How long does it take to double your money at 10 percent?

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What is money in accounting?

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How has money solve the problem of barter system?

Money solves the problem of double coincidence of wants by acting as a medium of exchange. Double coincidence of wants implies a situation where two parties agree to sell and buy each other's commodities., i.e., what one party desires to sell is exactly what the other party wishes to buy.

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Why has money replaced the barter system give three reasons?

The three reasons that lead to the replacement of barter system by money are : 1.

Less possibility or lack of coincidence of wants or double coincidence of wants.

...

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How did money solve the problem of double coincidence of wants?

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What advantage does a money economy have over a barter economy?

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Why do you think money has replaced barter?

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Why is money transaction system better than water system?

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Why is money better than the barter system?

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The main advantage of money over barter is that money is always going to be usable.

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Does money double every 7 years?

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