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It is Sarah's 21st birthday today and she has received an inheritance of $50,000 from her grandfather. Sarah will spend one-half of this inheritance, and use the rest to start a retirement savings fund. She plans to retire on her 67th birthday and she expects her retirement will last for twenty-five years. Sarah has set up a retirement savings fund that pays interest of 4.05 percent compounded monthly. When she retires, Sarah will transfer part of the proceeds of her retirement savings fund to a fund that will give her income payments of $4000 per month in advance during retire- ment. Her retirement income fund will pay interest of 312 percent compounded monthly. Sarah will use the rest of the proceeds of her retirement savings fund to set up a fund from which she plans to bequeath $500,000 to her grand- children on her 80th birthday. Her bequest fund will pay interest of 41?2 percent compounded annually. Calculate the amount of the monthly deposit Sarah must make into her retirement savings fund in order to fulfill her retirement income and bequest goals.
In an examination of purchasing patterns of shoppers, a sample of 16 shoppers revealed that they spent, on average, $54 per hour of shopping. Based on previous years, the population standard deviation is thought to be $21 per hour of shopping.
A city government is considering two types of town dump sanitary systems, as shown below. Select the better system based on BC analysis at 8% social discount rate (same as MARR). Design A Design B Initial investment $400,000 $300,000
You are considering opening a new business to sell golf clubs. You estimate that your manufacturing equipment will cost $100,000, facility updates will cost $250,000, and on average it will cost you $80 (in labor and material) to produce a club.
In an attempt to increase revenue and profits a firm is considering a 4 percent increase in price and an 11 percent increase in advertising. If the price elasticity of demand is -15 and the advertising elasticity of demand is -+0.6 would you expec..
In April Patrick receives a 5% pay increase. Meanwhile the inflation raises the price of concerts to $10.50 and the price of Celtic Springs Water to $2.10. Draw Patrick's new budget constraint and optimal consumption bundle.
If taxes were cut by $200 billion, the resulting spree would amount to Initial increase in consumption = 0.75 3 $200 billion = $150 billion ( a ) By how much does consumer saving increase initially ( b ) How large is the initial spending injection
If the rate of discount is 20 percent, a Would you rather receive $100 today or $120 in one year b Would you rather receive $205 today or $240 in one year c Would you rather receive $500 in one year or $610 in two years
The Zenvox Television Company faces a demand function for its products that can be expressed as Q = 4,000 - P + 0.5I, where Q is the number of televisions, P is the price per television and I is the average monthly income. Average monthly income i..
Explain the effect on supply and demand that the credit market crisis in the United States in 2008 had in the market for existing single-family homes. Assuming the demand for existing single-family homes is relatively inelastic.
A new gear grinding machine for composite materials has a first cost of P=$100,000 and can be used for a maximum of 3 years. Its salvage value is estimated by the relation S=P(0.85)n, where n is the number of years after purchase. The operating cost ..
Before the income is spent, it can either be kept in money or bonds. Money yields no interest. Bonds yield a yearly interest of 4%, but a transaction fee of 18 has to be payed each time bonds are sold. Use the Baumol-Tobin model of money demand to ..
A monopolist's inverse demand function is P = 150 - 3Q. The company produces output at two facilities; the marginal cost of producing at facility 1 is MC1(Q1) = 6Q1, and the marginal cost of producing at facility 2 is MC2(Q2) = 2Q2. Provide the eq..
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