How much do you have to deposit each year make sure
Course:- Business Economics
Reference No.:- EM13149073

Assignment Help >> Business Economics

To provide an education for someone. They open an account in which equal payments are made from the first payment Jan 1995 to Jan 2012. The cost of the tuiton for 4 years is 8,000 dollars. Assume the interest rate is 5.75 %. how much do you have to deposit each year make sure that 8,000 can be withdrawn for the 4 years?

Put your comment

Ask Question & Get Answers from Experts
Browse some more (Business Economics) Materials
Janice really likes potatoes. At best any other goods are worth less than a dollar to her, potatoes cost $1.00 per pound, and she has $5.00 that she could possibly spend on po
The Targeted Jobs Tax Credit (TJTC) existed from 1979 through 1994. It offered employers a tax credit for each “less-skilled” worker they employed. Assume that the tax credit
Utility is given as: U(x, y) = min(x,y) (a) Graph a typical indifference curve for this function. (Hint: Choose a level of utility and draw various combinations of x, y that r
Based only on the expected change in the relative supply of low-skilled labor in the U.S., do you expect that an increase in immigration of low skilled workers from Mexico to
There are 10,000 identical individuals in the market for medical service X, each with a demand function given by Qdx=12-2Px and 1,000 producers of medical service X each with
How does a government budget surplus affect the U.S. economy? Identify two periods in recent history in which the United States has run budget surpluses. What were the reaso
Why tax multiplier is smaller than the multiplier for the same amount of government spending? Please explain with the following data: $1 million tax cuts, $1 million increase
The U.S. economy fell into a recession in 2001 and then proceeded into a slow-growth recovery due to a decline in investment. A. Explain how a change in investment can have a