Tough concrete, a construction company, will purchase a new kind of digging machine in 3 years. they anticipate that the new digging machine will cost them $3,700. since they would like to have cash ready for payment, how much should they deposit semi-annually in an account that will earn 3% per year compounded semi-annually to have the money available in 3 years?

The business cycle is the periodic but irregular up-and-down movement in economic activity, measured by fluctuations in real gross domestic product (gdp) and other macroeconomic variables. a business cycle is typically characterized by four phases—recession, recovery, growth, and decline—that repeat themselves over time. economists note, however, that complete business cycles vary in length. the duration of business cycles can be anywhere from about two to twelve years, with most cycles averaging six years in length. some business analysts use the business cycle model and terminology to study and explain fluctuations in business inventory and other individual elements of corporate operations. but the term "business cycle" is still primarily associated with larger (industry-wide, regional, national, or even international) business trends.